Pump.fun Unloads Millions to Kraken Amid Ongoing Solana Supply Pressures

A major Solana-based launchpad has moved millions of SOL to Kraken, fueling ongoing supply pressures on the market. Pump.fun transferred 47,994 SOL, valued at around $5.83 million, to the centralized exchange just before a platform update.

This is part of a long-running pattern of large-scale token transfers from Pump.fun, which Lookonchain estimates have resulted in cumulative sales of 5,236,623 tokens, with an estimated value of approximately $848 million at an average price near $162 per SOL.

The transfer does not necessarily mean the tokens will be sold immediately. Past data suggests that smaller fractions of deposited SOL were directly traded on-chain for USD Coin, rather than being sold upon arrival at Kraken.