Kraken News: Pump.fun’s SOL Transfers to Kraken Continue Despite Sharp Revenue Decline

In a significant development in the cryptocurrency world, Pump.fun has been making SOL transfers to Kraken, amidst a steep drop in its daily fee revenue. Here’s a closer look at the latest developments.

Pump.fun’s SOL Transfers to Kraken Continue as Revenue Drops 95%

Pump.fun’s daily fee revenue dropped significantly from around 12,000 SOL, or $2 million per day, in February 2025 to less than 1,000 SOL, or $100,000 per day, in March 2025. Recently, Pump.fun transferred 196,370 SOL to Kraken, consisting of two main transactions. This SOL transfer is only a small portion of the fee income from the past three weeks. Additionally, Pump.fun redeemed 120,000 SOL as pledged SOL. As of January 2025, Pump.fun had transferred 1.56 million SOL to Kraken, valued between $281 million and $313 million.

Whale Sells 59,406 SOL Tokens on DEX as Solana Price Surges

A whale has made significant gains by transferring 59,406 SOL tokens from Kraken, a centralized exchange (CEX), and selling them on a decentralized exchange (DEX) for 7.47M USDT at an average price of $125.8. The whale’s action indicates that big investors are offloading part of their SOL holdings for profit-taking. This trading activity highlights the flexibility and liquidity of DEXs, which can facilitate large transactions.