Pump.fun Moves $16M in SOL to Kraken Amid Solana Memecoin Resurgence
Pump.fun, a leading platform in Solana’s memecoin ecosystem, has transferred 105,233 SOL (worth approximately $15.86 million) to the Kraken exchange, as reported by on-chain data from Lookonchain. This latest deposit brings Pump.fun’s cumulative SOL transfers to Kraken to an impressive 3.2 million SOL, valued at around $591 million at current prices. The move appears to be a strategic profit-taking maneuver as Solana-based meme tokens experience a notable revival in market activity. Pump.fun has established itself as a dominant player by offering a streamlined interface for launching and trading meme coins, capitalizing on the renewed interest in this niche sector of the cryptocurrency market. The timing of these transfers suggests confidence in the current market conditions and the platform’s ability to leverage Solana’s growing ecosystem for substantial liquidity movements.
Pump.fun Transfers $16M in SOL to Kraken Amid Solana Memecoin Revival
Pump.fun, a dominant platform in Solana’s memecoin ecosystem, has deposited 105,233 SOL ($15.86 million) into Kraken, according to on-chain data from Lookonchain. This brings its cumulative deposits to 3.2 million SOL ($591 million at current prices), signaling strategic profit-taking as Solana-based meme tokens regain momentum.
The platform has capitalized on its streamlined interface for launching and trading meme coins, earning fees from transactions and token launches. Its latest move reflects both confidence in Solana’s infrastructure and a calculated response to volatile market conditions.
These transactions coincide with renewed speculative interest in Solana’s memecoin sector, suggesting shifting trader sentiment toward higher-risk assets. The scale of Pump.fun’s operations—processing over half a billion dollars in SOL—positions it as a bellwether for retail crypto activity.
Massive SOL Transfers Between Pump.fun and Kraken Trigger On-Chain Monitoring
Pump.fun has executed significant Solana (SOL) transfers to Kraken, moving over 140,000 SOL across 14 transactions within 24 hours. The total SOL deposited to Kraken now exceeds 3.2 million, valued at $591 million, with a notable pattern suggesting an organized liquidity strategy.
Blockchain analytics firm Lookonchain flagged the activity, highlighting a repeated routing method through a single wallet. Pump.fun’s recent deposit of 105,233 SOL ($15.86 million) follows prior sales of 264,373 SOL for 41.64 million USDC at an average price of $158 per SOL.
Ethereum Whales Remain Divided – What Lies Ahead for ETH Investors?
Ethereum’s largest holders are sending mixed signals to the market. While some whales aggressively accumulate, others liquidate positions at a loss, creating a bifurcated landscape for investors.
On May 1, 2025, Lookonchain tracked a cluster of whale addresses acquiring thousands of ETH within hours, demonstrating conviction in the asset’s long-term prospects. One entity purchased 3,029.6 ETH worth $5.74 million, absorbing a $142,000 paper loss as prices dipped to $1,842.
Conversely, OnchainLens observed a separate whale depositing 2,680 ETH onto Kraken on May 2, realizing approximately $255,000 in losses. This divergence highlights the tension between short-term price action and fundamental belief in Ethereum’s ecosystem.
PumpFun Offloads More than $16.8M in SOL
PumpFun, a prominent platform for meme coin creation and trading on the Solana blockchain, has resumed its aggressive selling of SOL. Four newly created wallets linked to PumpFun withdrew 111,993 SOL from Kraken, converting the tokens into $16.89 million worth of USDC and USDT at an average price of $150.8 per SOL.
Onchain Lens reported the movement, noting that PumpFun has now sent a total of 118,717 SOL ($17.86 million) to Kraken. The latest transaction involved an additional 13,484 SOL, signaling continued sell-side pressure.
