Kraken Sees $16M SOL Transfer from Pump.fun Amid Solana Meme Coin Frenzy

Pump.fun, a leading meme coin launchpad on the Solana blockchain, has transferred 105,233 SOL (worth approximately $15.8 million) to the Kraken exchange. This marks another significant move in a series of large-scale deposits, bringing the platform’s total SOL transfers to Kraken to over 3.2 million SOL, valued at around $591 million at current market prices. The recurring profit-taking by Pump.fun has sparked discussions within the cryptocurrency community about the sustainability and implications of such large transfers.

Pump.fun Transfers $16M SOL to Kraken Amid Solana Meme Coin Activity

Pump.fun, a prominent meme coin launchpad on Solana, has moved 105,233 SOL (worth approximately $15.8 million) to Kraken. This transaction marks the latest in a series of sizable transfers, bringing the platform’s cumulative deposits to the exchange to over 3.2 million SOL—valued at roughly $591 million at current prices.

The recurring profit-taking by Pump.fun has ignited discussions within the crypto community. Concerns center on potential downward pressure on SOL’s price and broader implications for ecosystem stability. Solana’s recent meme coin resurgence adds context to the platform’s liquidity movements.

Whale Moves $51M to Kraken: Is Solana Gearing Up for a Surge?

Solana hovers NEAR $147 with muted volatility, eking out a 0.25% weekly gain as trading volume contracts by 42%. The blockchain token’s technical posture remains bullish despite stagnant price action, with its RSI at 60.62 signaling moderate upside momentum.

A whale’s $51 million SOL transfer to Kraken has injected uncertainty into the market, potentially foreshadowing increased volatility. Analysts note Solana’s consolidation above key moving averages suggests accumulation before a potential breakout attempt above the $147 resistance level.