Pump.fun's cumulative SOL sales reach $848 million after Kraken transfers, U.Today says
In brief
- Pump.fun fee accounts sold about 47,994 SOL, roughly $5.83 million, in two hours, U.Today says.
- Cumulative Pump.fun sales total 5,236,623 SOL, about $848 million, at a $162 average price.
- Kraken deposit address received the transfers; the largest single move was 18,608 SOL.
- SOL still rose from about $75 in early August to over $123, U.Today says.
A two-hour batch sent to Kraken
U.Today reported another wave of sizable withdrawals to Kraken over the previous two hours. Individual fee-account transfers to a Kraken deposit address ranged from less than 2,000 SOL up to a single transfer of 18,608 SOL (worth more than $2.26 million), per the outlet.
It's worth being precise about the timeframe. U.Today's headline refers to 24 hours, but the article body puts the roughly $5.83 million in a two-hour window, and that's the figure used here.
$848 million since conversions began
Every trade on Pump.fun generates fees paid in SOL. Rather than holding those fees, the protocol has kept sending them to centralized exchanges (mainly Kraken), U.Today said. By the outlet's count, the platform has sold 5,236,623 SOL, valued at about $848 million, at an average execution price of $162 per SOL since it began converting its accumulated trading fees.
The transfers come from the same set of fee-collection wallets every few weeks. U.Today described that pattern as a methodical treasury management process rather than one-time liquidations. Pump.fun's own reasoning isn't given in the report.
SOL has climbed through the selling
U.Today noted that a significant rise in SOL's price coincided with the ongoing selling. Solana went from about $75 in early August to over $123, the outlet said, with the move speeding up through September as the token broke above its short- and long-term moving averages.
U.Today's read is that broader buying demand for SOL has more than offset the selling pressure.
That's the outlet's analysis, not a measured link between the Kraken flows and SOL's price. The report doesn't pin down how much of the rally came from new buyers versus other factors, so it's best treated as one publication's interpretation of the chart.
The outlet also said traders watching on-chain flows would likely keep tracking the Kraken-bound transfers, especially if SOL's price momentum slows. With deposits arriving every few weeks from the same wallets, the next batch should be easy to spot on-chain when it lands.
Frequently asked questions
Where does Pump.fun's SOL come from?
Every trade on Pump.fun generates fees paid in SOL. U.Today reported that instead of holding those fees, the protocol has kept sending them to centralized exchanges, mainly Kraken.
How much SOL has Pump.fun sold in total?
According to U.Today's reading of on-chain data, the platform has sold 5,236,623 SOL, valued at about $848 million, at an average execution price of $162 per SOL since it began converting its accumulated trading fees.
