Pump.fun Deposits 64,666 SOL to Kraken as Solana Falls Below $75

Crypto News

Pump.fun Deposits 64,666 SOL to Kraken as Solana Falls Below $75

Topics in article

Solana

Pump.fun deposited another 64,666 SOL into Kraken as solana fell below $75, bringing its lifetime sales to about $887.6 million. Wallets belonging to its team or early investors also moved 1.458 billion unlocked PUMP to Coinbase Prime.

Pump.fun deposited another 64,666 SOL, worth about $5.19 million, into Kraken roughly seven hours before onchain trackers reported it. The memecoin platform earns fees in SOL every time users launch and trade memecoins, and it regularly converts those funds into revenue by sending them to exchanges.

According to Arkham's Pump.fun entity page, the platform has sold 5,618,499 SOL for about $887.6 million at an average price of $158. Onchain analyst EmberCN, however, estimated that Pump.fun had sold about 5.69 million SOL, worth roughly $898 million, since early 2024.

SOL trades at less than half the average sale price

SOL traded near $75.76 early Saturday after a low of about $74.85. The token is down about 16% over seven days, 26% over 30 days and 74% from its all-time high of $293.31 in January 2025.

At today's price, the 5.62 million SOL Pump.fun has sold would be worth about $426 million. By selling at an average of $158, the platform locked in more than twice that.

Neither the plan from DTCC to bring tokenized securities to Solana nor a probe by China's central bank into the network over illegal crypto services has stopped SOL's ongoing slide.

PUMP unlocks move to Coinbase Prime

EmberCN reported that three wallets belonging to Pump.fun's team or early investors moved 1.458 billion newly unlocked PUMP, worth about $5.01 million, to Coinbase Prime. The same wallets moved the same monthly amount on Oct. 13, when it was worth about $7.58 million.

Those wallets hold a combined allocation of 70 billion PUMP that began unlocking in July. PUMP is trading near $0.0034, down about 61% from its September 2025 peak.

Broader market sell-off adds pressure

The deposits come as the crypto market faces over $330 million in liquidations in less than two hours. Bitcoin fell under $67,000 while SOL dropped below $75, and memecoin activity, the engine behind Pump.fun's fees, has cooled along with the broader market.

The question for SOL holders is whether the $75 area holds as support.

Source: Bitcoin News

Trading involves risk.

Author

PrimeXBT

Our Editorial Team consists of leading experts with a proven record in the fields of trading, cryptocurrencies, blockchain and finance. We thoroughly research the sources of information in order to provide readers with quality content that serves edu...

Read author’s articles

Risk Disclaimer

Disclaimer: Some past publications may be outdated. We recommend following our news to stay up to date with the latest information. For any questions, feel free to contact our support team via the chat below.
The content provided here is for informational purposes only. It is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results.
The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.