Pump.fun deposits $8.3M in SOL to Kraken

Pump.fun, the Solana-based memecoin issuance platform, has deposited 100,628 SOL ($8.32 million) to Kraken, EmberCN reported. Deposits to exchanges are typically interpreted as a precursor to selling. Pump.fun has a history of depositing SOL generated from fee revenue onto exchanges. Since the beginning of 2024, the platform is estimated to have sold 4.54 million SOL, worth $791 million, at an average price of $174.