Pump.fun deposits $4.5M in SOL to Kraken

The Solana-based memecoin creation platform Pump.fun (PUMP) deposited approximately 67,000 SOL, worth around $4.51 million, to Kraken within the last 30 minutes, according to analysis from EmberCN. Deposits to exchanges are typically interpreted as a precursor to selling. The platform has consistently deposited a portion of the SOL generated from its fee revenue. Since the beginning of 2024, Pump.fun is estimated to have sold 4.61 million SOL, valued at roughly $795 million, at an average price of $172.