Pump.fun deposits $10.1M in SOL to Kraken

The Solana-based memecoin creation platform Pump.fun (PUMP) deposited 122,500 SOL, worth $10.08 million, to Kraken six hours ago, on-chain analyst EmberCN reported. The move marks the platform's resumption of cashing out its fee revenue after a pause of about one month. Exchange deposits are typically interpreted as a precursor to selling. According to EmberCN, Pump.fun is estimated to have sold 4.73 million SOL ($805 million) from its fee revenue since the start of 2024, at an average price of $170.