Solana-based meme coin platform Pump.fun has taken action for a massive sale again.
According to data provided by blockchain analytics platform Lookonchain, Solana’s meme coin factory Pumpfun has processed a significant amount of Solana (SOL) transactions.
On December 2, the site’s wallets made another transfer of 100,000 SOL ($22.47 million) for sale to cryptocurrency exchange Kraken.
Pump.fun recently faced rumors of being shut down, which caused major FUD for the Solana ecosystem and worried investors.
The wallet, which has transferred a total of 898,869 SOL ($176.44 million) to Kraken so far, sold 264,373 SOL of this amount for 41.64 million USDC. These transactions are considered a move that could cause significant selling pressure in the market.
Data shows that the Pumpfun wallet has raised a total of 1.573 million SOL ($354.73 million) to date. This large amount demonstrates that interest in the Solana ecosystem is high and the wallet plays a critical role in liquidity movements.
Lookonchain emphasized that it will continue to monitor the impact of these transactions on the market. Such large-scale movements are closely watched by both investors and market analysts.
Stay tuned.