This article is about blockchain, trading, and technology news.

Solana (SOL) is up more than 10% after a $55 million transfer from the Pump.fun platform’s fee account to the Kraken exchange. The surge, which began at 18:00 UTC on January 1, was linked to large transfers that occurred about an hour earlier. Pump.fun has been putting significant selling pressure on Solana throughout 2024, depositing over $303 million worth of SOL into Kraken.

SOL’s price is projected to reach $400 by 2025. The approval of a Solana ETF in the US could have a positive impact on the price. Share your thoughts in the comments.