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Cryptopolitan
6 minutes ago
Pumpfun Deposited 148,759 SOL ($28.22M) to Kraken Again, Earning a Cumulative Total of $540.5M

According to Lookonchain data, Pumpfun deposited an additional 148,759 Solana to Kraken today. The new deposit brought the total tokens deposited to the centralized exchange to 2,280,377, worth $462 million. 

Lookonchain, an on-chain analytics platform, reported that Pumpfun deposited more Solana tokens to the centralized exchange Kraken.  The analytics platform revealed that the Solana-based meme-coin deposited SOL worth $28.22 million, bringing the total deposits to 2,280,377.

Pumpfun deposits 148,279 SOL to Kraken again   

Lookonchain revealed that Pumpfun had sold 264,373 Solana for over $41 million, accumulating 2,727,677 Solana. On February 7, Pumpfun made a similar transaction by depositing 140,285 SOL worth $26.61 million to the centralized exchange. 

Pumpfun(@pumpdotfun) deposited 148,759 $SOL($28.22M) to
#Kraken again 30 mins ago.

So far, #Pumpfun has deposited 2,280,377 $SOL($462M) to #Kraken and sold 264,373 $SOL for 41.64M $USDC.#Pumpfun has earned a total of 2,844,614 $SOL($540.5M).https://t.co/nV7J1QTdGv pic.twitter.com/oD5Lbv6xld

— Lookonchain (@lookonchain) February 13, 2025

According to Lookonchain data, this followed a series of deposits where Pumpfun previously transferred 2,131,617 SOL worth over $400 million to Kraken. 

After the deposit on Feb 7, the $ SOL/$ USDT trading pair on Kraken recorded a slight decline of 1.2%, dropping from $190.05 to $187.83 in 15 minutes.  The decline suggested the market might have reacted to potential increased selling pressure triggered by Pumpfun’s holdings. 

The currency pair’s trading volume also increased by 35%, amounting to $1.2 million Solana traded within the same time. According to Coinmarketcap, other Solana-related tokens such as Serum($SRM) or Raydium ($RAY) also recorded increased trading volumes shortly after the deposits.

Arkham data also revealed that on January 2, the launchpad transferred 120,000 SOL worth approximately $22.88 million to Kraken. Shortly after the transfer, Solana experienced a 2.94% drop in 24 hours. 

Lookonchain data suggested the possibility of a sell-off in November; however, Pump Fun responded to the analytics platform, denying the allegations. Lookonchain later acknowledged the misunderstanding, citing that asset transfers to exchanges do not necessarily translate to sales. 

The launchpad reportedly halted its sales after September 19, when it shifted to depositing SOL into Kraken. Market watchers commented that Kraken deposits may indicate Pumpfun intends to sell in the future, given its previous history of on-chain SOL sales. However, due to Pumpfun’s denial of a sell-off and lack of onchain data, the nature of the transactions remains unknown.

Pumpfun was launched in January 2024 to enable users to create tokens on the Solana ecosystem. Initially, the platform required fees to launch tokens; however, after a few months, the service was free to its users.

Pumpfun suspends live stream feature following backlash

Dune data revealed that Pumpfun drove 62.3% of all decentralized exchange transactions on Solana in November 2024. Despite its success, Pumpun reportedly faced criticism for its inappropriate content on its live streaming feature. The platform was accused of unethical behavior that promoted meme coins. 

Pumpfun responded to the criticism by suspending its live stream feature indefinitely. The platform’s official announcement revealed it had experienced unprecedented growth within the year. 

It added that the number of live streams grew over 100 times in a week. Pumpfun said that with the growth, abuses were reported on the platform.  Pumpfun acknowledged it had stayed active in taking down the content from the platform. 

The platform added it had also doubled its human moderators and continued to invest in moderation systems to enable moderators to deal with inappropriate content swiftly. It said that it had opted to halt the livestream to ensure the safety of its users. 

Pumpfun promised to ensure the platform grew stronger through the challenges faced. It added that it planned to be more transparent in its publishing guidelines to avoid similar occurrences in the future. 

According to community updates, there was an alleged report of one user who committed suicide after using the platform to farm memecoins. Other reports made on the platform included a user who allegedly commented he would kill children if his meme coin failed to reach his desired market cap.

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    📅 Activity Period: 2025-02-13 08:00 (UTC) – 2025-02-14 23:59 (UTC)

      DAI to AED:
      1 Dai equals د.إ3.670462 AED+0.01%1D
      DAI to AED:
      1 Dai equals د.إ3.670462 AED+0.01%1D
      AED
      Page last updated: 2025-02-13 20:26 (UTC+0)
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      Note: This information is for reference only.

      Price of DAI today

      The live price of Dai is د.إ3.670462 per (DAI / AED) with a current market cap of د.إ19.69B AED. 24-hour trading volume is د.إ866.00M AED. DAI to AED price is updated in real-time. Dai is +0.01% in the last 24 hours with a circulating supply of 5.37B.
      DAI Price History AED
      Date ComparisonAmount Change% Change
      Todayد.إ0.000537+0.01%
      30 Daysد.إ0.000549+0.01%
      60 Daysد.إ0.000736+0.02%
      90 Daysد.إ0.001004+0.03%

      DAI Market Information

      24h Low & High
      Low: د.إ3.668267
      High: د.إ3.671849
      The highest and lowest price paid for this asset in 24 hours.
      All Time High
      د.إ13.46
      The highest price paid for this asset since it was launched or listed.
      Price Change (1h)
      +<0.01%
      The percentage change in price for this asset compared to 1 hour ago.
      Price Change (24h)
      +0.01%
      The percentage change in price for this asset compared to 24 hours ago.
      Price Change (7d)
      +0.02%
      The percentage change in price for this asset compared to 7 days ago.

      DAI Market Information

      Popularity
      #27
      Popularity is based on the relative market cap of assets.
      Market Cap
      د.إ19.69B
      Market cap is calculated by multiplying the asset's circulating supply with its current price.
      Volume (24hours)
      د.إ866.00M
      The total dollar value of all transactions for this asset over the past 24 hours.
      Circulation Supply
      5.37B
      The number of coins circulating in the market and available to the public for trading, similar to publicly traded shares on the stock market.
      Total Maximum Supply
      --
      The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.
      Fully Diluted Market Cap
      د.إ19.69B
      The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.

      What Can You Do With Dai (DAI)?

      Explore how to use your cryptocurrencies with Binance.

      About Dai (DAI)

      Dai is a decentralized network whose native cryptocurrency, DAI, launched on the Ethereum blockchain network at the end of 2017. DAI is a stablecoin that maintains its peg to the US dollar through a unique system.

      An intricate network of smart contracts and ecosystem participants maintains the DAI-USD peg, and DAI is maintained and regulated by a governance system implemented by MakerDAO and its MKR governance token.

      There are two versions of Dai: Single-Collateral Dai (SAI) and Multi-Collateral Dai (MCD). SAI was initially backed only by Ethereum, had a fixed stability fee, and used automatic liquidation. MCD can be backed by multiple types of collateral, has a more flexible stability fee, and uses a keeper system for liquidation.

      SAI has been replaced by MCD and is no longer being developed or supported. SAI holders were able to migrate to MCD. The current price of DAI is updated and available in real time on Binance.

      The depegging of DAI in February 2023 led to a $3 billion loss for the protocol, prompting discussions of a backup system. To prevent future depegging of its stablecoin DAI, MakerDAO is considering using an emergency switch. MakerDAO's emergency switch is designed to give the protocol more flexibility in responding to market conditions and maintaining the stability of its stablecoin.

      People Also Ask: Other Questions About DAI

      1. What is DAI Used For?

        DAI is primarily used for trading and investing in cryptocurrencies, as it provides a stable store of value that can be used to hedge against market volatility. It can also be used to make purchases and payments, as it is accepted by a growing number of merchants and businesses. Additionally, DAI can be used as collateral to secure loans or as a means of transferring value across borders without incurring high fees or delays.

      2. How Does the Dai Network Operate?

        DAI works with the MAkerDAO ecosystem in a unique and specific way. MakerDAO’s smart contracts represent the decentralized applications (DApps) that facilitate an over-collateralization and repayment process to incentivize network participants to maintain and govern the Dai network. This process is used to keep the ecosystem operating and the token’s value reflective of the US dollar.

        Ether or other cryptocurrencies are deposited as collateral by network participants, who then borrow DAI at a pre-determined rate against the value of their deposit. Loans can be liquidated by anyone if the collateralization ratio falls below a pre-set minimum level. After the loan and interest are repaid, the returned DAI is destroyed and the collateral is released back to the individual.

        This process is used to keep the DAI’s value pegged to that of the US dollar. The MakerDAO protocol manages this by controlling the types of accepted collateral, collateralization ratios, and the interest rates for borrowing and storing DAI.

      3. Who is the Founder of DAI?

        The DAI stablecoin was created by the MakerDAO project, which was founded by Rune Christensen in 2015. MakerDAO is a decentralized autonomous organization (DAO) that operates on the Ethereum blockchain, and the DAI stablecoin is its flagship product. Christensen continues to be involved in the development and governance of the MakerDAO ecosystem.

      4. What is the Maximum Token Supply of DAI?

        There is no maximum supply for DAI since it is created based on the collateral provided by those who demand it. At the time of writing, the circulating supply of DAI is 5.2 billion.

      5. What Makes DAI Different From Others?

        DAI offers a key advantage by being managed through a decentralized autonomous organization and self-enforcing smart contracts, promoting transparency and reducing the risk of corruption. Additionally, the democratic governance structure allows for direct voting by participants, ensuring a more inclusive decision-making process. DAI's decentralized structure makes it an attractive alternative to traditional centralized financial systems.

      6. How To Buy Dai (DAI)?

        DAI can be purchased directly from Binance by using a debit or credit card. DAI can also be traded for other cryptocurrencies on the Binance Exchange. Live DAI price is updated in real-time on the Binance Exchange. Additionally, DAI price and purchase information is available in our How to Buy Dai Guide.

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