Pump.fun, a Solana-based token issuance platform, has transferred a substantial amount of SOL to the Kraken exchange. According to blockchain analytics firm Arkham Intelligence, a wallet associated with Pump.fun deposited 120,000 SOL, worth approximately $22.88 million, into Kraken at 1:37 AM (KST) on March 8, 2023. This transaction follows a series of large SOL transfers by Pump.fun over the past few weeks. Its current holdings stand at 172,000 SOL and 101,000 JITSOL, with a combined value of $55.19 million. The reasons behind these SOL transfers remain unknown, but it is speculated that Pump.fun may be preparing for future developments or seeking to diversify its holdings. Kraken, known for its robust security measures and high trading volume, is a popular destination for large-scale cryptocurrency transactions.