The crypto wallet known as Pumpfun has made waves again, depositing 65,000 SOL (valued at $15.23 million) into Kraken just nine hours ago.
This marks another significant movement, bringing Pumpfun’s total deposits to Kraken to 798,869 SOL, worth approximately $154 million.
Of this amount, Pumpfun has already sold 264,373 SOL for $41.64 million in USDC. Despite these sales, the wallet remains highly profitable, with total earnings of 1,526,937 SOL, valued at $362 million at current prices.
https://twitter.com/lookonchain/status/1862311008414703963?t=7g6oPRwzJG5seLzIH7oWog&s=19
In tandem with Pumpfun’s activity, whale movements in the Solana ecosystem are gaining attention.
Two wallets, likely linked to the same individual, have collectively withdrawn 250,109 SOL (approximately $60 million) from Kraken over the past month. These large-scale withdrawals suggest significant accumulation, underscoring growing confidence among major investors in Solana’s potential.
Bullish Sentiment On Solana’s On-Chain Metrics
Solana’s on-chain and derivatives metrics further support this optimism. Analysts are pointing to the possibility of SOL revisiting its all-time high in the near term. This bullish sentiment is bolstered by the ecosystem’s sustained growth and the strategic positioning of key market players.
As whales and prominent wallets like Pumpfun continue to maneuver large volumes of SOL, market participants are keeping a close eye on Solana. Whether these actions signal a price rally or strategic profit-taking, the heightened activity around SOL reinforces its status as a key player in the evolving crypto landscape.
https://twitter.com/Cointelegraph/status/1861945606056362269?t=-CF8zjXn7o3nMtAVOo5gLA&s=19
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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The post Pumpfun And Whales Drive Solana Activity Amid Bullish Outlook appeared first on The Merkle News.
