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Pump.fun Deposits $15.86M SOL to Kraken, Sells 264,373 SOL for 41.64M USDC

Coin WorldFriday, May 2, 2025 11:14 am ET

1min read

On May 2nd, pump.fun made a significant move by depositing an additional 105,233 SOL to Kraken, valued at approximately $15.86 million. This transaction marks the latest in a series of deposits made by pump.fun to the centralized exchange.

As of the latest update, pump.fun has cumulatively deposited a total of 3,202,498 SOL to Kraken, with an average price of $185 per SOL. This substantial deposit brings the total value of SOL held by pump.fun on Kraken to around $591 million.

In addition to the deposits, pump.fun has also engaged in selling activities. The platform has sold 264,373 SOL at a price of $158 per SOL, resulting in the receipt of 41.64 million usdc. This selling activity indicates a strategic move by pump.fun to liquidate a portion of its SOL holdings, potentially to manage liquidity or to capitalize on market conditions.

The series of deposits and selling activities by pump.fun highlight the platform's active involvement in the cryptocurrency market. The decision to deposit such a large amount of SOL to Kraken suggests a confidence in the exchange's security and liquidity. Furthermore, the selling of a significant portion of SOL for USDC indicates a strategic approach to managing assets and potentially hedging against market volatility.

The actions taken by pump.fun underscore the dynamic nature of the cryptocurrency market, where large players can influence market conditions through their transactions. The deposit of 105,233 SOL to Kraken, valued at $15.86 million, is a notable event that reflects the platform's strategic decisions and its impact on the broader market.

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