Pump.fun moved another 154,000 SOL to Kraken on June 10, pushing its total exchange transfers to 3.64 million SOL.
Author: Sahil Thakur
June 11, 2025 – Pump.fun moved another 154,000 SOL to Kraken on June 10, pushing its total exchange transfers to 3.64 million SOL. That’s now over $670 million in Solana moved since early 2024.
The SOL comes from Pump.fun’s main fee wallet. The platform collects transaction fees in SOL and moves them to Kraken regularly, often weekly.
These transfers raise concerns. Traders worry about sell pressure on SOL. Pump.fun confirmed it sold at least 264,373 SOL (~$41.6 million) for USDC. Many suspect more is being sold, though the team insists some funds may be held or used as collateral.
Large transfers often trigger price drops or increase market uncertainty. SOL has already seen high volatility this year, swinging between $124 and $233.
Pump.fun’s fee revenue has dropped sharply in recent months. In March, daily fee income fell from 12,000 SOL to under 1,000 SOL. This drop may be driving more aggressive treasury management.
The platform is under pressure from rising competitors like Raydium LaunchLab. It also faces legal and regulatory scrutiny, including a UK ban and class-action lawsuits. These issues could explain the consistent SOL outflows.
Pump.fun recently launched , a decentralized exchange. The move could help reduce dependence on . But without clear details on what happens to the SOL after each transfer, doubts remain.
Traders will watch closely. If more SOL continues to hit exchanges, SOL’s price could face further pressure. A slowdown in transfers- or proof that the SOL isn’t being sold, could ease market concerns.
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