Pump.fun sells 64,666 Solana as total liquidations reach $887m
The memecoin launchpad moved $5.19 million worth of tokens to the Kraken exchange, continuing its trend of converting protocol fees into liquid assets.
Key takeaways
- 1Pump.fun deposited 64,666 SOL worth $5.19 million into Kraken in its latest transaction.
- 2Total sales from the platform have reached 5,618,499 SOL worth $887.6 million.
- 3The average sale price for the protocol's total liquidations is $158 per token.
Pump.fun deposited 64,666 Solana into the Kraken exchange in its latest transaction to liquidate approximately $5.19 million in tokens. On-chain data shows the transfer follows a regular pattern of sales by the protocol to convert its earnings. This activity follows a previous move on 6 November when the platform sent 76,111 SOL to the same exchange.
The platform has now sold a total of 5,618,499 SOL, generating approximately $887.6 million in revenue. The platform has carried out these disposals at an average price of $158 per token. It earns these tokens through fees paid by users who launch and trade memecoins on its interface.
Pump.fun is the highest-earning application on the Solana network, though it remains a controversial figure in the market. Solana co-founder Anatoly Yakovenko excluded the app from a recent list of recommended projects despite its high transaction volume. The platform converts its SOL earnings into liquid funds by depositing them to centralised trading desks.
Traders often view large-scale selling by major network participants as a source of downward pressure on token prices. The market will watch for whether the platform continues to sell its holdings or if it begins to retain more of its revenue. These transfers provide a transparent record of how much capital the platform is extracting from the network.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.