Pump.fun Transfers $22.88M in SOL to Kraken Amid Market Surge

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Pump.fun, a leading platform for launching meme coins, has recently transferred approximately 132,000 SOL, valued at $22.88 million, to the cryptocurrency exchange Kraken. This move aligns with the platform’s established practice of processing transaction fee revenue regularly.

Consistent Revenue Transfers

According to on-chain data shared by cryptocurrency analyst EmberCN, this transfer represents Pump.fun’s accumulated transaction fee revenue over the past week. The analyst noted that the platform typically moves SOL to Kraken after collecting one to two weeks’ worth of fees.

“Pump.fun transferred 132,000 SOL ($22.88 million) in transaction fee revenue to Kraken a few hours ago,” said EmberCN.

Data provided by EmberCN also reveals that Pump.fun has sold approximately 3.868 million SOL over the past year, generating over $701.76 million in revenue at an average selling price of $183.38 per SOL.

Regular Transaction Patterns

Historical records show that Pump.fun executes such transactions consistently. Notable transfers include 117,913 SOL at $154.31 on April 25 and 118,718 SOL at $150.52 on May 2. The latest transfer on May 11 reflects a slight increase in volume compared to previous transactions.

Impact of Solana’s Market Performance

The recent transfer coincides with Solana’s strong market performance. SOL has gained 20% over the past week and surged 47.1% over the last 30 days, climbing from approximately $140 to as high as $178 during this period. This growth has bolstered the Solana-based meme coin market, which saw a 1.8% increase in capitalization to reach $13 billion in the last 24 hours.

Several prominent Solana meme coins have posted significant gains recently. These include:

• Trump (up 25%)
• Bonk (up 38%)
• Fartcoin (up 20.5%)
• Dogwifhat (up 62%)

Pump.fun’s Role in the Solana Ecosystem

Pump.fun has cemented its position as a prominent meme coin launchpad within the Solana network. The platform enables users to create and deploy tokens with minimal technical expertise. Revenue is generated through fees for token creation and transactions, which are collected in SOL before being periodically converted into other currencies via exchanges like Kraken.

The Pump.fun ecosystem currently boasts a market capitalization of $4.84 billion, reflecting a 3.6% change within the last 24 hours.

Top Seven-Day Gainers on Pump.fun

The following cryptocurrencies within the Pump.fun ecosystem have shown the highest gains over the past week:

Pump.fun continues to play an essential role in the Solana ecosystem, driving growth and supporting the emergence of new meme coins. With consistent revenue processing and a robust market presence, the platform is positioned as a key player in the cryptocurrency space.

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