One of the leading players in the cryptocurrency market Pump.funrecently sold another batch of Solana (SOL) tokens. According to data obtained by on-chain data provider Look On Chain, the Pump.fun fee account sold 9,940 SOLs worth approximately $1.33 million approximately 20 hours ago. This latest sale brings the total amount of SOL sold by Pump.fun to 274,313 coins with a cumulative value of $42.93 million. The average sale price for these transactions is $156.5 per SOL.
Pump.fun’s Solana Sales Attract Attention with Their Timing
Pump.fun has been doing a lot of this lately To the left While the sales have attracted attention in the crypto world, the size and timing of the transactions are what makes the sales headlines. According to on-chain data, Pump.fun’s total revenue from token sales consists of 712,797 SOLs worth approximately $95.87 million.
Sales carried out by the platform for a while now, especially cryptocurrency marketGiven the volatile nature of the stock, it shows a calculated approach to take advantage of SOL’s price changes, where there are sharp price movements.
9 thousand 940 units LEFTThe recent sale of is the latest in a series of transactions by Pump.fun, which has been systematically reducing its holdings in Solana. The strategy behind these sales remains a matter of speculation, with some analysts suggesting that Pump.fun may be looking to sell at the highest price points to maximize its returns. Meanwhile, market watchers are closely monitoring the platform’s sales to gauge the potential impact on SOL’s market price and overall liquidity.
Pump.fun Sales Could Affect SOL’s Price in the Long Term
Pump.fun’s actions come at a time when Solana’s price is experiencing significant volatility. altcoinSolana’s price action is often affected by large trades, such as those made by organizations like Pump.fun. While the market’s reaction to these sell-offs is currently limited, the long-term effects of such significant sell-offs on the altcoin’s price and market sentiment remain to be seen.
At press time, Solana network’s underlying network asset SOL is trading at $134.76, up 2.34% in the last 24 hours.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
