Memecoin mining platform pump.funOn January 1, 120 thousand more SOL coins were transferred to the Kraken exchange. According to on-chain data, the current market value of this transfer is approximately $14.76 million. These sales of Pump.fun SOL coinIt is monitored carefully as it is considered a pressure factor for the price of .
Transfers Exceeded 1.5 Million SOLs
With this latest transfer solana The total amount of SOL sent by the memecoin-based platform Pump.fun to the Kraken exchange reached 1.5 million. The total value of this figure is more than 300 million dollars. The platform has obtained $41.64 million USDC by selling 264 thousand 373 SOL so far.
There are still 70 thousand 284 SOLs in Pump.fun’s commission account. in question LEFTThe value of the ‘s is 14.4 million dollars. Additionally, there is $24.4 million worth of Jito Staking SOL in the account.
Data Shows Platform Activity Declining
On the other hand, there is a remarkable decrease in the data regarding the Pump.fun platform. radidium Token transactions on the decentralized exchange have been declining since the peak of $2.58 billion on November 19, 2024. The platform’s daily revenues also decreased from $5.31 million on November 24, 2024 to $2.12 million on January 1, 2025.
The total economic value of the Solana network has likewise fallen. This value, which reached 27.6 million dollars on November 24, 2024, dropped to 4.65 million dollars as of December 30, 2024. There is a similar decrease in weekly transaction fees.
Last month, Blockchain analytics companies Chainalysisreviewed memecoins created by Pump.fun. The company’s product director stated that this development could be used to detect frauds and sudden price drops.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
