Pump.fun Moves $8.16M in SOL to Kraken, Sparkling Speculation

Pump.fun, a prominent Solana-based automated market maker (AMM), has made a significant move with a deposit of $8.16 million worth of SOL to Kraken exchange. This large transaction was uncovered by on-chain analytics firm Lookonchain and reveals a broader transfer totaling over $534 million in total. Pump.fun’s recent activity suggests strategic moves, potentially aiming for liquidity management or facilitating institutional offloading. 65,284 SOL worth approximately $8.16M were deposited to Kraken as part of this transaction.