Pump.fun Moves Massive SOL to Kraken, Sparking Speculation on Profit or Liquidity

Solana-based memecoin platform Pump.fun has deposited over $660 million worth of SOL to Kraken, raising questions about its potential motives for the large transfers. Data reveals a sharp increase in SOL deposits since June 10th, reaching $404.64 million, with further transfers totaling over $20.87 million. Experts are speculating on whether these moves represent aggressive profit-taking or strategic liquidity preparation for a rumored billion-dollar token sale. 2,476,697 SOL deposited to Kraken this year suggest a significant financial maneuver by Pump.fun. While only 570,000 SOL remains in its fee account, the transfers signify either rapid profits or an anticipation of a liquidity strategy. This raises further questions regarding Pump.fun’s future plans with this influx of funds, particularly amid a noticeable decline in revenues.