PumpFun Deposits $15 Million in SOL to Kraken; Total Transfer Exceeds $590 Million

The Solana-based meme coin launchpad, PumpFun, has once again deposited a significant sum of SOL into the crypto exchange Kraken. This latest transaction brings their total transfer to over $590 million. The platform’s recent move has been tracked by Lookonchain, which previously observed multiple transactions from PumpFun’s fee-collecting wallet to Kraken’s deposit address. In addition, Pumpfun has sold a substantial portion of its SOL holdings – 264,373 SOL – for $41.64 million in USDC at a rate of $158 per SOL. Pumpfun’s strategies reveal an active approach to extracting value from the platform’s users.