The memecoin launchpad Pump.fun has again withdrawn a large amount of Solana (SOL) to Kraken. According to the data obtained from Onchain Lens, 54,113 SOL worth approximately $7.81 million were transferred to the exchange.
It is not the first time that such a large transfer was recorded this year: Pump.fun sold more than 1.5 million SOL for $293.26 million in 2025 alone. The launchpad had earlier sold 120,000 SOL in January and 148,759 SOL in the last month, which raised questions about the selling pressure on Solana.
However, others believe that Pump.fun might have other motives for its constant transactions in the coins. The launchpad has also introduced a DEX known as PumpSwap to increase the level of liquidity and to minimize the use of centralized platforms such as Kraken.
While the move could help strengthen the company’s ecosystem, it is still uncertain whether it can boost investor confidence. The transfers have not affected Solana’s price significantly, as it has remained more or less stagnant. After the February transaction, SOL declined by 1.2% but then started to rise again.
There are different opinions regarding Solana among analysts, some of whom expect it to reach $520 in the long term. At the moment, SOL is at $141.74, which is 2.34% higher than the price it was a day ago.
Also Read: Fidelity Files For Spot Solana ETF with Cboe; SOL Price Pumps to $146
