10.06.2025 19:15

Pump.fun, a prominent player in the Solana ecosystem, has once again made headlines with a substantial deposit. This latest transaction involved transferring approximately 132,180 Solana (SOL) tokens, valued at roughly $20.87 million, to the Kraken cryptocurrency exchange. This follows a similar transfer of 156,000 SOL at the end of May, highlighting a consistent pattern of large-scale withdrawals.

Data obtained from internet sources reveals that Pump.fun’s 2025 SOL sales through exchanges already exceed a staggering $405 million, surpassing its entire 2024 cash-out of an estimated $303 million. Analysis of on-chain data indicates that Pump.fun has accessed over 2.47 million SOL, opting for direct liquidation via Kraken rather than pursuing alternative strategies such as staking or participation in decentralized finance (DeFi) applications.

This aggressive cash-out strategy, while generating substantial profits for Pump.fun, raises questions about its commitment to the Solana ecosystem's long-term health. Despite its massive $400 million payout, the platform is reportedly seeking an additional $1 billion from future token buyers. This incongruity underscores a complex financial model that prioritizes profit maximization over potentially sustainable ecosystem growth.

Despite this seemingly contradictory approach, Pump.fun's influence within the Solana network remains considerable. Holding over $191 million in reserves across several wallets – including approximately $100 million in one and an additional $68 million in another – Pump.fun maintains its position as a significant fee-payer to various Solana applications, notably the Jupiter aggregator and router. Its enduring popularity as a platform for launching new tokens and attracting users further solidifies its prominent role. While its future actions remain uncertain, Pump.fun is on track to potentially shatter its previous earnings record set in 2024.