Pump.fun transferred 81,712 SOL tokens, worth approximately $6.15 million, to the Kraken exchange on July 18, 2026, continuing its pattern of significant SOL sell-offs.
Since January 2024, Pump.fun has sold around 4.81 million SOL, generating roughly $812 million in revenue at an average sale price of $168.70 per token. The platform launched with a 1% trading fee on token swaps and has accumulated over $1 billion in total revenue, including $664 million in 2025 and about $124.7 million in the first quarter of 2026.
This sustained selling activity coincides with a sharp decline in memecoin trading and Solana network usage, pressuring the protocol's fee income and token price. Pump.fun emerged as a leading app on Solana during the memecoin surge, but as trading volume diminishes, it converts its earnings into fiat via SOL sales on Kraken.
The recent transfer adds to the long-term trend of SOL liquidations by Pump.fun, raising questions about the future impact on Solana’s ecosystem amid weakening revenue streams and token performance.
