Solana-Based Platform Pump.fun Sends $22.88 Million to Kraken
Pump.fun, a platform for launching meme coins, has moved about 132,000 SOL ($22.88 million) to the Kraken exchange. This transfer is part of the platform’s regular revenue processing.
Analyst EmberCN shared this details, noting that Pump.fun typically moves its accumulated transaction fees to Kraken after one to two weeks. the latest transfer follows this pattern.
Over the past year, Pump.fun has sold 3.868 million SOL, worth over $701.76 million. This shows the platform’s meaningful revenue since its launch.
Previous transfers include 117,913 SOL on April 25 and 118,718 SOL on May 2. The May 11 transfer shows a slight increase in volume.
This transaction comes as Solana’s market performance strengthens. SOL has risen 20% in the past week and 47.1% in the last 30 days.
The Solana meme coin market cap also increased 1.8% to $13 billion in the last 24 hours. Several SOL meme coins have gained, including trump (TRUMP), Bonk (BONK), fartcoin (FARTCOIN), and Dogwifhat (WIF).
Pump.fun is a key meme coin launchpad on Solana. It lets users create tokens with little technical knowledge. The platform charges fees in SOL, which it periodically converts to other currencies through exchanges like Kraken.
The Pump.fun ecosystem market cap is now $4.84 billion, up 3.6% in the last 24 hours. Top seven-day gainers include:
- Moo Deng (MOODENG): +328.5%
- Goatseus Maximus (GOAT): +145.2%
- Peanut the Squirrel (PNUT): +172%
