Pump.fun transferred 600 million USDC to Kraken in October, revealing the large-scale sale of SOL

【CryptoWorld】On-chain data reveals another big scoop. According to tracking analysis by Lookonchain, over the past ten months, the Pump.fun project has transferred a total of $617.5 million USDC stablecoins to Kraken, while also moving 1.1 billion USDC to Circle through wallet channels. The story behind this is even more interesting — since May last year, Pump.fun has sold a total of 4.19 million SOL tokens, equivalent to $757 million, with an average transaction price of $181. The majority of the funds have flowed into the Kraken exchange.

This series of operations reflects that the project team is gradually liquidating tokens while consolidating funds in mainstream exchanges. For the SOL ecosystem and market participants, such large-scale fund flow data is usually an important reference for judging the project’s intentions. Is it to enhance liquidity reserves or to prepare for subsequent operations? Different market interpretations exist. However, based on the scale of the data, this amount of funds is definitely worth paying attention to.