On January 8, 2025, Lookonchain reported that Pump.fun, a notable player in the Solana ecosystem, deposited 98,594 SOL, valued at approximately $20.47 million, to the Kraken exchange. This recent deposit adds to Pump.fun’s ongoing series of significant transactions, bringing the total amount of SOL deposited to Kraken to 1,662,657 SOL, equivalent to $337 million. Additionally, Pump.fun has sold 264,373 SOL for 41.64 million USDC, contributing to a total earnings figure of 2,129,336 SOL, valued at $428 million.
Introduction to Pump.fun:
Pump.fun is a Solana-based platform known for facilitating the launch of meme coins with instant tradability without the need for initial liquidity seeding. It provides developers with tools to deploy tokens quickly and efficiently, and it has become a significant entity in the crypto space due to its strategic token sales and deposits to centralized exchanges like Kraken.
Pump.fun’s History of Token Purchases and Sales:
December 4, 2024: Pump.fun deposited 100,000 SOL, worth around $23.45 million, to Kraken, bringing their total revenue to 1,599,597 SOL ($372M). They have sold 1,363,242 SOL for approximately $265 million on decentralized exchanges (DEXs) before depositing to Kraken. Source: blockchainreporter.net
January 2, 2025: Pump.fun made a deposit of 63,171 SOL ($13.11M) to Kraken, increasing the total deposited SOL to 1,564,064 ($316.5M). They also sold 264,373 SOL for 41.64M USDC during this period. [Source: Lookonchain Thread 1]
January 2, 2025 (earlier in the day): Prior to the above transaction, Pump.fun deposited 292,437 SOL ($55.5M) to Kraken after a 23-day gap, with the total deposited SOL reaching 1,500,893 ($303M) and total earnings at 2,016,391 SOL ($398M). [Source: Lookonchain Thread 3]
Pump.fun’s activity demonstrates a calculated approach to liquidity management, leveraging the Solana ecosystem to generate substantial revenue through strategic token sales and deposits. Their consistent engagement with centralized exchanges like Kraken underscores their role in shaping liquidity and market dynamics within the Solana blockchain community.
