Lookonchain
Pump.fun deposited 67,482 $SOL ($4.51M) to Kraken over the past hour, extending a multi-month selling streak that has now totaled 4.53M $SOL ($784.7M) at an average price of $173.
Why it matters
Pump.fun's launchpad revenue is structurally tied to $SOL throughput — memecoin launches pay gas in SOL, and the protocol sweeps treasury proceeds into the market. A treasury this size selling into spot exchanges is a persistent, programmatic overhang on $SOL, not a one-off liquidation. The $173 average sale price is now a known reference level for every market participant watching the flow.
Market impact
The pattern reads as distribution: steady deposits to a regulated venue rather than OTC desks, in sizes large enough to clear natural bid depth. Each tranche puts incremental pressure on $SOL's short-term order book, and the cumulative $784.7M since the run began is a non-trivial share of average daily $SOL turnover on a single venue. Watch whether the next deposit lands inside or outside US trading hours — that timing will signal whether the treasury is running on a schedule or reacting to spot liquidity.
Frequently asked questions
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How much $SOL has Pump.fun sold in total?
On-chain data shows Pump.fun has deposited 4.53M $SOL ($784.7M) to Kraken at an average sale price of $173 since the selling streak began, with 67,482 $SOL ($4.51M) hitting the exchange in the past hour alone.
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Why is Pump.fun selling $SOL?
Pump.fun's launchpad revenue is denominated in $SOL — memecoin launches pay gas in SOL and the protocol sweeps treasury proceeds into the market, making the treasury a structural and programmatic seller rather than a discretionary one.
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What is the average price Pump.fun has sold $SOL at?
The cumulative average sale price across the 4.53M $SOL offloaded is $173, a level that now serves as a reference point for market participants tracking the flow.
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Where is Pump.fun sending the $SOL?
The deposits are landing on Kraken, a regulated spot venue, rather than OTC desks — a pattern consistent with distribution into public order books rather than private block trades.
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What should traders watch next?
The timing of the next deposit tranche: inside US trading hours suggests reactive selling into spot liquidity, while outside US hours implies a scheduled treasury cadence — either way adding to the persistent $SOL overhang.
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