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Pump.fun, a leading memecoin launchpad, has sold another 105,000 SOL tokens, valued at $25.14 million, intensifying pressure on Solana’s price. Blockchain analytics platform Lookonchain revealed the transaction, noting that the tokens were transferred to Kraken in a single move. This marks the latest in a series of <a href="https://www.cryptotimes.io/2024/09/04/solana-drops-12-as-pump-fun-sells-41m-in-tokens/" target="_blank" rel="noreferrer noopener">similar sales</a> by Pump.fun, which has been steadily cashing out its fee revenue in recent months.&nbsp;&nbsp; 
<div class="wp-block-image"> 
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 <img decoding="async" width="446" height="459" src="https://www.cryptotimes.io/wp-content/uploads/2024/11/look.png" alt="Pump.fun seold SOL" class="wp-image-215875" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/11/look.png 446w, https://www.cryptotimes.io/wp-content/uploads/2024/11/look-272x280.png 272w" sizes="(max-width: 446px) 100vw, 446px">
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 Source: <a href="https://x.com/lookonchain/status/1858583314933927991" target="_blank" rel="noreferrer noopener nofollow">Twitter</a>
 </figcaption>
 </figure>
</div> 
The timing of the sale is significant. Solana’s price has increased, climbing from $135 to nearly $180, approaching its all-time high (ATH) and currently, it is priced at $241.66. This isn’t the first time Pump.fun has sold large quantities of SOL during a price surge.&nbsp; 
Earlier this month, the platform sold 43,000 SOL when the token breached the $200 resistance level.&nbsp;&nbsp; 
Since its inception, Pump.fun has accumulated a total of 1,307,966 SOL in fees, worth approximately $315 million. The platform has already offloaded 898,243 SOL, equivalent to $157 million. These sales, reportedly used for operational costs, have sparked discussions within the crypto community.&nbsp; 
While some argue that the platform is entitled to its earnings, others worry that the continuous selloffs could negatively impact Solana’s price stability.&nbsp;&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/11/19/mantra-om-price-surge-fades-as-whales-begin-to-sell-off/" target="_blank" rel="noreferrer noopener">Mantra (OM) Price Surge Fades as Whales Begin to Sell Off</a> 
</blockquote>

Pump.fun Unloads $25M SOL Amid Solana’s Price Surge

The Crypto Times

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