Pump.fun Dumps Over $24M In SOL As Market Volatility Surges

Pump.fun has made headlines again by transferring 109,587 SOL , valued at $24.36 million, to Kraken just four hours ago. However, the pace of SOL selling from Pump.fun is expected to slow down in the coming months due to several factors: 1. Depleted Reserves: Pump.fun has nearly exhausted its SOL holdings over the past two months. The remaining assets include only 100,000 JITOSOL, valued at $25.85 million. 2. Decline in Fee Income: The hype around SOL-based meme transactions has diminished, leading to a significant drop in fee income. In November, Pump.fun earned 15,000–20,000 SOL daily in fees. By December, this has halved to approximately 10,000 SOL per day. pump. fun 在 4 小时前又转了 109,587 枚 SOL ($24.36M) 进 Kraken。 后面 pump 卖 SOL 的数量或频率应该就没有这段时间这么高了。因为： 1⃣他们地址里的 SOL 已经在过去一两个月高频出售基本卖的差不多了，就还有个 10 万枚的 JITOSOL ($25.85M)； 2⃣SOL 链 Meme 交易热情有所下降，pump… pic.twitter.com/rX4ByFh50i — 余烬 (@EmberCN) December 10, 2024 PumpFun Accumulated Over 1.5 Million SOL Since its inception, Pump.fun has accumulated roughly 1.655 million SOL in transaction fees. However, its sales volume has reached 1.546 million SOL, worth $300.76 million, with an average selling price of $195. NEW: Over $300 million has been liquidated on @Solana Perps exchanges in the past 24 hours. pic.twitter.com/5cxgOf1GxX — SolanaFloor (@SolanaFloor) December 10, 2024 Meanwhile, the broader cryptocurrency market has experienced heightened turbulence in the past 24 hours. Approximately $1.53 billion in positions were liquidated, with long positions accounting for $1.39 billion of the total. Solana’s ecosystem has also faced notable pressure, with over $300 million liquidated on Solana perpetual exchanges during the same period. JUST IN: In the past 24 hours, the cryptocurrency market experienced significant volatility, leading to the liquidation of approximately $1.53 billion in positions, with long positions accounting for $1.39 billion. pic.twitter.com/oPddXhxjeC — SolanaFloor (@SolanaFloor) December 9, 2024 Pump.fun’s latest activity and the ongoing market volatility highlight the shifting dynamics in the crypto space. While Solana remains a major player, declining transaction enthusiasm and broader liquidation trends may signal a cooling period for the network and its participants. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: jussang/ 123RF // Image Effects by Colorcinch