On-chain analyst EmberCN reported that Pump.fun (PUMP), a Solana (SOL)-based memecoin issuance platform, resumed cashing out fee revenues after about a month, depositing 122,500 SOL ($10.08 million) to Kraken 6 hours ago. Deposits to exchanges are typically interpreted as being for the purpose of selling. According to EmberCN, Pump.fun is estimated to have sold 4.73 million SOL ($805 million) received as fee revenue from early 2024 to the present at an average price of $170.
