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▲ Solana (SOL), Pump.fun, Memecoin, Cryptocurrency Scam, Casino/AI Generated Image ©
Pump.fun, a Solana (SOL)-based memecoin issuance platform, has continued its large-scale Solana sales, recording a cumulative cash-out of $848 million. The systematic financial management of converting vast fee revenues into cash is drawing market attention.
According to U.Today, a virtual asset media outlet, on September 27 (local time), on-chain analysis platform Lookonchain reported that Pump.fun recently sold 47,994 SOL. This sale volume amounts to approximately $5.83 million. With this sale, Pump.fun's cumulative sales volume has increased to 5,236,623 SOL. The total cumulative sales proceeds are $848 million, with an average selling price of around $162.
Pump.fun generates revenue through a 1% fee incurred during token issuance and trading. The platform's cumulative total protocol revenue has already exceeded $1 billion. According to Arkham, an on-chain data tracking platform, Pump.fun regularly cashes out Solana accumulated in its fee accounts by transferring it to the virtual asset exchange Kraken. The market evaluates this not as short-term profit-taking but as asset management based on an automated financial schedule.
A significant portion of the sales proceeds is reinvested into maintaining its ecosystem and defending token value. Pump.fun is operating a program that uses 50% of its net profit to buy back and permanently burn its native token, PUMP. So far, the PUMP token buyback executed with Solana sales funds alone amounts to approximately $457 million.
Despite the large-scale selling pressure, the Solana market price has maintained a relatively stable trend. This is attributed to the transparent disclosure of sales timing and volume through on-chain data tracking, as well as robust spot buying demand absorbing the selling pressure. Investors' attention is focused on Pump.fun's large-scale cash-out movements, which have become a major capital flow within the Solana ecosystem.
[Article Key Summary]
-Pump.fun recorded a cumulative cash-out of $848 million by selling an additional 47,994 SOL (approximately $5.83 million).
-The platform's cumulative revenue has exceeded $1 billion, and sales are regularly executed through the Kraken exchange.
-Approximately $457 million of the sales proceeds were used as funds for the buyback and burning of its native PUMP token.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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