Pump.fun transferred 84,789 SOL, worth $6.25 million, to Kraken on August 7th, bringing its cumulative sales to approximately $807 million. Despite sustained selling pressure, SOL held above its key support level at $71.95 as buyers absorbed part of the supply heading to exchanges. On Binance, top traders remained overwhelmingly bullish with a Long/Short Ratio of 3.28 and 76.64% of accounts positioned long. The OI-Weighted Funding Rate stayed positive at 0.0047%, indicating that long traders continued paying shorts to maintain their positions. Losing the $71.95 support would expose the market to a wave of long liquidations, with the next support at $67.48.
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