Pump.Fun sold approximately 47,994 SOL, worth $5.83 million, in just two hours, transferring these funds to Kraken with individual amounts ranging from under 2,000 SOL to a single transfer of 18,608 SOL worth over $2.26 million. In total, the platform has sold 5,236,623 SOL, valued at approximately $848 million, at an average execution price of $162 per SOL since it started methodically converting its accumulated trading fees. These massive sales reflect the substantial revenue generated by transaction fees on the platform, collected in SOL for every trade. Despite this intense selling pressure, the price of SOL has risen from $75 in early August to over $123 currently, demonstrating that broader demand has absorbed and offset these liquidations.
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