Pump.fun has moved another 47,994 SOL, worth about $5.83 million, to Kraken as on-chain trackers continue watching the platform’s large treasury transactions.
Lookonchain reported on Sept. 27 that the transfer happened around two hours before its update. The tracker classified the transaction as another Pump.fun sale and estimated that the platform has now sold about 5.236 million SOL worth roughly $848 million since its operations began.
The latest transfer confirms that the SOL reached a Kraken-controlled wallet, but a deposit to an exchange does not automatically prove that all of the tokens were sold.
At the time, Solana was trading near $121, up about 1% over the previous 24 hours and around 11.6% over the past week.
Pump.fun has been making large SOL transfers to Kraken for several years. On-chain analysts have tracked these movements as part of the platform’s treasury activity.
In May, Lookonchain estimated that Pump.fun had sold around 4.47 million SOL for roughly $780 million at an average price of about $175. Around 4.20 million SOL had been sent to Kraken, while another 264,373 SOL was sold directly on-chain for about $41.6 million in USDC.
Pump.fun also made several large transfers during 2025. In June, the platform moved 132,180 SOL worth about $20.87 million to Kraken. Earlier in February, another 65,122 SOL worth around $11 million was transferred.
The latest estimate of 5.236 million SOL combines these transactions over a longer period. The $848 million figure comes from Lookonchain’s calculations and is not a financial figure directly reported by Pump.fun.
Solana remained above $120 after the latest transfer, with no major immediate price reaction linked to the transaction.
SOL was trading around $121.38, with daily trading volume near $2.83 billion and a market value above $71 billion. The token had gained about 11.6% over the previous seven days.
Pump.fun’s SOL movements are also happening alongside its large PUMP token buyback and burn program.
According to Pump.fun’s dashboard, the platform had spent around $463.5 million buying and burning about 167.91 billion PUMP tokens by Sept. 25.
The platform says around 50% of its revenue is being used for PUMP purchases and burns. On Sept. 25, Pump.fun spent about 7,100 SOL, worth around $838,200, to buy 208.9 million PUMP tokens.
A day earlier, it used around 7,200 SOL worth $832,400 to purchase another 211.8 million PUMP.
Daily buybacks between Sept. 16 and Sept. 25 generally ranged from about 6,800 to 8,700 SOL.
Pump.fun says the PUMP tokens purchased through the program are permanently burned. By Sept. 25, the platform reported that about 16.79% of the original one trillion PUMP supply had been removed.
The company has also said that past buybacks should not be viewed as a promise that the same level of activity will continue outside its programmed allocation.
The difference between an exchange deposit and an actual sale is important. When Pump.fun sends SOL to Kraken, the blockchain shows that the tokens reached an exchange-controlled address. What happens afterward takes place inside Kraken’s system and is not visible on the Solana blockchain in the same way.
Kraken does not publicly show how individual Pump.fun deposits are handled after they arrive.
Previous activity also shows why the distinction matters. Lookonchain has tracked millions of SOL moving to Kraken, while some separate transactions have clearly shown SOL being exchanged on-chain for USDC.
Overall, the latest 47,994 SOL transfer adds to Pump.fun’s long-running pattern of moving large amounts of SOL to Kraken. While Lookonchain counts these movements as sales, the blockchain data itself confirms the transfers to the exchange, not necessarily an immediate sale of every token.
