Pump.fun De-risks Treasury: $436M USDC to Kraken and $757M SOL Sold Amid Memecoin Slowdown
Pump.fun, the Solana-based memecoin launchpad, has transferred $436.5 million in USDC to Kraken since mid-October and sold at least $757 million in SOL between May 2024 and August 2025. These treasury moves signal de-risking amid a downturn in memecoin trading and revenue, which plunged from January’s $137 million peak to $39.22 million last month. On-chain data shows Pump.fun still holds substantial USDC and SOL reserves, but the large cash outs and token sell-off have stoked fears of increased sell pressure. Traders should watch USDC outflows, SOL price volatility and memecoin liquidity for insights into short-term market stability and Solana ecosystem confidence.
Bearish
In the short term, Pump.fun’s $436M USDC transfers and $757M SOL sell-off create immediate sell pressure on SOL and memecoins, heightening volatility and bearish sentiment. The significant revenue decline—from $137M to $39.22M—indicates waning memecoin demand, which may further weigh on market stability. Over the long term, persistent de-risking by major platforms could undermine confidence in the Solana ecosystem, prolonging bearish pressure unless trading activity recovers.