Pump.fun Moves $50M to Kraken as Q4 Cashouts Approach $615M

Published: 2025-12-28 19:05:02 |

Pump.fun has continued large-scale treasury movements, sending another $50 million USDC to Kraken in late December 2025. On-chain intelligence from Arkham and confirmations from Lookonchain show the platform deposited a total of $617.5 million USDC into Kraken since October 15, 2025. Between May 19, 2024 and August 12, 2025, Pump.fun sold 4.19 million SOL (~$757 million) — 264,373 SOL ($41.6M) sold on-chain and 3.93M SOL (~$715.5M) deposited to Kraken. During the same Oct–Dec window, roughly $1.1 billion USDC moved from Kraken to Circle. On-chain dashboards estimate Pump.fun controls about $1.84 billion in assets (≈$617M in USDC/USDT and >$210M in SOL). The platform’s USDC transfers typically range $25M–$50M and resumed at scale after a quiet period in November. PUMP token trades near $0.0018, down ~55% from its June ICO price; technical indicators show price compression with MACD negative and RSI ~42. For traders: monitor Kraken and Circle inflows/outflows and Arkham/Lookonchain feeds — these scheduled conversions increase stablecoin liquidity on exchanges and can exert downward pressure on SOL and PUMP during large sell or deposit events.

Bearish

Large, repeated transfers of SOL-to-exchange and USDC deposits to Kraken increase exchange liquidity and create potential selling pressure. Pump.fun’s structured deposits (typically $25M–$50M) and prior sales of 4.19M SOL (~$757M) show an organized liquidation strategy that can weigh on SOL supply and PUMP token price. Historical precedence: sizable exchange deposits by large holders (whales/treasury managers) often precede sell-side pressure and short-term price declines — for example, past coordinated or phased liquidations on major exchanges have depressed token prices until exchange balances normalize or funds are withdrawn. Short-term impact: elevated downside risk for SOL and PUMP as markets absorb increased stablecoin-backed sell capacity on Kraken. Mid-to-long-term: if Pump.fun continues scheduled conversions but spreads them out, market impact may moderate; however persistent offloading without buy-side absorption could prolong weaker price structure. Traders should watch exchange reserves, Kraken→Circle flows, on-chain transfer pacing, and PUMP orderbook depth to time entries or hedges.