Pump.fun Sells 86K SOL for $16.28M USDC

Published: 2025-08-13 00:32:57 |

Crypto platform pump.fun has executed its first SOL sale, offloading 86,000 SOL in exchange for 16.28 million USDC. The SOL was moved from the platform’s fee and buyback wallets to the Kraken exchange. On-chain sales were completed at an average price of $189 per token. The proceeds in USDC were then transferred back to Kraken. This SOL sale marks pump.fun’s initial conversion of SOL holdings into stablecoins, highlighting a possible shift in market strategy.

Neutral

While the sale of 86,000 SOL by pump.fun could exert short-term downward pressure on SOL prices, the amount is modest relative to the token’s circulating supply. Similar large wallet sales in the past have caused temporary price dips but were quickly absorbed by the market. Converting SOL into USDC suggests a cautious stance, potentially indicating risk management rather than bearish sentiment. Overall, the impact is likely neutral, with limited influence on long-term market stability.