Pump.fun Cashes Out $25.7M in SOL Fees on Kraken as Solana Memecoin Surge Drives Record Revenues

Pump.fun, a prominent meme token launch and trading platform within the Solana ecosystem, has transferred 156,000 SOL (worth $25.71 million) in accumulated transaction fee revenue to centralized exchange Kraken. This outflow represents nearly three weeks of fees, emphasizing Pump.fun’s robust and consistent revenue model—charging on each meme coin launch and trade. Over the past year, the platform has deposited more than 4.025 million SOL (valued at about $727 million) to Kraken, averaging $1.3 million in transaction fees daily according to DeFiLlama. Recent on-chain trends show a continued meme token frenzy on Solana, fueling higher trading volumes, network activity, and fee generation. In May alone, Pump.fun has sold more than $38 million worth of SOL, aligning with a resurgence in protocol engagement: over 26,000 new tokens were launched there in a single 24-hour period, and daily transaction volumes surged. Despite these significant transfers and ongoing sell pressure from fee liquidations, Solana’s price remains stable, hovering around $171 after a 45% rebound in the last month. However, there are sustainability and security concerns, as a Solidus Labs report alleges that 98.6% of Pump.fun-launched tokens are scams or rug pulls. Nevertheless, platform defenders maintain that high memecoin volatility and speculation are core features. For crypto traders, Pump.fun’s systematic cash-outs to Kraken signal deliberate liquidity and profit management behavior, which can affect SOL’s circulating supply but, thus far, have not derailed price stability. The platform’s continued growth underscores both its own commercial strength and Solana’s technical prowess as a high-throughput, low-fee blockchain.