Pump.fun, the Solana meme coin launchpad, sent another $22 million of Solana to Kraken earlier today. The latest outflow brings the total to more than $94 million sent by the Pump Fun Fee Account to Kraken in the last month, according to blockchain data on Solana block explorer Solscan.

The most recent outflow fueled speculation that Pump Fun is selling Solana on centralized exchanges, a move some feel could be suppressing Solana’s price. That speculation was quickly met with a reply from Pump Fun’s pseudonymous co-founder Alon, who indicated the sell claims were “spreading misinformation.” 

“Did you know that you can send assets to an exchange without intending to sell those assets?” he said on X (formerly known as Twitter) in response to popular on-chain data account Lookonchain’s claim that Pump Fun sold Solana. Lookonchain later issued a correction, clarifying it could not verify the sale of Solana. Pump Fun’s founders did not immediately respond to Decrypt<

Go to Source to See Full Article
Author: Logan Hitchcock