Pump.fun moves 81,700 SOL to Kraken, analyst says $6.15 million cashed out

Pump.fun transferred another 81,712 SOL to Kraken on July 18, 2026, a move on-chain analyst EmberCN valued at roughly $6.15 million and framed as part of a longer pattern of monetizing platform revenue through exchange deposits. EmberCN estimates Pump.fun has sold about 4.81 million SOL between January 2024 and July 18, 2026, worth roughly $812 million at an average price of $168.70 per token. The transfer comes as Pump.fun remains one of Solana’s most prominent fee generators from the memecoin boom, but faces a weaker operating backdrop. CoinMarketCap data cited in the report shows the platform has generated more than $1 billion in cumulative revenue since launch, including about $664 million in 2025 and roughly $124.7 million in the first quarter of 2026. DefiLlama, measuring a broader set of protocol metrics, put cumulative fees at around $1.86 billion and cumulative revenue at more than $1.2 billion as of July 18, 2026. The differing totals reflect different measurements rather than a direct contradiction: EmberCN tracks estimated SOL transferred to Kraken and likely sold, while DefiLlama tracks overall protocol fees and revenue. The slowdown is also showing up in network activity. The Block reported on June 16, 2026 that Pump.fun activity had fallen 80% over the prior three months, with average daily revenue in June dropping to about $800,000 from roughly $4.8 million six months earlier. The report also said only 0.26% of newly issued tokens reached a market capitalization high enough to list on other exchanges. The broader question is whether Pump.fun will keep selling SOL at a similar pace while protocol revenue slows and whether Solana network activity can recover as traders shift toward perpetual futures venues such as Hyperliquid.