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pump.fun Transfers 86,000 SOL to Kraken in First Post-Issuance Sale

According to PANews on August 13, pump.fun conducted its inaugural SOL sale, transferring tokens from fee and buyback wallets to Kraken and generating $16.28 million in USDC.

SOL
USDC

Summary

PANews reported on August 13, based on Ember's account, that pump.fun held its first sale of 86,000 SOL tokens. The tokens were moved from fee and buyback wallets to Kraken, where they were withdrawn and sold on-chain at an average price of $189, generating $16.28 million in USDC, which was subsequently transferred back to Kraken.

Terms & Concepts
  • SOL: SOL is the native cryptocurrency of the Solana blockchain, used for transactions and network operations.
  • On-chain Transaction: Transactions recorded directly on the blockchain, ensuring transparency and immutability in digital asset transfers.
  • USDC: A stablecoin pegged to the US Dollar, widely used in digital asset transactions for stability.