Well, well, well! Pump.fun, the Solana-based meme coin launchpad, just decided to play Santa Claus and deposited a whopping 65,122 SOL (that’s $11 million, folks!) into Kraken’s stocking. 🎅💰
According to a Feb. 20 X post by the on-chain analytics wizards at Lookonchain, this platform has now transferred a jaw-dropping 2.35 million Solana (SOL) worth $473 million to Kraken. And guess what? They sold 264,373 SOL for a cool $41.64 million USDC. Talk about a money-making machine! 💵💥
Pumpfun(@pumpdotfun) deposited 65,122 $SOL($11M) to #Kraken again 5 hours ago.
So far, #Pumpfun has deposited 2,345,499 $SOL($473M) to #Kraken and sold 264,373 $SOL for 41.64M $USDC.#Pumpfun has earned a total of 2.93M $SOL($515M).
— Lookonchain (@lookonchain) February 20, 2025
But hold your horses! Pump.fun’s daily trading volume took a nosedive, plummeting 52% from its monthly high of $243 million on Feb. 11, averaging a mere $122 million on Feb. 19. Ouch! 📉😱
This drop comes hot on the heels of the LIBRA token scandal involving Argentine President Javier Milei. His endorsement of the Solana-based token sent everyone into a frenzy, only for it to crash faster than a bad stand-up comedian. 🎤💔
Now, the critics are out in full force, claiming that Pump.fun has turned into a high-stakes gambling casino where bots and insiders are the house, and ordinary traders are just the poor saps left holding the bag. 🎰😩
Some folks are even comparing it to FTX, saying it prioritizes spectacle over sustainability and profits at the expense of market integrity. But hey, who needs integrity when you can have a wild ride, right? 🎢💸
Despite the slowdown, Pump.fun is still raking in the dough, pulling in $17 million in the last 7 days. Not too shabby for a meme coin launchpad! 💸💪
On February 15, Pump.fun launched its shiny new iOS and Android apps, hoping to boost momentum. These apps let users interact with the Solana memecoin ecosystem, complete with watchlists, portfolio management, and fast token creation. Because who doesn’t want to create tokens at lightning speed? ⚡📱
In the coming months, we’ll see if Pump.fun can handle the growing regulatory scrutiny. Will it rise to the occasion or crash and burn like a bad sitcom? Stay tuned, folks! 📺🍿
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2025-02-20 07:31