Pump.fun’s Cumulative Solana Sales Near $890 Million
Pump.fun, a Solana-based memecoin issuance platform, has sold more than $720 million worth of Solana on a cumulative basis, according to on-chain data.Data from on-chain analytics platforms Lookonchain and Onchain Lens on Nov. 14 showed that Pump.fun deposited 64,666 Solana, worth about $5.19 million, into global cryptocurrency exchange Kraken over Nov. 13-14.Pump.fun has monetized by collecting fees in Solana from users’ memecoin issuance and trading activity, then transferring the tokens to exchanges for sale.According to blockchain analytics firm Arkham, Pump.fun has sold a total of 5,618,499 Solana to date, worth about $887.6 million. Its average selling price was $158.