Pump.fun moves $6.85m in SOL to Kraken as traders back Robinhood

Pump.fun has transferred 76,111 SOL worth approximately $6.85 million to Kraken after a reported 15-day pause, as traders have criticized its fee model and pointed to Robinhood as a potential challenger. Lookonchain tracked 76,111 SOL entering Kraken through several transfers linked to Pump.fun fee accounts. The tracker estimated cumulative SOL sales at $882.4 million, averaging $158.88 per token. Traders j and kioto backed Robinhood as a potential competitor to Pump.fun. Community proposals included changes to token launches, liquidity, rewards, and platform incentives. Lookonchain identified the deposits in a Nov. 6 update, sharing an Arkham transaction view showing multiple Pump.fun fee accounts sending SOL to a wallet labeled as a Kraken deposit address. Its accompanying figures put the platform’s cumulative sales at 5,553,833 SOL.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to crypto.news.