Pump.fun’s SOL sell-offs weigh on Solana as memecoin trade fades
Pump.fun transferred another 81,712 SOL, worth roughly $6.15 million, to crypto exchange Kraken on July 18, 2026, according to on-chain analyst EmberCN. On its own, the move is just another wallet transfer. But in the context of slowing memecoin activity and weakening Solana netw
Pump.fun transferred another 81,712 SOL, worth roughly $6.15 million, to crypto exchange Kraken on July 18, 2026, according to on-chain analyst EmberCN.
On its own, the move is just another wallet transfer. But in the context of slowing memecoin activity and weakening Solana network revenue, it offers another glimpse into how one of crypto’s biggest success stories is changing. Amidst the memecoin trend, Pump.
fun emerged as one of the most popular apps on Solana, turning over millions in fees as users created and traded tokens. As trading opportunity slows down, however, the application continues to convert part of its revenue into cash through transfers to Kraken. As estimated by EmberCN, Pump.
fun has reportedly sold approximately 4.81 million SOL tokens in the period between January 2024 and July 18, 2026. This translates to sales of around $812 million, with each token being sold at an average cost of $168.
70. Together with this milestone, Pump.fun is now reputed to be among the top players in the field of long-term SOL selling in the current walking stick.
What was sold, and how much has left The latest transaction is part of an emerging pattern, not an isolated incident. According to its X account, Pump.fun launched in January 2024, charging a trading fee of 1% for the swap of tokens.
This business strategy has proved to be highly successful in the heyday of the memecoin boom. According to CoinMarketCap, Pump.fun has generated more than $1 billion in cumulative revenue since its launch, including approximately $664 million in 2025 alone.
The platform also produced about $124.7 million in revenue during the first quarter of 2026, underscoring the success of its 1% fee-based business model despite a broader cooling of the memecoin market. Why do the numbers look different?
When examined closely, the figure put out by EmberCN is much lower than that provided by DefiLlama. This difference is due to the fact that they measure different aspects. EmberCN’s figure ($81
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