Pump.fun fee account sells $25m SOL

Pump.fun, a meme coin launch platform that allows users to easily create their own meme coins, sold another portion of the Solana tokens earned from fees.

Blockchain data tracking platform Lookonchain reported that Pump.fun sold 105,000 Solana (SOL) on November 18. tokens. As Lookonchain shared on X, the transferred tokens came from the meme factory’s fee account and totaled more than $25 million at the time.

This sell-off coincided with the altcoin price rising from $135 to around $180. Solana’s top meme coin maker, which has generated a total of SOL 1,307,966 in revenue over $315 million, has been selling coins consistently in recent months and weeks.

Pump.fun sold 43,000 SOLs worth over $9.38 million seven days ago. Over the past few weeks, the platform has transferred 352,400 SOLs worth over $71 million. This includes sales of 10,300 SOLs in September.

Overall, according to on-chain data, the SunPump competitor cashed out a total of 898,243 SOLs worth $157 million.

These sales from the wage account indicate that the team needs cash; This wallet is used not only to collect transaction fees but also to cover the operational costs of the platform.

SOL price

Pump.fun’s last SOL sale took place during a period when the price of the token rose above $200. In the past month, Solana’s price has increased by more than 50%, reaching year-to-date highs above $247. According to market data from Crypto.news, this bullish wave has brought SOL to within 8% of its all-time high of $259.

SOL has since fallen from $247.84 to $237.41, with 24-hour gains down roughly 2% and seven-day gains down around 8.6%.