- Solana (SOL) surpassed US$200 after Pump.fun transferred US$55M to Kraken in two massive transactions.
- In 2024, Pump.fun deposited over US$300M price of SOL to Kraken and bought greater than US$41M
The Solana (SOL) value elevated by practically 10% within the final seven days, surpassing US$200 (AU$321) after a US$55M (AU$88M) switch from Pump.fun’s charge account to Kraken.
The value surge coincided with two substantial transfers from Pump.fun’s charge account, through which it first deposited US$22.8M (AU$36M) price of SOL, adopted by a second switch of US$32.7M (AU$52M) only one hour later, in accordance to Solscan information.
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This isn’t the primary time that Pump.fun places strain on the SOL value. The platform deposited over US$303M (AU$487.6M) price of SOL to Kraken in 2024 and bought greater than US$41M (AU$65.9M) price of the asset to date, as reported by Lookonchain.
Solana’s latest value surge highlights the influence of enormous transactions and buying and selling exercise on its market efficiency, with the most recent transfers serving as a possible catalyst for the rise.
Information from CoinMarketCap exhibits SOL is at present priced at US$207.35 (AU$332), a 12.6% lower within the final 30 months however a 9.5% enhance within the weekly chart.
Solana, Bitcoin Rebound
In addition to Solana, Bitcoin can also be surging at the moment alongside a number of memecoins.
Bitcoin broke above US$97,000 (AU$156,122) for the primary time in over every week, up 3.5% on the day. The market chief had set an all-time excessive above US$108,000 (AU$173,824) in December however dipped under AU$92,000 (AU$148,073) on December 30 earlier than its latest rebound, which seemingly fueled broader market beneficial properties.
Dogecoin additionally climbed 7%, reaching US$0.34 (AU$0.54), a weekly excessive. The main meme coin had beforehand hit a three-year excessive in December however dropped under US$0.27 (AU$0.43) throughout a broader market selloff on December 20.
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Amongst memecoins, Fartcoin (FARTCOIN) noticed essentially the most vital beneficial properties, spiking 47% to US$1.40 (AU$2.25) and briefly reaching a brand new all-time excessive of US$1.45 (AU$2.33) earlier within the day.
