In recent weeks, Pump.fun, the popular Solana-based platform for launching meme coins, has been consistently selling large volumes of SOL.<\/p>\n
According to the latest findings by Lookonchain, the Fee Account of Pump.fun, sold an additional 40,000 SOL, worth around $6.68 million, on October 2nd. The sale has prompted speculation about its broader market impact. Shortly after the development, SOL\u2019s price briefly faced a drawdown to $163 before climbing back up to the press time price of $166.<\/p>\n
Lookonchain revealed<\/a> that Pump.fun has generated a total revenue of 969,945 SOL so far, which is worth around $162 million. This figure comes after selling 503,343 SOL, valued at $78.7 million, at an average price of $156.4. This positioned Pump.fun as one of the most profitable protocols of the year, capitalizing on the meme coin trend and leveraging Solana\u2019s ecosystem to drive significant revenue through its fee structure.<\/p>\n Since its launch in January, Pump.fun has generated<\/a> over 2.5 million Solana tokens. In the process, the platform has managed to amass $140 million in fees. During a recent Twitter Spaces event<\/a>, the team unveiled a trading bot and hinted at launching a token with a possible airdrop following their most successful week. They also teased<\/a> Pump Advanced, a trading terminal designed to compete with popular tools like Photon and Bull X.<\/p>\n Weighing on the upcoming token launch and a potential airdrop, Sapijiju, one of the project\u2019s pseudonymous co-founders, said,<\/p>\n \u201cWe are definitely planning on launching a token at some point in the future. I\u2019m not going to say when that\u2019s all to come. Our airdrop, no guarantees here, will probably be a lot more lucrative than anyone else in the space.\u201d<\/p>\n Initially, Pump.fun charged users $7 worth of SOL for token creation, but in August, they removed this fee and introduced an incentive for developers. Now, developers who create successful tokens \u2013 those that achieve a certain market cap \u2013 are rewarded with 0.5 SOL. This measure has aided in Pump.fun\u2019s explosive growth.<\/p>\n The Solana-based platform is also behind some of the most popular meme coins of the year, such as Moo Deng (MOODENG).<\/p>\n Despite its success, Pump.fun faced a major setback in May when a former employee exploited<\/a> their position to gain access to \u201cwithdraw authority,\u201d misappropriating around 12,300 SOL, approximately $1.9 million at the time. Another setback occurred when token deployment numbers dropped after competition from Tron-based SunPump, though figures have since rebounded.<\/p>\n The post Solana-Based Pump.fun Sells 40,000 SOL Worth $6.68M in Latest Transaction: Data<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" In recent weeks, Pump.fun, the popular Solana-based platform for launching meme coins, has been consistently selling large volumes of SOL. According to the latest findings by Lookonchain, the Fee Account of Pump.fun, sold an additional 40,000 SOL, worth around $6.68 million, on October 2nd. The sale has prompted speculation about its broader market impact. Shortly […]<\/p>\n","protected":false},"author":0,"featured_media":15690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15689"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15689"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/15690"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Pump.fun\u2019s Dual Struggle: Insider Exploit; Tron-Based Threat<\/h2>\n