Solana Rises Past $150 as Pumpfun Deposits Over 100K SOL to Kraken

By: cryptofrontnews|2025/05/03 05:15:01
0
Share
copy
Pumpfun has deposited a total of 3.2 million SOL to Kraken, amounting to approximately $591 million in total value.Solana price maintains its upward trend, rising from under $100 to over $150 since the breakout in early April 2025.ETF optimism continues to support investor confidence, with a 90% approval probability now projected by Bloomberg analysts.Pumpfun has transferred 105,233 SOL tokens to cryptocurrency exchange Kraken, marking its latest move in a string of on-chain deposits. The value of this transaction is approximately $15.86 million. The transfer aligns with renewed bullish sentiment around Solana as its price continues to recover and sustain levels above the $150 mark.According to Lookonchain, this recent transfer brings Pumpfun’s total SOL deposits to Kraken to 3,202,498 tokens. These deposits are currently valued at roughly $591 million. The average price of SOL at the time of these cumulative transfers stands at $185.Additional Selling Activity Observed on ChainAlongside the latest deposit, Pumpfun also conducted a sale of 264,373 SOL. This transaction converted approximately $41.64 million into USDC, with each token sold at an average of $158. Meanwhile, three new wallets reportedly withdrew a combined total of 145,000 SOL from Kraken, equal to about $21.8 million. These wallets were recently created and carried out the withdrawal within an hour, suggesting possible coordinated activity or early-stage accumulation.Solana’s current price movement continues to show bullish signs. A breakout above a falling wedge pattern, identified between January and March 2025, signaled the start of a strong upward move. Since the breakout in April, Solana has rallied from below $100 to over $150. Analysts observe the formation of a bull flag pattern, often considered a continuation signal in technical analysis.Market Indicators Reflect Growing Investor InterestDaily charts show that Solana remains in an uptrend, with higher lows and higher highs. Indicators such as the Relative Strength Index (RSI) and Money Flow Index (MFI) point upward. The RSI stands at 61.59 and the MFI at 58.06, indicating increased buying pressure without yet reaching overbought territory.Analysts now eye the $170 to $185 zone as the next key resistance. If Solana breaks through this range, it could pave the way toward $200. Notably, Bloomberg analyst Eric Balchunas has raised the probability of a spot SOL ETF approval to 90 percent, which has fueled additional investor interest.The post Solana Rises Past $150 as Pumpfun Deposits Over 100K SOL to Kraken appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

You may also like

What you bought on CEX is really not US stocks: Analyzing the 94% liquidation monopoly and the evaporation of equity under a five-layer pipeline

Peeling back its smooth trading interface to examine the underlying legal relationships and settlement processes, you will find that this is far from a simple "RWA asset revolution," but rather a complex game of interests involving spot pricing, rights ownership, and the monopoly of underlying custo...

In such a crowded cross-border payment arena, where is the next stop for the future?

Only by stepping into the mud can one have the chance to touch gold.

Why Is Bitcoin Down in 2026? What We Can Learn From 2022

Why is Bitcoin down in 2026? Bitcoin has just recorded its worst first half since 2022, with back-to-back quarterly losses, record ETF outflows, and extreme fear. Here's what history says, how 2026 differs from the last bear market, and the three signals traders should wat

The large models in the United States are moving towards closure in the name of security

The government successfully inserted itself as an approver between commercial AI models and their users for the first time.

From the white-haired stock god to the billionaire fund mogul, the smart people shorting Nvidia are all getting rich using the same framework

Give up on heavily investing in Nvidia's "nine major bottlenecks"! This article analyzes the underlying logic behind top AI investors making billions: physical infrastructure such as electricity, HBM, and optical interconnects are the true keys to wealth in AI hardware.

Morning Report | CoinEx becomes a key hub for Iran to evade sanctions, involving over $3.8 billion in funds; Kalshi seeks a new round of financing, with a valuation potentially rising to $40 billion

Overview of Important Market Events on June 25

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com