Pump.fun Allegedly Sells $757M SOL Amid Solana Price Crash

On-chain analytics platform Lookonchain suggests that the meme coin launchpad Pump.fun has contributed to the Solana price crash by selling significant amounts of SOL, cashing out nearly $500 million since October.

Pump.fun's Alleged Actions

Lookonchain claims Pump.fun sold 4.19 million SOL ($757 million) between May 2024 and August 2025 at an average price of $181.
Of these, 264,373 SOL was sold on-chain for $41.64 million, and 3.93 million SOL ($715.5 million) was deposited into Kraken.
Despite the launch of six Solana ETFs, SOL price dropped from around $220 in October to $120 this month.
ETFs by Bitwise, Grayscale, Fidelity, among others, recorded cumulative net inflows of $568.24 million.
SOL is down over 28% year-to-date and in the last 30 days.

Pump.fun's Response

Pump.fun denies recent SOL sales and claims misinformation regarding Lookonchain's data.
A spokesperson stated that transactions referenced are part of treasury management with funds from the PUMP ICO.

Currently, the Solana price is trading around $138, up almost 4% in the last 24 hours according to CoinMarketCap.

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