$SOL was trading near $121 on Sept. 27, according to CoinGecko market data, up roughly 1% over 24 hours and 11.6% over seven days.
Pump fun(@Pumpfun) sold another 47,994 $SOL ($5.83M) 2 hours ago.
In total, https://t.co/TcwYRTArT2 has sold 5,236,623 $SOL ($848M) at an average price of $162.https://t.co/kyztoJLCjt pic.twitter.com/uIuBPIMuuI
— Lookonchain (@lookonchain) September 27, 2026
Pump.fun $SOL transfers to Kraken continue long-running pattern
Pump.fun has periodically moved large batches of $SOL generated through its platform to Kraken, with on-chain analysts tracking the transactions since 2024.
In May, Lookonchain reported that the platform had sold around 4.47 million $SOL for approximately $780 million at an average price near $175. The tracker said 4.20 million $SOL had been deposited into Kraken, while 264,373 $SOL had been sold directly on-chain for about $41.6 million in $USDC.
As crypto.news previously reported on Pump.fun’s $SOL activity, the May activity included another 100,628 $SOL valued at $8.32 million. The report separated tokens deposited into Kraken from the smaller amount visibly exchanged on-chain.
A similar pattern appeared in June 2025. Pump.fun transferred 132,180 $SOL worth around $20.87 million to Kraken, pushing cumulative exchange deposits at the time to more than 2.47 million $SOL for that year.
Pump.fun deposits to Kraken had crossed $660 million by June 2025 when earlier transfers were included. The available blockchain data did not establish that every deposit represented an immediate market sale.
Another February 2025 transaction involved 65,122 $SOL worth approximately $11 million. In related coverage, crypto.news tracked Pump.fun’s earlier Kraken transfers as Lookonchain estimated cumulative deposits near 2.35 million $SOL.
The Sept. 27 estimate of 5.236 million $SOL therefore combines a longer series of treasury movements that Lookonchain categorizes as sales. The total value of $848 million represents the analytics firm’s cumulative calculation rather than a financial figure disclosed directly by Pump.fun.
Solana trades above $120 after the latest transfer
$SOL remained above $120 after the latest Kraken transfer, showing no immediate sharp market reaction tied solely to the transaction.
CoinGecko data placed Solana near $121.38, with roughly $2.83 billion in 24-hour trading volume and a market capitalization above $71 billion. The token had gained about 11.6% during the previous seven days.
Earlier in September, $SOL had traded closer to $100. Crypto.news reported on Solana’s recovery from the $98 area as traders watched resistance between roughly $103 and $106.
By Sept. 18, $SOL had risen above $105. In another market update, Solana was testing its upper Bollinger Band as price momentum improved.
No evidence currently links Pump.fun’s Sept. 27 Kraken transfer to a measurable drop in $SOL. The transaction represents less than $6 million against Solana’s multibillion-dollar daily spot volume.
Pump.fun continues $PUMP buybacks while moving $SOL
Pump.fun’s treasury activity now operates alongside an established $PUMP token buyback and burn program.
The platform’s official $PUMP dashboard showed approximately $463.5 million had been used to purchase and burn 167.91 billion $PUMP tokens as of Sept. 25. Pump.fun reported annualized protocol revenue of about $504 million based on its 90-day average.
Its current framework allocates around 50% of platform revenue toward $PUMP purchases and burns. On Sept. 25 alone, the platform spent approximately 7,100 $SOL, worth $838,200, to purchase 208.9 million $PUMP.
One day earlier, Pump.fun used roughly 7,200 $SOL worth $832,400 to buy 211.8 million $PUMP. Daily buybacks during Sept. 16-25 generally involved between about 6,800 and 8,700 $SOL.
Pump.fun’s recurring $PUMP buybacks after another large purchase used more than 8,300 $SOL to acquire hundreds of millions of $PUMP tokens.
Pump.fun states on its dashboard that purchased tokens are permanently burned. The platform said 16.79% of the original one trillion $PUMP supply had been removed through the program by Sept. 25.
The company cautions that past purchases should not be treated as a commitment to future discretionary activity beyond amounts covered by its programmed allocation.
Kraken deposits do not confirm an executed sale
Exchange deposits are often monitored because they can make assets available for trading, but the blockchain transaction ends when the tokens reach an exchange-controlled address.
Kraken does not publicly disclose how individual Pump.fun deposits are subsequently handled. Transactions executed within a centralized exchange generally occur on internal ledgers and cannot be reconstructed directly from the original Solana transfer.
Earlier Pump.fun reporting shows why the distinction matters. Lookonchain separately tracked millions of $SOL sent to Kraken and 264,373 $SOL visibly sold on-chain for $41.64 million in $USDC.
Another crypto.news report covered a $22 million Pump.fun $SOL transfer to Kraken and noted the project’s recurring treasury-processing pattern.
Lookonchain currently estimates cumulative activity at 5,236,623 $SOL worth $848 million and an average price near $162. Its Sept. 27 update categorizes the fresh 47,994 $SOL movement as another sale.
