Pump.fun Has Sold $888 Million in SOL and Keeps Selling

Pump.fun has sold nearly $888 million worth of SOL, and on-chain records show no sign the selling is stopping. The Solana-based memecoin launchpad offloaded 5.62 million SOL at an average price of $158, according to the on-chain data underpinning the tally. At Saturday's price near $75.76, that same stack would fetch about $426 million. The platform locked in more than twice today's value.

The timing looks sharp in hindsight. SOL traded near $75.76 early Saturday after dipping to roughly $74.85. That marks a 16% decline over seven days, 26% over 30 days, and a 74% drop from its all-time high of $293.31 in January 2025.

Solana has had a busy stretch regardless. Bitcoin.com News reported that DTCC plans to bring tokenized securities to Solana. Separately, China's central bank opened a probe into Solana over illegal crypto services. Neither development stopped the slide.

What are the PUMP unlocks doing?

Pump.fun's own token is under pressure too. On-chain analyst EmberCN reported that three wallets tied to the platform's team or early investors moved 1.458 billion newly unlocked PUMP — worth about $5.01 million — to Coinbase Prime, Coinbase's institutional trading venue.

Those three wallets hold a combined allocation of 70 billion PUMP that began unlocking in July. The same wallets made an identical monthly transfer of 1.458 billion PUMP to Coinbase Prime on Oct. 13, when the haul was worth about $7.58 million.

The month-over-month drop in dollar value tells the story. PUMP trades near $0.0034, down about 61% from its September 2025 peak. Exchange and prime-broker deposits are usually read as preparation to sell, and back-to-back monthly transfers of unlocked supply add to the token's overhang.

Why does the market backdrop matter?

The deposits land during one of the market's roughest stretches. More than $330 million in liquidations hit in under two hours. Bitcoin fell below $67,000 while SOL lost the $75 level. Memecoin activity — the engine behind Pump.fun's fee revenue — has cooled alongside the broader market.

So what does this change for SOL holders? Mostly, it defines the immediate battleground. Pump.fun has sold through rallies and sell-offs alike, so traders shouldn't expect a pause. The practical question is whether the $75 area holds as support, or whether steady selling from the network's biggest application keeps pressing the price lower.

Much now depends on whether buyers absorb the supply. The next monthly unlock transfer — following the July-established schedule and the October precedent — will signal whether the team's pace of deposits, and the implied sell pressure, continues into month three.