PumpFund Transfers 81,712 SOL to Kraken... Solana Faces Burden Amid Memecoin Slowdown

PumpFund transferred 81,712 SOL to Kraken on June 18, valued at approximately $6.15 million. The move is interpreted as part of a broader trend of cashing out amid memecoin market slowdowns and weakening Solana Network revenue. Analyst EmberCN estimated PumpFund sold around 481,000 SOL since January 2024, totaling roughly $812 million at an average price of $168.70. This transfer is presented as part of a recurring pattern of sending SOL to Kraken for liquidity. PumpFund, launched in January 2024, has generated over $10 billion in revenue, with $6.64 billion in 2025 and $1.247 billion in Q1 2026. However, EmberCN's metrics differ from DiPaima's, as the former tracks actual SOL sales while the latter aggregates protocol fees. Solana Network indicators also show declining performance, with daily revenue dropping from ~$4.8 million to ~$800,000 and three-month activity falling 80%. Only 0.26% of newly issued tokens reached exchange-level market caps.