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Following
SOL The latest sale pushed the cumulative total to exceed US$807 million.
According to data from online analysis platform Lookonchain, on August 7, Pumpfun sold 84,789 SOL units again, worth approximately US$6.25 million. The deal is the latest in a long series of sell-offs on the platform that has attracted close attention from the Solana community and market observers.
This sale brought the cumulative number of SOLs cleared by Pumpfun to 4.82 million, with a total value of approximately US$807 million. The average realized price for all sales was $167.40 per SOL.
The sales model has become quite fixed: most of the funds are transferred through the cryptocurrency exchange Kraken, and a smaller portion is sold directly on the chain. The platform systematically converts agreement fees into cash rather than holding SOL, creating a stable source of seller supply in the market.
As the activity of Meme coins cools down, selling pressure continues to increase.
Pumpfun was once the Meme coin launch platform that promoted Solana's ecosystem, but now it has become a drag on the entire network. Against the backdrop of slowing Memecoin trading that has shrunk agreement revenue, the project appears to be raising money through the sale of SOL.
DefiLlama data shows that Pumpfun's daily expense revenue has dropped significantly compared with the beginning of the year. The background of declining revenue explains the continued liquidation. The continued conversion of fee revenue has brought greater attention to one of the most profitable businesses in the Solana ecosystem and revived debate over whether Memecoin activity, once the main engine of network growth, is now becoming a recurring source of seller pressure.
The key question for the rest of the year is whether Solana's network growth can offset selling pressure and support a recovery in SOL prices.
