According to Lookonchain on Twitter, Pumpfun deposited 132,180 SOL, valued at $20.87 million, to Kraken within the last two hours. In total, Pumpfun has moved 3.62 million SOL (worth $660.5 million) to Kraken at an average price of $182, and has already sold 264,373 SOL for $41.64 million USDC at $158. These significant on-chain SOL transfers and large-scale sales are likely to increase selling pressure on Solana, potentially impacting short-term SOL price volatility and liquidity on both centralized and decentralized exchanges. Traders should closely monitor further SOL movements and exchange inflows, as such large deposits historically correlate with short-term price corrections. Source: Lookonchain (@lookonchain) via Twitter and Solscan.

According to Lookonchain, a significant Solana whale deposited 49,858 SOL worth $8.46 million to Kraken, incurring a realized loss of $3.11 million compared to their original entry. Six months earlier, this whale withdrew 48,185 SOL ($11.58M) from Kraken at $240 each and staked the assets, earning 1,673 SOL ($286K) in staking rewards. Despite the staking yield, the whale's overall position suffered due to the recent price drop. This large-scale deposit to an exchange signals potential selling pressure, which could trigger short-term volatility or downward movement in SOL prices. Traders should monitor Kraken order books and overall exchange inflows, as whale movements often precede market reactions. The event underlines the risks and timing considerations in SOL staking and the broader Solana ecosystem. (Source: Lookonchain on Twitter, May 16, 2025)