CandleFocus Massive Deposit Alert: Pumpfun’s $15M USDC Transfer Raises Cash-Out Speculations
2024-11-01
Author: Content Editor
Summary:
The meme coin platform Pumpfun has made a large transfer of $15 million worth of USDC from its SOL sale to the Kraken exchange, leading to speculation that the platform may be planning to sell a significant portion of its holdings. Concerns have been raised about the impact this could have on the crypto community, particularly if the funds are converted into fiat currency. It is not yet clear whether Pumpfun intends to cash out or if the transfer was made for other business purposes. The platform still holds a substantial amount of assets, including 350,054.75 SOL and additional USDC.
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