Pumpfun Moves $15M in SOL to Kraken as Solana Approaches $250

Pumpfun, a leading memecoin launchpad, transferred over 105,000 SOL (worth $15.86 million) to the Kraken exchange on May 2, 2025. This move happened amid rising prices for Solana, which analysts predict could reach $250. Bloomberg’s Eric Balchunas estimated a 90% probability for the approval of a SOL ETF, driving further investor interest and market momentum. The sizeable transfer may signify profit-taking or stabilization strategies, as other major wallets also withdrew large amounts of SOL following the transaction. Positive netflow and bullish ETF sentiment have increased confidence in SOL, though market participants are closely tracking further on-chain activity for shifts in trend.