😲💲 Pumpfun bids farewell to millions of SOL as Solana's price rises
Lookonchain reports that Pumpfun has already sent a total of 3,202,498 SOL, about 591 million dollars, to Kraken, with an average price of 185 dollars per token. In addition to these deposits, Pumpfun also sold 264,373 SOL for about 41.64 million dollars in USDC, at 158 dollars per token.
😲 Meanwhile, three new wallets raised 145,000 SOL (about 21.8 million dollars) from Kraken. These wallets were created recently and executed these transactions within an hour, which may indicate coordinated purchases. Cryptocurrency analyst Gerlaenco notes that Solana's price has risen more than 50% since the last drop.
He expects the price to reach 200 dollars by the end of May if the current trend continues. The next resistance is between 170 and 185 dollars, an area that previously acted as resistance during the correction from the record high of 294.44 dollars. If this level is surpassed and acts as support, the price could reach 200-220 dollars.
💡 The optimism is also fueled by expectations that an ETF for SOL will soon be approved.
Bloomberg analyst Eric Balchunas now places the probability at 90%. This attracts new investors both in the spot market and in derivatives.
