Updated information on Pumpfun's activities in the cryptocurrency market
Pumpfun's large sell-off activity
According to sources from Lookonchain, Pumpfun's activities have attracted significant attention in the cryptocurrency investor community. Since May 19, 2024, Pumpfun's account has sold a total of nearly 4.1 million SOL. The total value of these transactions is estimated at around 741 million USD. The selling method was wave-like, with an average price of about 180 USD per SOL. These moves reflect the investor's strategy to maximize profits in the context of market volatility.
Details of Pumpfun's large transactions
In the sales, Pumpfun transferred 264,373 SOL at a price of 158 USD per Token, bringing in approximately 41.64 million USD in USDC format. This phenomenon indicates proactiveness in locking in profits while the market is favorable. At the same time, about 3.84 million SOL, worth approximately 699 million USD, was transferred to the Kraken exchange at a price of 182 USD. This data shows a sophisticated asset distribution strategy, taking advantage of good timing to optimize profits in the volatile cryptocurrency market.
The impact of Pumpfun's activities on the cryptocurrency market
Impact of large sales
Pumpfun's behavior of selling millions of SOL may significantly impact the value dynamics of SOL in the near future. When a large amount of SOL leaves wallets simultaneously, the potential for price decreases or strong volatility may occur due to supply exceeding demand. Long-term investors should pay attention to these developments to make appropriate decisions and avoid risks from market fluctuations.
Predictions for the cryptocurrency market
Based on Pumpfun's activities, experts believe that the price of SOL may continue to face downward pressure in the short term. However, after this sell-off, the market also has the potential for a positive adjustment if demand increases again. Traders need to combine analysis of technical signals and monitor news to seize appropriate investment opportunities while not missing critical support levels in the context of high volatility in the cryptocurrency market.
Source: https://tintucbitcoin.com/pump-fun-thu-hut-41-trieu-sol-tri-gia-741-trieu-usd/
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