Pump.fun has completed its first sale of 86,000 SOL Tokens, raising 16.28 million USD in just 5 hours.
The trading process shows that SOL was transferred from fee and buyback wallets to the Kraken exchange, where Tokens were withdrawn and sold directly on-chain at an average price of 189 USD per Token.
MAIN CONTENT
Pump.fun sold 86,000 SOL Tokens for the first time, raising 16.28 million USD.
SOL Tokens were transferred from fee and buyback wallets to Kraken for trading.
The sale of SOL was conducted on-chain at an average price of 189 USD/SOL.
How was Pump.fun's first SOL sale conducted?
Pump.fun's first sale of 86,000 SOL Tokens was fully completed within 5 hours. The total revenue reached 16.28 million USD based on Ember's report on August 13.
This process was carried out when SOL Tokens were transferred from the wallets for fees and buybacks to Kraken, the largest centralized exchange. Here, Tokens are withdrawn and sold directly on-chain to ensure transparency and trading efficiency.
Choosing Kraken demonstrates an optimal strategy for liquidity and the stability of the SOL trading market during this period.
What does the average selling price of 189 USD/SOL Token mean?
The average selling price of 189 USD/SOL Token was determined in on-chain transactions occurring on Kraken. This price reflects market conditions at the time liquidity was released.
This price level helps accurately quantify the scale of value that Pump.fun obtained from the sale. At the same time, direct on-chain trading ensures transparency, which can be clearly verified through blockchain activities.
"On-chain trading with stable prices facilitates wallets for fees and buybacks to optimize cash flow effectively and safely."
Cryptocurrency financial expert, August 13, 2024
Why did Pump.fun choose to transfer Tokens through fee and buyback wallets before trading?
The transfer of SOL Tokens from fee and buyback wallets to the Kraken exchange allows the organization to easily manage funds and concentrate liquidity. This is an intermediary step to control the amount of Tokens released into the market.
This process also optimizes security and allocates financial resources, ensuring that Token sales occur with high efficiency and the lowest risks.
Frequently Asked Questions
1. How long did Pump.fun's SOL sale take?
Pump.fun's first SOL sale was completed in 5 hours, with a total of 86,000 Tokens.
2. What is the total revenue from the SOL sale?
The total revenue reached 16.28 million USD from the number of Tokens sold.
3. Which exchange is SOL traded on?
SOL Tokens are transferred and sold on the Kraken exchange through on-chain transactions.
4. What is the average selling price per SOL Token?
The average price per SOL Token in this sale was 189 USD.
5. Why do transactions occur on-chain?
On-chain trading ensures transparency and makes it easy to verify transactions on the blockchain.
Source: https://tintucbitcoin.com/pump-fun-ban-86-000-sol-thu-16-trieu/
Thank you for reading this article!
Please Like, Comment and Follow TinTucBitcoin to always stay updated with the latest news about the cryptocurrency market and not miss any important information!
