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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid rising sell-side pressure on major altcoins, the meme coin creation platform Pump.fun is persisting with its strategy of liquidating accumulated fee revenue. According to reports, the platform executed a transfer of an additional 100,000 SOL tokens to the Kraken exchange for the purpose of liquidation. This latest move brings the total amount cashed out by the platform to $780 million to date, highlighting a significant outflow of capital from the network's ecosystem.
These liquidations occur as Solana faces stiff competition from networks like Ethereum and Base in capturing meme coin liquidity. Compared to the previous quarter, market data indicates that the pace of fee realization by major decentralized applications has accelerated as entities seek to lock in profits during market volatility. Per market data, Solana remains under scrutiny as traders monitor exchange inflows to gauge the impact of these institutional-scale sell orders on price stability.
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Sign InThe price of SOL stood at $168.45 (at close May 28, 2026), as the market tests its capacity to absorb ongoing supply overhead. Investors are looking ahead to the economic calendar, specifically the Consumer Confidence data from South Korea scheduled for May 28, 2026, which may influence broader risk sentiment in Asian trading sessions. Traders should watch for support levels near recent weekly lows to determine if the current price floor will hold.