Solana Rises Past $150 as Pumpfun Deposits Over 100K SOL to Kraken

By: cryptofrontnews|2025/05/03 13:15:01

Pumpfun has deposited a total of 3.2 million SOL to Kraken, amounting to approximately $591 million in total value.Solana price maintains its upward trend, rising from under $100 to over $150 since the breakout in early April 2025.ETF optimism continues to support investor confidence, with a 90% approval probability now projected by Bloomberg analysts.Pumpfun has transferred 105,233 SOL tokens to cryptocurrency exchange Kraken, marking its latest move in a string of on-chain deposits. The value of this transaction is approximately $15.86 million. The transfer aligns with renewed bullish sentiment around Solana as its price continues to recover and sustain levels above the $150 mark.According to Lookonchain, this recent transfer brings Pumpfun’s total SOL deposits to Kraken to 3,202,498 tokens. These deposits are currently valued at roughly $591 million. The average price of SOL at the time of these cumulative transfers stands at $185.Additional Selling Activity Observed on ChainAlongside the latest deposit, Pumpfun also conducted a sale of 264,373 SOL. This transaction converted approximately $41.64 million into USDC, with each token sold at an average of $158. Meanwhile, three new wallets reportedly withdrew a combined total of 145,000 SOL from Kraken, equal to about $21.8 million. These wallets were recently created and carried out the withdrawal within an hour, suggesting possible coordinated activity or early-stage accumulation.Solana’s current price movement continues to show bullish signs. A breakout above a falling wedge pattern, identified between January and March 2025, signaled the start of a strong upward move. Since the breakout in April, Solana has rallied from below $100 to over $150. Analysts observe the formation of a bull flag pattern, often considered a continuation signal in technical analysis.Market Indicators Reflect Growing Investor InterestDaily charts show that Solana remains in an uptrend, with higher lows and higher highs. Indicators such as the Relative Strength Index (RSI) and Money Flow Index (MFI) point upward. The RSI stands at 61.59 and the MFI at 58.06, indicating increased buying pressure without yet reaching overbought territory.Analysts now eye the $170 to $185 zone as the next key resistance. If Solana breaks through this range, it could pave the way toward $200. Notably, Bloomberg analyst Eric Balchunas has raised the probability of a spot SOL ETF approval to 90 percent, which has fueled additional investor interest.The post Solana Rises Past $150 as Pumpfun Deposits Over 100K SOL to Kraken appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

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