11.2 Billion PUMP Tokens Transferred to Kraken, Sparking Market Interest

Analysis: Large-Scale Transfer of PUMP Tokens

On-chain data reveals a major movement of 11.2 billion PUMP tokens, worth approximately $21.22 million, transferred from a wallet linked to the core treasury to the cryptocurrency exchange Kraken within the past hour. This accounts for 1.12% of the total token supply.

Historically, this wallet received 20 billion PUMP tokens back in July last year, representing 2% of the total supply at the time.

• Significant Volume: The transfer represents 1.12% of total PUMP supply.
• Background: Funds originated last July, signaling early-stage liquidity movement.
• Exchange Impact: Kraken's involvement may affect market dynamics.

Whether this transfer signals strategic treasury adjustments or pre-market activity remains to be seen.