PUMP Core Treasury Transfers 11.2 Billion Tokens to Kraken, Sparks Market Buzz

Major Fund Transfer Sparks Market Speculation

According to on-chain analyst Embers, on February 26, a wallet associated with the PUMP core treasury transferred 11.2 billion PUMP tokens, worth approximately $21.22 million, to the Kraken exchange. This accounts for 1.12% of the total PUMP supply.

Historical Fund Background

Notably, this wallet had previously received 20 billion PUMP tokens in July last year, equivalent to 2% of the total supply at the time. This historical activity suggests it may be linked to early core fund management of the PUMP project.

Market Impact Assessment

• The transfer could signal potential selling pressure in the market.
• Investors should monitor PUMP trading activity on the Kraken platform closely.
• On-chain movements may influence short-term price trends.

Market observers recommend paying close attention to further fund flows to anticipate possible developments.