Data reveals Pumpfun headquartered in Solana sells 40000 SOL in latest transaction worth 668 million

Coin World News Report:
Recently, Pump.fun, a popular meme coin platform based on Solana, has been selling a large amount of SOL in the past few weeks.
According to the latest survey by Lookonchain, Pump.fun’s fee account sold 40,000 SOL, worth about $6.68 million, on October 2nd. This sale has sparked speculation about its wider market impact. Shortly after the development, the price of SOL dropped to $163 and then rebounded to $166 at the time of the news release.
Pump.fun’s $6.68 million in sales
Lookonchain
reveals
So far, Pump.fun has generated a total revenue of 969,945 SOL, worth about $162 million. This figure is derived from the sale of 503,343 SOL at an average price of $156.4, worth $78.7 million. This makes Pump.fun one of the most profitable protocols this year, leveraging the meme coin trend and generating substantial income through its fee structure within the Solana ecosystem.
Since its launch in January, Pump.fun has
generated
over 2.5 million Solana tokens. In the process, the platform has successfully accumulated $140 million in fees. In a recent Twitter Spaces
event
, the team introduced a trading bot and hinted at the possible airdrop of a token after their most successful week. They also
teased
Pump Advanced, a trading terminal aimed at competing with popular tools like Photon and Bull X.
When weighing the upcoming token launch and potential airdrop, one of the anonymous co-founders of the project, Sapijiju, said, “We definitely plan to launch a token at some point. I won’t say when exactly. Our airdrop, there’s no guarantee here, could be more profitable than anyone else in this space.”
Pump.fun’s dual struggle: insider exploitation; threat from Tron-based platforms
Initially, Pump.fun charged users $7 worth of SOL for token creation, but in August, they waived this fee and introduced incentives for developers. Now, developers who successfully create tokens – those that achieve a certain market value – will receive a reward of 0.5 SOL. This measure has contributed to Pump.fun’s explosive growth.
The Solana-based platform is also the driving force behind some of this year’s most popular meme coins, such as Moo Deng (MOODENG).
Despite its success, Pump.fun faced a major setback in May when a former employee
exploited
their “withdrawal rights” and misappropriated approximately 12,300 SOL, valued at around $1.9 million at the time. Another setback occurred after competition from Tron’s SunPump, resulting in a decrease in the number of token deployments, although the numbers have since recovered.