🚨Pump has sold again!
According to on-chain data, Pump has transferred another 67,000 SOL to Kraken in the past 30 minutes, valued at approximately $4.51 million.
What’s even more noteworthy:
📌 Since the start of 2024, Pump has sold around 4.61 million SOL.
📌 The total cash-out amount has reached a staggering $795 million.
📌 The average selling price is about $172 per SOL.
If Pump continues to offload nearly $800 million worth of SOL while the Solana ecosystem remains active, the SOL price continues to oscillate at high levels.
What does this indicate?
① Market absorption capacity is far greater than in the last cycle.
② Real on-chain demand is absorbing the sell pressure.
③ Institutional funds may be continuously picking up the slack.
History teaches us:
The real top isn’t typically when the project team sells their tokens, but rather when there’s no one left to buy.
When massive sell pressure can be absorbed, it actually indicates that market liquidity is still robust.
Next, we need to keep an eye on:
🔍 Whether Pump continues transferring to exchanges 🔍 If SOL's on-chain activity declines 🔍 If ETF and institutional funds keep flowing in
#MichaelSaylor暗示增持BTC
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