The Solana (SOL) cost increased by almost 10% in the last 7 days, going beyond US$ 200 (AU$ 321) after a US$ 55M (AU$ 88M) transfer from Pump.fun’s charge account to Kraken.
The cost rise accompanied 2 considerable transfers from Pump.fun’s charge account, in which it initially transferred US$ 22.8 M (AU$ 36M) worth of SOL, followed by a 2nd transfer of US$ 32.7 M (AU$ 52M) simply one hour later on, according to Solscan information.
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This is not the very first time that Pump.fun puts pressure on the SOL rate. The platform transferred over US$ 303M (AU$ 487.6 M) worth of SOL to Kraken in 2024 and offered more than US$ 41M (AU$ 65.9 M) worth of the possession to date, as reported by Lookonchain.
Solana’s current rate rise highlights the effect of big deals and trading activity on its market efficiency, with the most recent transfers functioning as a possible driver for the boost.
Information from CoinMarketCap reveals SOL is presently priced at US$ 207.35 (AU$ 332), a 12.6% reduction in the last 30 months however a 9.5% boost in the weekly chart.
Solana’s regular monthly cost, source: CoinMarketCap Solana, Bitcoin Rebound
Solana, Bitcoin is likewise rising today together with a number of memecoins.
Bitcoin broke above US$ 97,000 (AU$ 156,122) for the very first time in over a week, up 3.5% on the day. The marketplace leader had actually set an all-time high above US$ 108,000 (AU$ 173,824) in December however dipped listed below AU$ 92,000 (AU$ 148,073) on December 30 before its current rebound, which likely sustained more comprehensive market gains.
Dogecoin likewise climbed up 7%, reaching US$ 0.34 (AU$ 0.54), a weekly high. The leading meme coin had actually formerly struck a three-year high in December however dropped listed below US$ 0.27 (AU$ 0.43) throughout a more comprehensive market selloff on December 20.
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Amongst memecoins, Fartcoin (FARTCOIN) saw the most considerable gains, surging 47% to US$ 1.40 (AU$ 2.25) and briefly reaching a brand-new all-time high of US$ 1.45 (AU$ 2.33) previously in the day.
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