Pumpfun Sends $20.87M SOL to Kraken; $1B ICO on Horizon

- Pump.fun's $20.87 million SOL deposit to Kraken. - Binance to list $PUMP token on June 13, 2025. On June 10, 2025, Cryptopolitan, CoinNess, and Crypto News reported that Pump.fun deposited approximately 132,180 SOL into the Kraken exchange. According to these reports, this sum is valued at around $20.87 million and contributes to a larger trend. So far in 2025, these sources state Pump.fun has deposited a total of 2,476,697 SOL to Kraken, valued at about $404.64 million. The reports also indicate the platform’s all-time deposits to Kraken have now reached 3.62 million SOL, worth approximately $660.5 million. The same June 10 reports detailed that Pump.fun continues to liquidate its Solana reserves, and this activity coincides with the platform's plan for an Initial Coin Offering (ICO). Through this ICO, Pump.fun aims to raise $1 billion, which could potentially value the project at $4 billion. Additionally, the reports mentioned that Binance will list Pump.fun's native token, $PUMP, on June 13, 2025. On the same day, Binance will also introduce USD-margined PUMPBTCUSDT perpetual contracts with up to 50x leverage. According to these June 10 reports, Pump.fun generates significant fees and serves as a major platform for launching new tokens, handling around 30,000 daily token launches. However, the success rate of meme tokens originating from Pump.fun has declined. By June 2025, the graduation rate of Pump.fun tokens to decentralized exchanges (DEXs) neared historical lows, with only 0.81% of new meme tokens moving to DEX trading. Reports from early June 2025 noted that cult tokens from Pump.fun have a substantial cumulative market cap (around $4.27 billion, led by tokens like FARTCOIN). Despite this, new successful cult tokens emerge less frequently. Reportedly, only a small percentage of traders on the platform make significant profits, as most traders serve as exit liquidity. Furthermore, observers have noted increased bot activity and rapid shifts in meme themes, and they also express concerns that a native Pump.fun token could draw liquidity away from existing meme tokens. On June 10, at 23:29 UTC, Solana (SOL) traded at $164.492. Its 24-hour trading volume increased by 2.827%. At the same time, Fartcoin (FARTCOIN) traded at $1.36, and its 24-hour trading volume increased by 13.764%.