PUMP massive transfer to Kraken, the story behind the 55% token depegging

ForkMonger · 2025-12-28T01:20:09+00:00

Pump.fun recently transferred 50 million USDC to Kraken, with a total transfer amount reaching 605 million USDC, drawing attention. Since the ICO price of $0.004 in June, the PUMP price has dropped over 55%, reflecting a significant change in market sentiment towards the project.

ForkMonger

2025-12-28 01:20:09

Abstract generation in progress

【Crypto World】Interesting on-chain monitoring data has recently emerged. Pump.fun has taken action again—10 hours ago, transferred 50 million USDC to Kraken. This money comes from their June ICO sale.

Actually, starting from mid-November, over the past month, Pump.fun has been gradually transferring a total of 605 million USDC from their ICO proceeds to Kraken. The high frequency of transfers is indeed noteworthy.

What’s even more heartbreaking is PUMP’s price performance. The ICO sale price in June was only $0.004, and now it has dropped by over 55%. The difference between institutional pricing and the current breakdown reflects the market’s changing attitude towards this project. Large transfers to exchanges combined with price movements are signals worth paying attention to.

PUMP1,72%

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MetaLord420

· 14h ago

605 million USDC dumped on exchanges, and the price still dropped 55%. This move is truly brilliant. PUMP this thing, a textbook example of cutting leeks. Liquidity dried up, big players are fleeing, small investors are taking the bait—old tricks. Wait, is this really from ICO proceeds? Why do I feel like it's liquidation? Honestly, when I see such large transfers combined with a breakdown in price, I should run. What are you still waiting for?

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CryptoNomics

· 14h ago

lol the math here is actually brutal... $605m out to exchanges while price craters 55% below ico? that's not exactly screaming confidence in their own token ngl

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WealthCoffee

· 14h ago

This wave of transfers is a bit like dumping the market Ridiculous, only half a year has passed and it has already dropped 55%, unable to hold the ICO price Another promising project has died on the exchange's chopping block 疯狂砸盘给交易所，还想稳价？做梦呢 This is the common script for Web3 project teams

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OffchainOracle

· 14h ago

Hmm... This move is indeed interesting, with both ICO and breaking the price floor. The tactics are so old-fashioned. Blaming others again? A 55% drop and still transferring money to exchanges—that's the same old trick. Falling so much in 6 months shows that the initial ICO price was set ridiculously high. But on the other hand, with on-chain monitoring so sensitive, there are still people following the trend and buying?

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TokenomicsTinfoilHat

· 14h ago

This move is truly brilliant—dumping the price while crazily transferring funds to exchanges. No wonder it's breaking below the offering price. It's the classic ICO scam routine, just waiting for retail investors to take the bait. A 55% drop and still daring to transfer funds to the exchange—are they trying to tell retail investors to run? I just want to know who still dares to take this position. Truly courageous. Large funds are frantically cashing out; the on-chain data is all there. Can't some people see it?

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