Categories: News

FTX/Alameda and Pump.Fun: SOL Redemptions, Transfers, and Impressive Revenue Generation

Three hours ago, FTX/Alameda completed its latest monthly Solana (SOL) redemption, releasing 182,421 SOL worth $32.35 million.

These tokens were unpledged and distributed across 20 different addresses.

Since November last year, FTX/Alameda’s staking address has redeemed and transferred a total of 4.445 million SOL, valued at approximately $516.88 million. The average transfer price during this period has been $116.2 per SOL. Currently, the staking address still holds 6.47 million SOL, valued at $1.18 billion, in active staking.

Pump.Fun: Strategic Sales of Accumulated Fees

Pump.Fun has continued its strategy of selling SOL after accumulating transaction fees. In the past six days, the platform saved 122,600 SOL in fees, valued at $21.65 million, which were transferred to Kraken six hours ago.

Related Post

Since its launch nearly a year ago, Pump.Fun has earned a staggering 2.24 million SOL in transaction fees. Out of these, 2.123 million SOL, worth $411.6 million, have been sold on-chain or transferred to Kraken. The average selling price for these tokens has been approximately $194, significantly higher than SOL’s current market value.

$400M Annual Revenue: A Blockchain Money Machine

Generating more than $400 million in annual revenue, Pump.Fun has proven itself to be a highly efficient and profitable blockchain-based operation. Its ability to consistently convert transaction fees into substantial revenue showcases its reputation as a “money-printing machine” within the ecosystem.

Conclusion

FTX/Alameda and Pump.Fun demonstrate the potential for significant gains in the Solana ecosystem through strategic staking, redemptions, and fee management, even amid fluctuating market conditions.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: solarseven/123RF // Image Effects by Colorcinch

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

Share
Published by
Will Izuchukwu

Recent Posts

EOS PRICE ANALYSIS & PREDICTION (April 9) – EOS Enters Pullback Mode After Facing Support, Rebound Ahead

EOS went offensive last month after locating a solid ground in the dip. It faced…

5 hours ago

AVALANCHE PRICE ANALYSIS & PREDICTION (April 8) – Avax Sees 13% Gains as Global Market Recovers, Remains Bearish

Starting this week with a sell-off, Avax found support and recovered after registering a double-digit…

1 day ago

The Golden Era of Shorting Altcoins is Over, Says Crypto Expert 0xSun

On April 7, Smart Money and well-known crypto figure 0xSun (@0xSunNFT) shared a candid market…

1 day ago

Against the Tide: $RFC Surges Over 100%, Hits $26M Market Cap ATH

In a striking reversal of fortune, the Retard Finder Coin ($RFC), a memecoin based on…

1 day ago

Fartcoin: The Memecoin Dominating Solana’s AI Sector and Smart Money’s Radar

The cryptocurrency world does not stand still; it is constantly in its own state of…

1 day ago

Bitcoin Futures Liquidations Hit $58.8 Million: Long Positions Take the Brunt of the Hit

In the past 24 hours, Bitcoin's price tumbled by 10%, but the amount of liquidations…

1 day ago