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