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Solana faces heavy sell pressure as Pump.fun deposits $738M SOL into Kraken, testing key support levels.

Market News
28 May 2026
AMBCrypto
View Source
Bearish
pluang ai news

Pump.fun has deposited over 4.2 million Solana (SOL), worth about $738.6 million, into Kraken, marking one of the largest recent sell-offs in Solana's ecosystem. This sustained selling pressure comes amid Solana's struggle to recover, with prices weakening near the $78.50 support level. Despite aggressive selling, overall market holders continue to withdraw SOL from exchanges, showing mixed market sentiment. If the $78.50 support breaks, further price declines are likely, while long liquidations above $17.5 million indicate buyers absorbing much of the volatility.

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