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<p class="is-style-lead">Memecoin launchpad Pump.fun has sold more Solana tokens as prices decline amid widespread selling across the market.</p> 
<p>Pump.fun’s selling comes as the price of Solana (<a rel="" href="https://crypto.news/price/solana/">SOL</a>) struggled alongside the broader market, which had Bitcoin (<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) trading below $58,000 again.</p> 
<h2 class="wp-block-heading" id="pump-fun-sells-10-3k-sol">Pump.fun sells 10.3k SOL</h2> 
<p>On Sept. 3, Lookonchain shared details revealing that the Pump.fun Fee Account had sold 10,300 SOL tokens. The platform offloaded the tokens at an average price of $134.46, netting $1.38 million. This brings Pump.fun’s total sales to 264,373 SOL, amounting to approximately $41.64 million at an average of $157.5 per token.</p> 
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   <p lang="en" dir="ltr">The <a rel="" href="https://t.co/DrKlYnPPqY" target="_blank">https://t.co/DrKlYnPPqY</a> Fee Account sold 10,300 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank">$SOL</a>($1.38M) at $134.46 again 40 mins ago!<a rel="" href="https://t.co/DrKlYnPPqY" target="_blank">https://t.co/DrKlYnPPqY</a> has sold 264,373 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank">$SOL</a>($41.64M) at an average price of $157.5.<a rel="" href="https://t.co/dZDKPfB4vU" target="_blank">https://t.co/dZDKPfB4vU</a> <a rel="" href="https://t.co/mRLYK100zl" target="_blank">pic.twitter.com/mRLYK100zl</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1830971486745866565?ref_src=twsrc%5Etfw" target="_blank">September 3, 2024</a>
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<p>On-chain data <a href="https://solscan.io/account/CebN5WGQ4jvEPvsVU4EoHEpgzq1VV7AbicfhtW4xC9iM#transfers" target="_blank">shows</a> that Pump.fun currently holds 303,852 SOL, worth over $39.6 million, in its Fee Account.</p> 
<p>The project also holds 41 other crypto tokens, totaling more than $45.2 million. That’s over $84.8 million in total, a significant revenue for a platform that became the fastest crypto company to generate $100 million in revenue.</p> 
<p> Read more: <a rel="" href="https://crypto.news/pump-fun-hits-100m-revenue-but-users-criticize-unsustainable-model/"> Pump.fun hits $100m revenue, but users criticize unsustainable model </a> </p> 
<h2 class="wp-block-heading" id="activity-shrinks-amid-competition">Activity shrinks amid competition</h2> 
<p>Pump.fun launched in January 2024 and quickly rose to prominence as the most popular meme coin launchpad. Its dominance led Solana to surpass Ethereum (<a rel="" href="https://crypto.news/price/ethereum/">ETH</a>) in meme coin activity, with tokens such as <a rel="" href="https://crypto.news/iggy-azalea-launched-her-coin-on-pump-fun-what-is-it/">Mother Iggy</a> exploding upon launch. Pump.fun itself raced to the <a rel="" href="https://crypto.news/pump-fun-reaches-30m-in-revenue-from-solanas-meme-coin-frenzy/">$30 million revenue</a> milestone in June this year.</p> 
<p>However, amid fresh competition from SunPump, a meme coin launchpad on Tron (<a rel="" href="https://crypto.news/price/tron/">TRX</a>), volume and activity have shrunk significantly. Most tokens have struggled to gain traction, and those that did attract significant volumes have plummeted amid the broader memecoin sell-off.</p> 
<p>The platform has also seen only a marginal number of users turn profits, with just 1% of wallets registering a profit of $1,000 or higher.</p> 
<p> Read more: <a rel="" href="https://crypto.news/only-0-76-of-pump-fun-wallets-made-1000-or-more-cn-research/"> Only 0.76% of pump.fun wallets made $1,000 or more: CN research </a> </p>

Pump.fun sells 10,300 SOL worth $1.38m

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