A wallet linked to the PUMP core vault has transferred 11.2 billion PUMP tokens, worth roughly $21.2 million, to Kraken, according to on-chain monitoring by Ember, signaling a potentially significant liquidity event for the token’s circulating supply.
The moved tokens represent about 1.12% of PUMP’s total supply and originate from an earlier allocation of 20 billion tokens (2% of supply) received by the same wallet at the project’s launch last July.
Large transfers to centralized exchanges are often interpreted by traders as a precursor to distribution or market-making activity, raising the risk of short-term sell pressure depending on whether the tokens are intended for immediate sale, liquidity provisioning, or strategic treasury management.
Source: Intel.Akrm
While a single transfer does not confirm imminent selling, the size relative to total supply could influence market sentiment, particularly in thin liquidity environments where concentrated token movements can amplify volatility.
Market participants will likely monitor exchange inflows, order book depth, and subsequent wallet activity to gauge whether the transfer signals active distribution or a routine treasury rebalancing move.
