Solana under pressure: Pump.fun’s $10M SOL move sparks THIS Q3 debate
The post Solana under pressure: Pump.fun’s $10M SOL move sparks THIS Q3 debate appeared on BitcoinEthereumNews.com. For Layer 1 networks, price action isn’t just driven by technicals. Solana fits this narrative well. As a Layer 1 that powers an entire ecosystem, Solana’s growth story isn’t just about price action or creating value for token holders. It’s also tied to how applications and protocols within its ecosystem perform on-chain, driving network demand, revenue, and overall activity. With that in mind, Pump.fun is back in the spotlight. The platform recently sold another 122,498 SOL, worth $10.08 million. That brings its total SOL sales to 4,656,826 SOL, valued at $794.8 million, at an average selling price of $170.70. The chart below shows why this latest move has become a key point of discussion. Source: Dune Evidently, Pump.fun has become one of Solana’s most active trading venues. Daily Spot Volume has climbed to around $725 million, with more than 517,000 wallets interactin