The Pumpfun group has been accused of dumping the token’s value because it continues to decline. This got here as on-chain knowledge flags huge transfers of USDC linked to the platform’s ICO proceeds to Kraken for sell-offs.
Pumpfun Faces USDC Sales Allegations
Blockchain trackers have once more recognized one other spherical of main USDC actions linked to the challenge’s treasury. Per data from EmberCN, the platform transferred 75 million USDC to Kraken inside an eight-hour window. This brings the whole quantity moved to 480 million USDC.
The Pumpfun group stated these have been simply regular transfers for its treasury. However, knowledge confirmed that Kraken made a switch of 69.26 million USDC to Circle after receiving the funds. Experts say that is almost certainly a sell-off.
Also, Lookonchain shared that that they had already offered $757 million in SOL between May 2024 and August 2025.
It seems https://t.co/C909I8882s has cashed out a minimum of 436.5M $USDC since Oct 15.
Since Oct 15, https://t.co/C909I8882s has deposited 436.5M $USDC into#$Kraken.
During the identical interval, 537.6M $USDC flowed from #Kraken to #Circle by means of pockets DTQK7G.
Between May 19, 2024… pic.twitter.com/WQGnUcA8l4
— Lookonchain (@lookonchain) November 24, 2025
The platform generated $136 million in income in January. It has now fallen to $38 million. The implication right here is that consumer exercise is decreasing.
Co-founder Sapijiju on the platform strongly pushed again towards the declare. He argued that the flagged transactions have been misconstrued. In a public assertion, he described the USDC actions as half of commonplace treasury administration.
“What’s happening is a part of pump’s treasury management, where USDC from the $PUMP ICO has been transferred into different wallets so the company’s runway can be reinvested into the business. pump has never directly worked with Circle,” he stated.
These newest transfers may weigh on belief tied to Pumpfun’s buyback program. They began the initiative in September to assist stabilize PUMP’s market efficiency.
PUMP Price Declines Despite Ecoystem Changes
The PUMP value has remained in a continuing state of decline since reaching its peak in August. The token achieved a value excessive of $0.00898 following the tip of its ICO. The coin has fallen steeply to at present commerce round $0.00291. That marks a decline of greater than 40% in simply the final month.
This comes regardless of optimistic developments in its ecosystem. In September, Pumpfun started the Project Ascend program to enhance its providers. This initiative adjustments the price construction to encourage creators. It additionally lowered charges as its market cap elevated.
The token was additionally adopted by establishments. Fitell Corporation purchased PUMP tokens for its treasury holdings. This is often not frequent for cash like this. These occasions didn’t impact the token’s value because it nonetheless stays in a dip.
