Solana’s meme coin creation platform Pump.fun has continued its transfer of SOL tokens. The platform recently transferred 196,370 SOL, worth approximately $25.3 million, to the Kraken exchange.
Additionally, Pump.fun’s daily fee revenue dropped from around 12,000 SOL, or $2 million per day, in February 2025 to less than 1,000 SOL, or $100,000 per day, in March, a 95% drop.
Pump.fun Transfers SOL to Kraken
According to EmberCN, the recent 196,370 SOL transfer consisted of two main transactions of 78,000 SOL and 118,370 SOL.
“The SOL that PumpFun transferred to Kraken today is only a small portion of the fee income from the past three weeks. In addition, there are 120,000 SOL that PumpFun redeemed as pledged SOL,” EmberCN reported.
Recent SOL transfers from the Pump.fun Fee wallet. Source: EmberCN
As of January 2025, Lookonchain reported that Pump.fun had transferred 1.56 million SOL to Kraken. With SOL prices ranging from $180–$200 in Q1, this amount was valued between $281 million and $313 million. With the latest transfer, the total SOL sent to exchanges now reaches approximately 1.76 million SOL, worth around $219 million at current prices.
Declining Revenue at Pump.fun
Moreover, EmberCN further highlighted that in February 2025, Pump.fun’s daily fee revenue averaged 12,000 SOL per day or approximately $2 million per day. However, as of March 2025, revenue has dropped below 1,000 SOL per day, marking a 95% decline.
Previously, Dune Analytics data showed that Pump.fun generated 72,506 SOL in revenue on January 1, 2025, a 30% increase from its previous peak of 55,000 SOL in November 2024.
Pump.fun’s cumulative fee revenue is estimated to be nearly $600 million at the time of writing. A portion of this revenue appears to have been moved or sold.
The drastic fee decline is likely due to fading interest in meme coins. The meme coin craze on Solana peaked in late 2024 and early 2025. However, recent token performance on Pump.fun has failed to meet expectations. Only a small percentage of Pump.fun tokens reach wider markets like Raydium.
Previously, Pump.fun also contributed to the market boom by creating over 600,000 new tokens in January 2025. However, competitive platforms like Four.meme have captured community interest, despite suffering from hacks. Over the past 24 hours, six tokens launched on Four.meme have exceeded a $1 million market cap, while only one token on Pump.fun reached that threshold.
Moreover, according to EmberCN, PvP trading enthusiasm in SOL has plummeted, reducing transaction volume on Pump.fun.
The 95% revenue drop from February to March 2025 signals a potential downturn. Pump.fun’s heavy reliance on meme coins makes it vulnerable to market shifts. Meme coin market capitalization has dropped substantially, signaling a possible end to the “supercycle” of explosive growth. The ongoing SOL transfers to Kraken could indicate sales preparations, potentially putting downward pressure on SOL prices.
At the time of BeInCrypto’s report, SOL price is trading at $124.05.
Many cryptocurrency projects such as Aave, dYdX, Jupiter, and Hyperliquid have recently announced token buyback mechanisms.
Traditional stock markets inspire the token buyback strategy. But does this strategy help crypto projects build a sustainable economic model and contribute to increasing the price of their tokens?
The Booming of Crypto Projects’ Token Buyback Programs
Token buybacks occur when crypto projects repurchase their tokens from the market. These repurchased tokens can be held as reserves or even burned. In theory, buybacks reduce circulating supply, creating scarcity, which may drive up token prices. Although not a new strategy, BeInCrypto has observed that this trend is rapidly expanding.
For example, in early March 2025, the lending protocol Aave (AAVE) announced the implementation of a new Aavenomics. Aave will repurchase tokens to reduce supply and shift from staking rewards to a more sustainable liquidity model. This included a weekly AAVE token buyback worth $1 million for six months, funded by protocol fees.
In an ideal scenario, this buyback plan could reach a total value of $100 million (3% of the circulating supply).
“We consider it the most important proposal in our history, feel free to have a read and provide feedback,” said Marc Zeller, founder of the Aave Chan Initiative (ACI).
Also in March, the decentralized exchange (DEX) dYdX approved “Proposal #225” to buy back DYDX tokens. The protocol will use platform revenue for the buyback.
Other crypto projects like Hyperliquid (HYPE) and Jupiter (JUP) have similar plans. Estimates suggest Hyperliquid will repurchase $600 million worth of tokens annually, using 50-100% of transaction fees. This protocol dominates decentralized finance (DeFi) despite the market downturn.
These are just a few of the most typical crypto projects. Many other projects, including Gnosis, Gains Network, and Arbitrum, employ similar strategies. So, could this reshape the current cryptocurrency market?
What’s Driving This Token Buyback Trend?
Discussing this buyback strategy, an X (formerly Twitter) user commented:
“Buybacks create steady demand and reduce circulating supply, which can stabilize or even increase token prices.” commented Capitanike.
The fundamental economic principle of supply and demand is the key driver. By reducing circulating supply, crypto projects aim to increase token scarcity, which could push prices higher. According to SolanaFloor, projects with token buyback programs outperformed those without buybacks by 46.67% in 2024 (-0.6% vs. -47.15% YTD).
Performance of Projects with Token Buyback Programs Source: SolanaFloor
Secondly, the buyback can signal strong financial health for crypto projects. This is particularly effective in reassuring investors amid market volatility.
Thirdly, unlike the token burn strategy, many projects (such as AAVE and Gains Network) redistribute repurchased tokens to stakers or holders, aligning incentives. This approach could indicate the maturity of a project’s tokenomics model over time.
However, token buybacks are not without weaknesses. As this strategy becomes more widespread, regulators like the SEC may scrutinize it for potential manipulation or illicit activities.
Additionally, an improperly calculated buyback strategy could overly reduce token supply. If a project fails to balance new issuance or staking rewards, it might suffer from decreased trading volume. Moreover, buybacks could potentially mask financial weaknesses.
“What’s more plausible, in our opinion, is that these buybacks serve as proof that the projects raised too much during their ICO, are failing to develop anything useful, and don’t know what to do with their cash balances…” TokenData Research report.
The recent surge in crypto projects adopting token buybacks marks a significant evolution in tokenomics. While buybacks can enhance price stability, investor confidence, and ecosystem growth, they also carry manipulation risks and regulatory problems.
Charles Schwab, one of the largest brokerage firms in the United States, is preparing to launch a spot cryptocurrency trading platform within the next year.
This marks a major move by one of the most trusted names in traditional finance and shows that demand for crypto investment options continues to climb.
Charles Schwab Eyes Crypto Expansion
During a recent earnings call, Schwab CEO Rick Wurster said the firm is optimistic about upcoming regulatory changes that could allow it to fully enter crypto trading.
“Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto and our goal is to do that in the next 12 months and we’re on a great path to be able to do that,” Wurster explained.
This move would allow the company to offer direct access to spot crypto trading and place it in direct competition with major players like Coinbase and Binance.
While the company already offers crypto-related products such as Bitcoin futures and crypto ETFs, the addition of direct trading would significantly expand its crypto portfolio. According to the CEO, engagement on these products has grown rapidly in recent months.
Wurster revealed that visits to the firm’s crypto-focused content have surged 400%. Of that traffic, 70% came from users who are not yet customers, showing a growing appetite for digital asset investments.
If these improvements continue, Schwab could debut its spot crypto trading platform before mid-2026. The firm believes its reputation in traditional finance gives it a strategic advantage in expanding into the crypto space.
Meanwhile, Schwab is already dipping its toes into the sector through its role as custodian for Truth.Fi, an upcoming digital investment platform launched by Trump Media and Technology Group. Truth.Fi plans to offer a mix of Bitcoin, separately managed accounts, and other crypto-linked products.
Indeed, Schwab’s potential entry into the sector has drawn attention from other industry leaders. Asset management firm Bitwise CEO Hunter Horsley described the brokerage firm’s move as a milestone in crypto’s transition to mainstream finance.
Rachael Horwitz, Chief Marketing Officer at Haun Ventures, echoed that sentiment and encouraged Schwab to consider crypto-collateralized lending as a future offering.
“Schwab should implement crypto-collateralized lending as part of its banking services next,” Horwitz said.
Several ecosystems will make headlines this week as part of the top crypto news list. Knowing about these events in advance can help traders and investors position their portfolios strategically to capitalize on the expected price movement.
Based on crypto’s adage to buy the rumor and sell the news situation or event, traders and investors can front-run the following events this week.
The Bitcoin Act Bill to Buy 1 Million BTC
The BITCOIN Act of 2025 is the top crypto news story this week. Introduced by Senator Cynthia Lummis, the bill proposes the US Treasury acquire 1 million Bitcoin (BTC) over five years to establish a Strategic Bitcoin Reserve, mirroring the scale of US gold reserves.
“Sen Lummis says Trump backs Bitcoin act—bill to buy 1M BTC hits floor next week,” Crypto Goos reported.
Reintroduced in March 2025, the bill gained traction after President Trump’s executive order supporting a federal Bitcoin reserve. The act mandates secure, decentralized storage across the US, with a 20-year minimum holding period and transparency via proof-of-reserve (PoR) audits.
Funding would come from Federal Reserve (Fed) remittances and revaluing gold certificates. While Trump’s backing boosts momentum, passage remains uncertain due to legislative hurdles and debates over fiscal impact.
If passed, it could position Bitcoin as a formal reserve asset, potentially driving a price surge. It would also reinforce US financial leadership.
“By codifying this effort into law, we can ensure that our nation leverages digital assets to strengthen our financial future while maintaining its global leadership,” Senator Lummis said in a statement.
As of this writing, Bitcoin traded for $105,082, up by 0.69% in the last 24 hours.
Infinex’s Airdrop for KAITO Stakers
Another top crypto news story this week concerns Infinex. The multi-chain crypto platform announced a significant airdrop for KAITO stakers.
“For those of you staking KAITO, the airdrop will occur next week. We recommend you have your Genesis NFTs in the same wallet as your sKAITO, as the snapshot will happen soon,” Infinex wrote in a post.
The airdrop follows a $6 million token distribution in May 2025, which propelled Infinex to the top spot on Kaito’s sentiment rankings, with trading volume surging 320% to $18 million within hours.
KAITO, an AI-driven crypto analytics platform, rewards user engagement, and this crypto airdrop targets its stakers, offering tokens to boost ecosystem participation.
Infinex’s non-custodial wallet supports EVM chains and Solana, integrating staking and trading with a user-friendly interface. The airdrop aims to drive liquidity and attract speculators, though historical data suggests potential post-airdrop price volatility.
Infinex Wallet Adding Avalanche Support
Beyond crypto airdrops for KAITO stakers, Infinex will also add support for the Avalanche blockchain, expanding its multi-chain wallet capabilities.
“We have received proof of patron from Emin Gün Sirer. Avalanche incoming on Infinex next week,” wrote Infinex Kain.avax.
Emin Gün Sirer is the founder and CEO of Ava Labs and developed the Avalanche Consensus protocol underlying the Avalanche blockchain platform.
Avalanche’s high-throughput, low-latency network will enable Infinex users to trade, stake, and bridge assets seamlessly, tapping into Avalanche’s DeFi and NFT ecosystems.
Meanwhile, Infinex’s passkey-based security and gas-free transactions aim to simplify the user experience and compete with centralized exchanges (CEXs).
The integration could drive trading volume in AVAX and related tokens, with Infinex’s prior $6 million airdrop showing 320% volume spikes. Staking opportunities may also extend to Avalanche assets, attracting yield farmers.
Traders should monitor AVAX price action and Infinex’s token (INF) for potential volatility post-launch.
Ethereum’s New Initiative with Base
Also among the top crypto news this week, Ethereum is expected to announce a new initiative in collaboration with Base, Coinbase’s layer-2 scaling solution.
Base, built by Coinbase, enhances Ethereum’s scalability with low-cost, fast transactions while maintaining security. The initiative may focus on advancing DeFi or NFT ecosystems, given Base’s integration with Ethereum’s mainnet.
“Next week, in collaboration with Base and Ethereum, we are pushing a new initiative (for the culture). So look out for that,” Ethereum.org wrote on May 30.
The collaboration could involve new dApps, staking enhancements, or cross-chain interoperability, building on Base’s support for Optimism’s tech stack. This aligns with Ethereum’s broader push to improve user experience and reduce gas fees, potentially boosting adoption.
World Computer Summit
Another top crypto news this week concerns the World Computer Summit, starting Wednesday, June 3, hosted by DFINITY Foundation in Zurich, Switzerland.
Posts on X suggest that the event will feature major announcements and decentralized computing. It celebrates the fourth anniversary of the Internet Computer Protocol (ICP).
“What is the World Computer Summit 2025? It’s a global gathering of builders, thinkers, visionaries reimagining the internet for a decentralized world. Held in Zurich on June 3, it marks 4 years of the Internet Computer Protocol,” wrote Miss Knighty, a popular user on X.
The summit could reveal advancements in Web3, AI, and blockchain interoperability. Projects like Internet Computer (ICP) may unveil updates on decentralized AI or global compute networks, given their focus on a “World Computer” vision.
Internet Computer (ICP) price performance. Source: BeInCrypto
Past summits have driven market activity, with tokens like ICP seeing surges post-announcements. As of this writing, ICP traded for $4.93, up nearly 1% in the last 24 hours.
$46 Million TAIKO Unlock
Meanwhile, with key token unlocks to watch this week, the Ethereum-based L2 scaling solution, Taiko, will unlock $46 million worth of TAIKO tokens on June 5. This unlock will constitute over 69% of its circulating supply.
Taiko’s total supply is 1 billion, with 241 million tokens currently circulating. The unlock of 21.84 million tokens, valued at $42 million in August 2024, suggests a rising token price. With 81.55 million TAIKO tokens unlocked on Thursday, volatility is expected, especially if recipients cash in for early gains.
NotabThesens will be allocated to investors, protocol guild airdrop, and Taiko Labs, constituting the core team.
