Pump.fun (PUMP) remained largely neutral on the past day’s developments involving the project team.
For now, market sentiment will mainly depend on the actions of retail investors and users of the on-chain platform, as participants evaluate whether the next move will be a short-term rally or a further decline.
The team transfers the tokens to the exchange
Recent on-chain activity indicates movement related to the team behind the asset.
Data indicates that in the early hours of March 6, a wallet linked to Pump.fun executed two transactions that transferred its native token, PUMP, to cryptocurrency exchange Bitget.
The first transaction involved the sale of 1.75 billion PUMP, valued at approximately $3.54 million. The second transaction transferred 5,000 PUMP tokens, worth approximately $10.
Transfers from private wallets to centralized exchanges often raise concerns about a potential sell-off, as such moves generally increase the likelihood that tokens will enter the market.
Despite these transfers, the market has not yet shown strong volatility. PUMP’s price fell by 1.73%, while trading volume fell by 21% to around $100 million during the same period.
The market absorbs the potential selling pressure
So far, data on net spot trade flows show no clear evidence of a large-scale sell-off.
This metric tracks an asset’s inflows and outflows on exchanges to determine whether buyers or sellers are currently dominating market activity.
According to CoinGlass data, investors continued to purchase PUMP over the past five days, starting March 2, with average daily purchases of around $691,000.
Source: CoinGlass
However, a broader market indicator presents a different picture. The Accumulation/Distribution (A/D) indicator, which measures whether investors accumulate or distribute an asset over time, suggests that selling pressure still dominates.
Chart data shows that the distribution has persisted for several months, dating back to November 2025. In the last 24 hours alone, approximately 6 billion PUMP tokens entered circulation, indicating continued distribution in the market.
The divergence between recent spot buying and the longer-term A/D reading suggests that current accumulation remains relatively weak. This matches the modest average purchasing activity recorded over the past five days.
On-chain activity remains stable
Despite market uncertainty, on-chain activity in the Pump.fun ecosystem remains relatively stable.
Launchpad volume on the platform continues to climb, indicating sustained activity that could support demand for the token.
Data from Artemis shows that launchpad volume currently stands at $101.8 million, which is the second highest level recorded this year.
Source: Artemis
The highest level was reached on March 2, when the volume reached $105.2 million. Before this recent surge, the last time launchpad activity approached similar levels was in October 2025.
Growing usage of the platform could gradually support overall demand and strengthen PUMP’s value over time. One metric worth watching closely is the platform’s daily revenue.
Currently, Pump.fun generates approximately $1.3 million in revenue per day, reflecting robust activity across the entire ecosystem.
Final summary
- The PUMP team has moved some of its holdings to a centralized exchange, raising speculation about a possible sale.
- Daily purchases average about $691,000, but the decline in accumulation as part of a broader trend puts PUMP at downside risk.
