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## On-Chain Whales Act Frequently, Solana DeFi Tokens See Over $15 Million Outflow
According to on-chain data tracking from Lookonchain, recent activity by large holders and institutional accounts in the Solana DeFi ecosystem has become increasingly active. In the past 48 hours alone, multiple whale addresses have withdrawn a total of $15.9 million worth of DeFi-related assets from major exchanges, reflecting a trend of reallocation of on-chain funds.
### Overview of Specific Fund Flows
Among these withdrawals, the most notable is the large-scale withdrawal of PUMP—73.9 billion PUMP tokens (current price $0.00) transferred to a self-custody wallet, valued at $13.77 million, accounting for 86% of the total outflow. This indicates that major holders remain optimistic about the project's long-term prospects.
In addition to PUMP's dominant position, other Solana ecosystem DeFi tokens have also seen varying degrees of institutional activity:
- **CLOUD (Sanctum):** 8.02 million tokens outflow, valued at $621,000 (current price $0.07)
- **KMNO (Kamino):** 9.06 million tokens outflow, valued at $539,000 (current price $0.05)
- **JTO (Jito):** 1.33 million tokens outflow, valued at $521,000 (current price $0.36)
- **DRIFT (Drift Protocol):** 3.05 million tokens outflow, valued at $479,000 (current price $0.17)
### The Logic Behind On-Chain Activity
Such large withdrawals typically reflect two possibilities: on one hand, institutional investors may be positioning for long-term holdings, choosing to store assets in self-custody wallets to avoid exchange risks; on the other hand, it may also indicate market participants' confidence in the fundamentals of these projects. In the rapidly evolving Solana DeFi ecosystem, the flow of funds by whales often serves as a leading indicator of market trends.