Kalshi Adds Solana Deposit Support
Kalshi, a U.S.-regulated prediction market platform overseen by the Commodity Futures Trading Commission (CFTC), announced on May 23, 2025, that it now supports Solana (SOL) deposits, alongside Bitcoin (BTC), USD Coin (USDC), and Worldcoin (WLD).
This integration allows users to fund their Kalshi accounts directly from Solana-compatible wallets, with deposits instantly converted to U.S. dollars via Zero Hash for trading on real-world event outcomes. This move is expected to boost Solana’s liquidity and adoption by tapping into Kalshi’s growing user base, which saw $1.97 billion in trading volume in 2024.
BMNR Buys Over 78K ETH This Week
Posts on X indicate that BitMNR purchased 414,914 ETH, valued at approximately $1.85 billion, increasing their total holdings to 1,565,177 ETH (~$7 billion), a 36% increase in seven days. This suggests significant accumulation, with some claiming BitMNR is outpacing other institutional buyers like BlackRock, which reportedly stacked $2.31 billion in ETH this week.
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Pump.Fun Buys Back Over $10M Worth of PUMP
Pump.Fun, a Solana-based memecoin launchpad, has been actively repurchasing its native token, PUMP, to counter sell pressure. Reports indicate buybacks totaling approximately $15 million over two weeks, with $6.68 million spent on August 8, 2025, to acquire 1.77 billion PUMP tokens using 33,000 SOL.
This contributed to a 22% price increase for PUMP, with its market cap climbing above $1 billion. Despite a drop in monthly revenue to $24.96 million in July 2025 (an 80% decline from January), Pump.Fun’s daily fees exceeded $1 million in early August, supporting these buybacks. The platform also launched the Glass Full Foundation to provide liquidity for promising projects, reinforcing its dominance in Solana’s memecoin ecosystem.
By integrating Solana (SOL) deposits, Kalshi, a regulated prediction market platform, enhances Solana’s utility and accessibility. This could drive demand for SOL as users deposit tokens to trade on real-world event outcomes, potentially increasing its price and liquidity.
Kalshi’s move strengthens its position against competitors like Polymarket, which also operates on blockchain networks. Supporting Solana could attract crypto-native users, expanding Kalshi’s market share in the growing prediction market space.
The addition of SOL alongside BTC, USDC, and WLD signals a trend toward mainstream platforms embracing cryptocurrencies, potentially encouraging other regulated platforms to follow suit. This could legitimize Solana further in traditional finance circles.
BMNR’s purchase of 78K ETH (part of a reported 414,914 ETH, ~$1.85 billion) signals strong institutional interest in Ethereum. Such large buys could fuel bullish sentiment, potentially driving ETH’s price higher in the short term due to reduced circulating supply. BMNR’s aggressive buying, alongside claims of BlackRock’s $2.31 billion ETH purchases, suggests growing institutional confidence in Ethereum’s long-term value, possibly driven by its role in DeFi, NFTs, and layer-2 scaling solutions.
Large-scale purchases by a single entity could reduce ETH liquidity in spot markets, increasing volatility if BMNR later sells or if other whales follow suit. Pump.Fun’s $15 million buyback program, including $6.68 million in one day, aims to counter sell pressure and stabilize PUMP’s price.
The resulting 22% price surge and $1 billion+ market cap reflect boosted investor confidence in the token and platform. As a leading Solana-based memecoin launchpad, Pump.Fun’s buybacks and the Glass Full Foundation initiative demonstrate commitment to supporting its ecosystem. This could attract more projects and users, reinforcing Pump.Fun’s dominance in memecoin creation.
Despite high daily fees ($1 million+), Pump.Fun’s 80% revenue drop from January to July 2025 suggests potential sustainability concerns. Buybacks may strain liquidity if revenue continues to decline, risking long-term financial health. The buybacks, funded by SOL, highlight Pump.Fun’s reliance on Solana’s infrastructure. Increased activity could drive SOL demand, but heavy SOL liquidation for buybacks might temporarily depress SOL’s price.