In keeping with on-chain information, a pockets linked to the now-bankrupt FTX trade just lately unstaked 177,693 SOL tokens price $23.75 million from Solana.
Sometimes, tokens are despatched to exchanges and bought after unstaking, nevertheless, on the time of writing, FTX has not but moved any of its unstaked Solana holdings.
Nonetheless, the transaction raised issues that FTX could also be planning to promote extra Solana tokens, because it did beforehand: Earlier this yr, the FTX Basis auctioned off a few of its Solana property to institutional traders, together with Pantera Capital and Galaxy Buying and selling.
In the meantime, what's essential about this current transaction is that the unstaken 177,693 SOL represents solely a fraction of the pockets's holdings: In keeping with Solscan information, there are nonetheless 7.1 million SOL held in FTX-related wallets, valued at roughly $953 million.
Market observers famous that such a lot of SOL tokens might have a major impression on the asset value if unstaked and bought.
Regardless of these speculations, Solana continues to carry out properly: SOL has risen 2.5% previously 24 hours and is buying and selling at $135.26 on the time of writing.
This value motion is probably going linked to a restoration within the broader cryptocurrency market, the place Bitcoin rose to $58,000 and different main digital property akin to Ethereum and BNB additionally recorded positive factors.
Alameda transfers WLD and AAVE
Relatedly, FTX sister firm Alameda Analysis has moved a few of its crypto holdings to centralized exchanges Binance and Coinbase.
In keeping with information from Arcam Intelligence, Alameda moved 143,800 WorldCoin (WLD), price roughly $200,000, to Binance and 373 AAVE, price $55,300, to Coinbase previously eight hours.
These transactions are a part of the corporate's ongoing asset liquidation efforts because it navigates chapter proceedings.
In the meantime, the defunct firm’s wallets nonetheless maintain round $220 million in digital property, primarily BitDAO (BIT), WorldCoin and Stargate Finance, bringing the whole worth to $130 million.
