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FTX, the cryptocurrency exchange that suddenly went bankrupt in November 2022, received permission from the court to sell its crypto assets in early September.
Under this permission, the court limited FTX's asset sales to $100 million per week.
At this point, FTX and its subsidiary Alameda Research recently transferred four altcoins worth $ 10 million to Binance and Coinbase.
However, the activity in FTX did not stop. On-chain analysis firm Peckshield said in its post that it moved various cryptocurrencies worth $20 million to the stock market.
Peckshield said approximately 470,000 Solana (SOL) worth $15 million were moved to different wallets.
Apart from SOL, 11,000 COMP and 974,000 RNDN worth $2.5 million and 1,393 Ethereum (ETH) worth $2.5 million were also transferred.
“Approximately 470,000 SOLs worth $15 million were moved to different wallets. Some of these funds were sent to CEXs such as Binance.
An Ethereum-based FTX-connected wallet transferred 11,000 COMP and 974,000 RNDN worth $2.5 million to the Binance address.
“An address labeled FTX also transferred 1,393 Ethereum (ETH) worth $2.5 million to the Coinbase address.”
In the rally that started in Bitcoin (BTC) and altcoins, Solana managed to attract the attention of investors with its rise. At this point, SOL, which rose to $ 33.9, continues to be traded at $ 32.02 at the time of writing.
#PeckShieldAlert #FTX Cold Storage-labeled address on #Solana has transferred ~470K $SOL (~$15M) out. Some of these funds have been sent to #CEXs like #Binance #FTX Cold Storage-labeled address on #Ethereum has transferred ~$2.5M worth of cryptos, including 11K $COMP & ~974K… pic.twitter.com/KSi4Fgf3Al
— PeckShieldAlert (@PeckShieldAlert) October 26, 2023
*This is not investment advice.