Coin Edition -
- FTX and Alameda transferred $38.5 million in cryptocurrencies to exchanges in 24 hours.
- FTX’s Solana reserves are nearly exhausted after one million SOL worth $43 million were moved out.
- So far, FTX has moved 36 digital assets out to exchanges valued at over $350 million.
On-chain data has revealed that wallet addresses linked to the insolvent cryptocurrency entities FTX and Alameda have continued to engage in substantial movement of their crypto portfolio to exchanges, potentially for liquidation.
Monitoring tools tracking blockchain transactions have reported that wallets tied to FTX have moved seven cryptocurrencies, collectively valued at upwards of $38.5 million within the last 24 hours. The destinations of the transfers include crypto exchanges Binance and Coinbase (NASDAQ:COIN).
Leading the pack in their most recent crypto movement to exchanges is Solana (SOL), a digital asset that has appreciated by over 90% within the last 30 days. Specifically, FTX entities moved out 750,000 SOL valued at $31.2 million. Market tracker Spot On Chain disclosed the movement in a recent tweet.
Meanwhile, in a follow-up statement, it noted FTX transferred an additional 250,000 SOL tokens worth $10.83 million to the largest trading platform, Binance. Therefore, in 24 hours, FTX has deposited one million units of SOL tokens to exchanges. The moved SOL is worth over $43 million.