Coin Edition -
- FTX and Alameda transferred $22 million in cryptocurrencies to exchanges in 24 hours.
- FTX entities orchestrated the movement of 6.26 million IMX, amounting to $9.12 million after a recent value surge.
- So far, FTX has moved 64 crypto to exchanges with over $567 million values.
Blockchain data indicates that wallet addresses associated with financially distressed cryptocurrency entities FTX and Alameda persist in significant activity involving the transfer of substantial portions of their crypto portfolios to exchanges, potentially for liquidation.
Surveillance tools observing blockchain transactions have documented the movement of eight cryptocurrencies, with a combined value of around $22 million, from wallets associated with FTX in the past 24 hours. The recipients of these transfers include prominent cryptocurrency exchanges such as Binance and Coinbase (NASDAQ:COIN).
At the forefront of their latest crypto transfers to exchanges is the NFT-focused project Immutable (IMX) token. Per data from tracking resource CoinMarketCap, IMX has surged more than 119% in the past 30 days from $0.6815 to $1.4927. As a result, FTX entities orchestrated the movement of 6.26 million IMX, amounting to $9.12 million.
The market tracker Spot On Chain unveiled the details of this transaction through a recent tweet.