A wallet connected to the insolvent FTX exchange recently unstaked 177,693 SOL tokens, worth $23.75 million, from Solana, as per on-chain data.
Normally, unstaked tokens are transferred to exchanges for selling. Yet, FTX has not moved its unstaked Solana assets as of now.
This transaction has raised concerns about FTX potentially selling more Solana tokens, following a similar move earlier this year. Previously, FTX auctioned off portions of its Solana assets to entities like Pantera Capital and Galaxy Trading.
However, the recent unstaked 177,693 SOL represents only a fraction of the wallet’s total holdings. Data from Solscan reveals that the FTX-affiliated wallet still possesses 7.1 million SOL, valued at about $953 million.
Experts suggest that offloading such a large amount of SOL tokens could significantly impact the asset’s price when sold.
Despite these speculations, Solana’s performance remains strong. SOL has seen a 2.5% increase over the last 24 hours, trading at $135.26 at the time of publishing.
This price surge could be attributed to the broader recovery in the crypto market, with Bitcoin reaching $58,000 and other major cryptocurrencies like Ethereum and BNB also recording gains.
Alameda Transfers WLD and AAVE
In a related development, Alameda Research, FTX’s sister company, transferred some crypto holdings to centralized exchanges Binance and Coinbase.
According to Arkham Intelligence data, Alameda sent 143,800 Worldcoin (WLD) tokens, valued at around $200,000, to Binance and 373 AAVE tokens, worth $55,300, to Coinbase in the last eight hours.
These transfers are part of the ongoing asset liquidation efforts by the firm amid its bankruptcy proceedings.
Meanwhile, the defunct company’s wallet still holds approximately $220 million in digital assets, primarily in BitDAO (BIT), Worldcoin, and Stargate Finance, with a total value of $130 million.
