A wallet associated with bankrupt exchange FTX recently unfroze 177,693 SOL Token , worth $23.75 million, from Solana, according to Chain data.
Typically, Token are transferred to exchanges for sale after the lockup is released. However, at the time of writing, FTX has not yet moved its SOL .
However, the transaction has raised concerns that FTX may be planning to sell additional Solana Token , as it has done in the past. Earlier this year, the FTX estate auctioned off a portion of its Solana assets to institutional investors such as Pantera Capital and Galaxy Trading.
Notably, an important detail in the recent transaction is that this 177,693 SOL represents only a small portion of the wallet’s assets. Data from Solscan shows that the wallet associated with FTX still holds 7.1 million SOL, worth approximately $953 million.
Market observers have commented that the large amount of SOL tokens could significantly impact the asset's value if they were unfrozen and sold.
Despite these speculations, Solana continues to perform well. SOL is up 2.5% over the past 24 hours, trading at $135.26 at the time of writing.
This price performance could be related to the recovery of the broader crypto market, with Bitcoin climbing to $58,000, while other major digital assets such as Ethereum , BNB , and others also gained.
Alameda Transfers WLD and AAVE
In a related development, FTX’s sister company, Alameda Research, has moved some of its crypto assets to centralized exchanges Binance and Coinbase.
According to data from Arkham Intelligence, Alameda moved 143,800 Worldcoin (WLD), worth about $200,000, to Binance and 373 AAVE, worth $55,300, to Coinbase over the past eight hours.
These transactions are part of the company's efforts to liquidate assets during bankruptcy proceedings.
Meanwhile, the company's wallet still holds around $220 million in digital assets, primarily in BitDAO (Bit), Worldcoin , and Stargate Finance, with a total value of $130 million.
