Is a Massive Solana Sale Coming from FTX? Unlocked After One Month! - Coin Bulletin

FTX and Alameda in the bankruptcy process have unlocked SOL again after about a month. Although no sales have been made yet, the markets are anxious.

Crypto markets continue to closely monitor the asset movements of the bankrupt FTX and its sister company Alameda. According to data reported by on-chain analysis platforms Lookonchain and Wu Blockchain, FTX/Alameda today unlocked 186,326 SOL, approximately 21.5 million dollars.

This movement represents only a small portion of the Solana (SOL) assets that the company previously locked. According to Wu Blockchain, there are still 5.36 million SOL ( approximately 619 million dollars) staked in the FTX/Alameda wallet, and these assets are still awaiting to be unlocked.

(# Is it a sell signal?

Although no sales transactions have occurred yet, such large unlocks in the market are being closely monitored because they could create potential selling pressure on prices. Especially in relatively volatile altcoins like SOL, such large supply movements can influence investors' decisions.

It is known that FTX occasionally sells assets to be able to make payments to creditors during its bankruptcy process. Therefore, such key unlocks can be perceived as a sell signal.

As the next steps of FTX and Alameda are eagerly awaited, it is noted that this development could create short-term uncertainty on the SOL price.