Rally

Solana

Moonriver

Fortune

Spot

<p>On-chain analytics firm Spot On Chain has detected large transfers of SOL and other tokens from FTX to centralized exchanges amid its ongoing liquidity crisis.</p>
<p>In the past day, <a href="https://twitter.com/spotonchain/status/1722150409643639240" target="_blank" rel="noopener noreferrer nofollow">Spot On Chain</a> identified two major asset movements by FTX:</p>
<ul>
 <li>250,000 SOL worth $10.83 million sent to Binance</li>
 <li>$38.5 million worth of SOL, ENS, GMT, LDO, APE, BADGER, and BNT sent to exchanges</li>
</ul>
<p>This continues a trend of FTX liquidating holdings into more liquid assets, likely to meet withdrawal demands.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="654" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-153-1024x654.png" alt="" class="wp-image-372392" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-153-1024x654.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-153-300x191.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-153-768x490.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-153-1536x980.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-153-2048x1307.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-153-235x150.png 235w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-153-100x64.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-153-548x350.png 548w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-153-788x502.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-153.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>On November 7, FTX moved:</p>
<ul>
 <li>750,000 SOL – $31.2 million</li>
 <li>325,501 ENS – $2.76 million</li>
 <li>10.1 million GMT – $2.22 million</li>
 <li>642,702 LDO – $1.26 million</li>
 <li>288,211 APE – $410,000</li>
 <li>127,407 BADGER – $365,000</li>
 <li>555,342 BNT – $323,000</li>
</ul>
<p>Yesterday, FTX sent another 250,000 SOL worth $10.83 million to Binance.</p>
<p>So far, FTX has deposited 5.74 million SOL (approximately $223 million) to various exchanges. Their remaining SOL balance sits at just 1.25 million tokens ($54.5 million).</p>
<p>The large-scale liquidation of FTX’s treasury assets indicates a desperate need for liquidity as users flee the exchange.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/why-is-moonriver-movr-price-up-exploring-the-catalysts-behind-the-rally/" target="_blank" rel="noopener noreferrer nofollow">Why is Moonriver (MOVR) Price Up? Exploring the Catalysts Behind the Rally</a></li>
 <li><a href="https://captainaltcoin.com/estonian-bankers-469000000-ethereum-fortune-locked-away-forever-after-losing-keys-can-anyone-crack-the-eth-wallet/" target="_blank" rel="noopener noreferrer nofollow">Estonian Banker’s $469,000,000 Ethereum Fortune Locked Away Forever After Losing Keys – Can Anyone Crack the ETH Wallet?</a></li>
 <li><a href="https://captainaltcoin.com/join-etuktuks-revolution-only-few-hours-left-at-the-current-price/" target="_blank" rel="noopener noreferrer nofollow">Join eTukTuk’s revolution – Only few hours left at the current price</a></li>
</ul>
<p>Binance dipping into its own reserves to facilitate customer withdrawals has also raised liquidity concerns. However, Spot On Chain notes Binance still holds over 3 million BTC, suggesting a still-robust position.</p>
<p>Overall, the rapid outflows and asset movements paint a bleak picture of solvency challenges at FTX. The coming days will shed more light on whether a liquidity crunch morphs into a full collapse.</p>
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<p>The post <a href="https://captainaltcoin.com/ftx-continues-to-offload-solana-and-other-assets-how-much-sol-remains-on-the-exchange/" rel="noopener noreferrer nofollow">FTX Continues to Offload Solana and Other Assets: How Much SOL Remains on the Exchange?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

FTX Continues to Offload Solana and Other Assets: How Much SOL Remains on the Exchange?

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