FTX has recently deposited a staggering $24 million worth of assets into Kraken and OKX within the last five hours. The assets involved in this substantial transfer include 250,000 SOL (equivalent to $13.5 million), 8.27 million MATIC ($7.41 million), and 1,500 ETH ($3.1 million).
Only $179,000 Left in SOL, but Massive Holdings Under Lock-Up
The Extent of Asset Transfers by FTX and Alameda
As of November 14, it has been reported that FTX and Alameda have collectively moved a whopping $438 million worth of 42 different assets to various exchanges.
During the same timeframe, Ethereum (ETH) experienced a downturn, adding an interesting dynamic to the situation. Despite the challenges faced by ETH, SOL’s performance and metrics started to shine, attracting attention from market observers.
As of November 14, FTX now holds a mere 3,408 $SOL ($179,000) in liquidity. However, it’s important to note that a substantial amount of $SOL, precisely 42.2 million ($2.19 billion), remains under lock-up, according to CoinGecko. These assets are set to unlock gradually, starting from next year and are expected to stay mostly frozen until 2027 or 2028.