Claim BonusFTX Linked Wallet Transfers $10 Million In Solana Tokens To Binance, SOL Price To Fall?
Wallet address linked to crypto exchange FTX transfers $10 million worth Solana (SOL) tokens on Wednesday as part of the plan to liquidate crypto assets held by FTX and Alameda Research to pay back creditors.
FTX and Alameda in September received a court order to liquidate $3.4 billion worth of crypto assets. The debtors announced to sell crypto assets gradually to prevent any significant impact on prices.
FTX Dumps Solana (SOL) to Binance
PackShieldAlert on October 28 reported that an FTX-labeled wallet address transferred 309.2k SOL tokens worth more than $9.9 million. Along them, nearly 244k SOL tokens dumped to crypto exchange Binance.
The move comes as Solana price rallied 70% in October, allowing FTX Debtors to liquidate more SOL holdings. Former FTX CEO Sam Bankman-Fried revealed to the jury that he started buying Solana when it was trading at just $0.20.
CoinGape Media today reported that FTX and Alameda have sold $14.4 million worth of tokens to exchanges. As per data from Spot On Chain, FTX and Alameda Research still hold $736 million worth of EVM assets following recent deposits to various crypto exchanges over the past few days.
In September, a Delaware Bankruptcy Court approved a plan by FTX Debtors to liquidate crypto assets worth $3.1 billion held at FTX and Alameda Research.
Read More: VanEck Prediction on 10,600% Solana Price Rally By 2030 Triggers Debate
SOL Price Dips Amid Liquidations
SOL price fell more than 2% in the last 24 hours, with the price currently trading at $31.60. The 24-hour low and high are $31.53 and $33.30, respectively. Furthermore, the trading volume has decreased by 25% in the past 24 hours, indicating a decline in the interest of traders.
Analysts predict Solana will step back in search of fresh liquidity ahead of another breakout eyeing $40, bolstered by double golden cross patterns.
Also Read:
- Bitcoin (BTC) Ongoing Rally To “Pause”: CryptoQuant’s Research Head
- US Core PCE Inflation Slows To 3.7% But Higher MoM; Will US Fed Pivot?
- XRP Community Hails SEC Commissioner for Condemning LBRY Lawsuit
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- XRP News: Ripple Secures Full EU-Wide Electronic Money Institution License
- Ethereum Slips Below $2,200 Amid Broader Crypto Market Crash
- Crypto Market Crash: Why Are BTC, XRP, ETH, and DOGE Prices Falling Today?
- Is the Crypto Sell-Off Just Starting? Raoul Pal Flags US Liquidity Crisis From Govt. Shutdown
- Best Crypto-Friendly Banks & Neobanks in 2026 (Global List)
- Crypto Events to Watch This Week: Will the Market Recover or Crash More?
- XRP and BTC Price Prediction if Michael Saylor Dumps Bitcoin Following Crypto Market Crash
- Here’s Why MSTR Stock Price Could Explode in February 2026
- Bitcoin and XRP Price Prediction After U.S. Government Shuts Down
- Ethereum Price Prediction As Vitalik Withdraws ETH Worth $44M- Is a Crash to $2k ahead?
- Bitcoin Price Prediction as Trump Names Kevin Warsh as new Fed Reserve Chair
