{"id":182820,"date":"2023-10-28T14:56:54","date_gmt":"2023-10-28T09:26:54","guid":{"rendered":"https:\/\/dripp.zone\/news\/ftx-linked-wallet-transfers-10-million-in-solana-to-binance-sol-price-to-fall-crypto-news\/"},"modified":"2023-10-28T14:56:57","modified_gmt":"2023-10-28T09:26:57","slug":"ftx-linked-wallet-transfers-10-million-in-solana-to-binance-sol-price-to-fall-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ftx-linked-wallet-transfers-10-million-in-solana-to-binance-sol-price-to-fall-crypto-news\/","title":{"rendered":"FTX Linked Wallet Transfers $10 Million In Solana To Binance, SOL Price To Fall? – Crypto News"},"content":{"rendered":"

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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<\/a> and Alameda Research to pay back creditors.<\/p>\n

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.<\/p>\n

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FTX Dumps Solana (SOL) to Binance<\/h2>\n

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.<\/p>\n

The move comes as Solana price rallied 70% in October, allowing FTX Debtors\u00a0to 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.<\/p>\n

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CoinGape Media today reported<\/a> 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.<\/p>\n

In September, a Delaware Bankruptcy Court approved<\/a> a plan by FTX Debtors to liquidate crypto assets worth $3.1 billion held at FTX and Alameda Research.<\/p>\n

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Read More: <\/strong>VanEck Prediction on 10,600% Solana Price Rally By 2030 Triggers Debate<\/a><\/p>\n

SOL Price Dips Amid Liquidations<\/h2>\n

SOL price<\/a> 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.<\/p>\n

Analysts predict Solana will step back in search of fresh liquidity ahead of another breakout eyeing $40, bolstered by double golden cross patterns.<\/p>\n

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