More
    HomeAltcoinsFTX-Related Solana Address Unstakes $90,000,000 Worth of SOL As Ethereum Rival’s Rally...

    FTX-Related Solana Address Unstakes $90,000,000 Worth of SOL As Ethereum Rival’s Rally Stalls: Lookonchain

    Published on

    DIGITAL MARKETING SERVICES

    spot_img
    FTX-Related Solana Address Unstakes ,000,000 Worth of SOL As Ethereum Rival’s Rally Stalls: Lookonchain

    A Solana address potentially related to the now-defunct crypto exchange FTX has unstaked $90 million worth of SOL, according to on-chain data.

    First spotted by Lookonchain, an address beginning with “4Axqyo” unstaked 1.5 million SOL and transferred it to another address.

    According to FTX, the address that received the coins then sent nearly a quarter billion dollars worth of SOL to crypto exchange Coinbase.

    “FTX-related address ‘4Axqyo…HswTAh’ unstaked 1.5M SOL ($90 million) 2 hours ago and transferred it to ‘3vxheE…5mgkom.’

    And we noticed that “3vxheE…5mgkom” deposited 4.13M SOL ($248.67 million) to Coinbase 11 hours ago.”

    The firm says that the ‘3vxheE’ is likely an internal address for Coinbase that the exchange uses for handling deposits before distributing coins to storage.

    The estate of FTX is currently in the process of selling off what’s left of its assets to partially compensate its debtors.

    Last week, a court in Delaware granted a motion filed earlier this month that would allow the debtors of FTX and its affiliates to start selling $744 million worth of trust assets associated with crypto asset management firms Grayscale and Bitwise.

    According to previous reports, the trust assets set to be sold include five different Grayscale Trusts valued at $691 million as well as holdings of a Bitwise-managed trust valued at $53 million.

    Source: FTX/Court Filing

    At time of writing, SOL is trading for $61.19, up over 512% on the year.

    Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

    Check Price Action

    Follow us on Twitter, Facebook and Telegram

    Surf The Daily Hodl Mix

    Check Latest News Headlines

    &nbsp

    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

    Generated Image: Midjourney

    The post FTX-Related Solana Address Unstakes $90,000,000 Worth of SOL As Ethereum Rival’s Rally Stalls: Lookonchain appeared first on The Daily Hodl.

    COMMUNITY

    spot_img

    SITE VISITS

    Map

    Latest articles

    BlockDAG Targets Stellar Growth With 15,000 TPS Amid Ethereum’s Market Surge And Polygon’s Price Challenges

    BlockDAG Targets Stellar Growth With 15,000 TPS Amid Ethereum’s Market Surge And Polygon’s Price...

    Binance Unveils New ‘Megadrop’ Token Launch Platform, Picks Bitcoin Restaking Chain To Serve As First Project

    Binance is unveiling a new “megadrop” token launch platform with Bitcoin (BTC) “restaking” chain...

    Crypto Analyst Issues Cardano Alert, Warns ADA Could Crash by up to 74% – Here’s His Outlook

    A cryptocurrency analyst and trader is expressing bearish sentiment on Cardano (ADA). In a new...

    DTX Exchange (DTX) Expected Listing in Q2 2024, Investors From Cardano (ADA) and Ripple (XRP) Join Presale

    DTX Exchange (DTX) Expected Listing in Q2 2024, Investors From Cardano (ADA) and Ripple...

    More like this

    BlockDAG Targets Stellar Growth With 15,000 TPS Amid Ethereum’s Market Surge And Polygon’s Price Challenges

    BlockDAG Targets Stellar Growth With 15,000 TPS Amid Ethereum’s Market Surge And Polygon’s Price...

    Binance Unveils New ‘Megadrop’ Token Launch Platform, Picks Bitcoin Restaking Chain To Serve As First Project

    Binance is unveiling a new “megadrop” token launch platform with Bitcoin (BTC) “restaking” chain...

    Crypto Analyst Issues Cardano Alert, Warns ADA Could Crash by up to 74% – Here’s His Outlook

    A cryptocurrency analyst and trader is expressing bearish sentiment on Cardano (ADA). In a new...
     - 
    Arabic
     - 
    ar
    Bengali
     - 
    bn
    German
     - 
    de
    English
     - 
    en
    French
     - 
    fr
    Hindi
     - 
    hi
    Indonesian
     - 
    id
    Portuguese
     - 
    pt
    Russian
     - 
    ru
    Spanish
     - 
    es