FTX Cold Storage’s Big Transactions Coincide With 40% SOL Spike

Key Points:

• FTX Cold Storage #2 recently redeemed 1.6M SOL and transferred 1.26M SOL to crypto exchanges.
• Despite unstaking 1.6M SOL in late October, these funds remain in the staking account.
• These transactions coincide with a 40% increase in SOL value to $41.

FTX Cold Storage #2 redeemed 1.6M SOL ($65.46M), with 3.96M SOL ($162M) still staked after it had transferred 1.26M SOL ($40.67M) to CEX on October 25. These transactions coincide with a 40% increase in SOL value to $41.

FTX Cold Storage #2, a major crypto wallet associated with FTX/Alameda, has been involved in significant cryptocurrency transactions recently.

Recent Transactions by FTX Cold Storage #2

On November 1st, it redeemed 1,600,645 SOL (worth approximately $65.46 million), with 3,963,725 SOL (around $162 million) remaining staked at the address. Since October 25, this address has transferred 1,259,886 SOL ($40.67 million) to crypto exchanges. These transactions coincide with a 40% increase in SOL value to over $41, a new annual high.

In late October, Wu Blockchain reported FTX Cold Storage #2 unstaked 1.6 million SOL, worth about $58.76 million. However, these funds are still held in the staking account. The wallet also holds over $100 million in various assets, including WBTC, JSOL, mSOL, ETH, and USDT.

On October 26, Lookonchain reporetd that FTX Cold Storage #2 transferred $469,587 SOL ($15.2 million) out, with 250K SOL ($8.1 million) going to exchanges. Of this, 170K SOL ($5.5 million) was transferred to Binance, and 80K SOL ($2.6 million) to Coinbase.

Composition of FTX/Alameda’s Diverse Crypto Asset Portfolio

FTX/Alameda’s assets include significant holdings in SOL, BTC, ETH, APT, USDT, XRP, BIT, STG, WBTC, WETH, SRM, MAPS, OXY, MEDIA, FIDA, BRZ.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.