FTX Moves $39.72M in SOL Tokens from Coinbase Prime – Coincu

According to CoinMarketCap, Solana’s current price is $151.69, with a market cap of $80.06 billion, indicating 2.41% market dominance. Recent price alterations include a 2.81% decline over 24 hours, a 4.96% dip in seven days, and a 9.08% fall over 30 days. Despite short-term declines, Solana has seen a 21.90% surge over 90 days.

Coincu’s research indicates that the systematic liquidation strategy could mitigate severe market repercussions. However, continued asset releases might foster regulated selling environments, contributing to market stabilization over long terms. CoinShares has taken notice of Solana’s dynamics, evidenced by their Solana ETF filing.

Transferring these tokens potentially impacts liquidity

As FTX uses SOL primarily for creditor payments, such movements could contribute to selling pressure on the market. Previous transactions have seen tokens sold at discounted rates.

Market participants, particularly within the Solana ecosystem, are monitoring these developments carefully. Kavuri’s remarks further intensified the focus on potential sales and price shifts. Despite discussions, no formal comment emerged from FTX or Coinbase.

Market participants, particularly within the Solana ecosystem, are monitoring these developments carefully. Kavuri’s remarks further intensified the focus on potential sales and price shifts. Despite discussions, no formal comment emerged from FTX or Coinbase.

Historical SOL Transfers Suggest Potential Market Impact

Did you know? FTX’s transfer slightly recalls the March 2025 event when 3.03 million SOL were moved, causing a significant 17% price reduction within one day.

According to CoinMarketCap, Solana’s current price is $151.69, with a market cap of $80.06 billion, indicating 2.41% market dominance. Recent price alterations include a 2.81% decline over 24 hours, a 4.96% dip in seven days, and a 9.08% fall over 30 days. Despite short-term declines, Solana has seen a 21.90% surge over 90 days.

Coincu’s research indicates that the systematic liquidation strategy could mitigate severe market repercussions. However, continued asset releases might foster regulated selling environments, contributing to market stabilization over long terms. CoinShares has taken notice of Solana’s dynamics, evidenced by their Solana ETF filing.