FTX Derivatives Exchange has made a new token transfer transaction. Lookonchain data according to The bankrupt digital trading firm transferred approximately $36 million in assets with Polygon (MATIC) and Avalanche (AVAX) in the last 24 hours.
According to the information shared, the MATIC transfer took place in two parts, one deposited to Binance and the other deposited to Coinbase. The Coinbase transfer involved 12.6 million MATIC worth approximately $9.6 million, while the Binance transfer involved a total of 10 million MATIC worth $7.45 million.
In the past 24 hours, #FTX transferred a total of ~$36M assets to exchanges.
Deposited 12.6M $MATIC($9.4M) to #Coinbase;
Deposited 10M $MATIC ($7.45M) to #Binance via #FalconX;
Deposited 975,859 $AVAX ($19.25M) to #Binance via #FalconX. pic.twitter.com/pkcYg9kfcvNEWS CONTINUES BELOW— Lookonchain (@lookonchain) November 22, 2023
The Avalanche transfer was the largest transfer and involved a total of 975,859 AVAX worth $19.25 million to the Binance exchange. As Koinfinans.com reported, FTX has seen several changes in these fund movements in the last few months, especially since it received approval from the bankruptcy court to liquidate its assets. altcoin transaction took place.
Fund movement is particularly tied to potential liquidations, and although the amount involved is small, liquidation sentiment has had an impact on the MATIC and AVAX ecosystems, sending them down 4.4% to $0.762 and down 5.81% to $20.26, respectively.
The transfer underscores the exchange’s moves to eventually release additional funds that it can use to repay its creditors and possibly relaunch its trading platform through FTX 2.0.