FTX, which has these 16 Altcoins in its basket, started selling 3 coins!

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The latest developments regarding FTX/Alameda attracted attention by putting the important movements of cryptocurrencies under the spotlight. In particular, the sale of two altcoin projects caused concern about other altcoins in FTX’s basket. Because a sudden selling movement may reduce the price of the altcoin in question. Here are the details…

Lookonchain: FTX sells these altcoin projects

Cryptocurrencies were shaken when Lookonchain’s Twitter account raised questions about FTX/Alameda’s asset-accepting wallets. According to their analysis, a significant amount of assets “0xde9A” including 2,904 ETH ($5.18 million), 1,341 MKR ($2.02 million), 11,974 AAVE ($1.03 million), and 198,804 LINK ($2.26 million). ” transferred to Binance and Coinbase via wallet. These transfers totaled $10.49 million. The tweet also highlighted current sales in which FTX/Alameda sold 974,270 RNDR ($2 million) and 21,967 COMP ($995,000), bringing the total to $13.5 million in assets.

The numbers are remarkable indeed, but they become even more intriguing when considering FTX/Alameda’s massive crypto holdings, which Lookonchain reports are around $3.4 billion. Assets include notable assets such as SOL at $1.162 billion, BTC at $560 million, ETH at $192 million, and APT at $137 million. This cryptocurrency wealth has undoubtedly made FTX/Alameda a major player in the industry. The full list is as follows:

  1. $1.16 billion SOL
  2. $560 million BTC
  3. $192 million ETH
  4. $137 million APT
  5. $120 million USDT
  6. $119 million XRP
  7. $49 million BIT
  8. $46 million STG
  9. $41 million WBTC
  10. $37 million WETH
  11. $362 million SRM
  12. $309 million MAPS
  13. $164 million OXY
  14. $72 million MEDIA
  15. 51 million dollar FIDA
  16. $28 million BRZ

This is how FTX sells

In terms of liquidity, FTX is preparing to sell assets in a series of weekly batches, starting with an initial limit of $50 million for the first week and $100 million for subsequent weeks. However, it is worth noting that BTC and ETH can only be sold after a 10-day notice to the committee of creditors, the interim committee, and the US trustee. These details provide a glimpse into the complex strategies surrounding asset management in the crypto space.

PeckShield drew attention to Solana transfers

On the other hand, PeckShield also closely monitors the movements of FTX-related addresses. Their data revealed that approximately 470,000 SOLs, equivalent to approximately $15 million, were transferred from an address in Solana labeled “FTX Cold Storage.” Some of these SOL assets went to centralized exchanges (CEX), underlining the importance of this transfer. Additionally, FTX-related addresses transferred 1,393 ETH to Coinbase, worth approximately $2.5 million in total.

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