Posted 11/6/2023, 9:11:00 AM
FTX Estate Sells $102M in Solana As Price Drops 15% on SEC Concerns and Selling Pressure
- FTX estate moved $30M in Solana (SOL) to Binance and Kraken, potentially ahead of a sale
- So far, FTX estate has moved $102M in SOL to exchanges, which may put selling pressure on token
- SOL is largest asset on FTX balance sheet at over $1.16B
- Price dropped 15% from 14-month high as rally loses momentum amid looming sell pressure
- SEC previously alleged Solana was an unregistered security, though market remained stable after pushback