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A substantial transfer of Solana 
$166 (SOL) tokens has been executed connected to the FTX Derivatives Exchange and Alameda Research wallets. According to data from Arkham Intelligence, a total of 3,033,000 SOL was transferred, with a market value estimated at around $430 million. This significant movement led to considerable price fluctuations for Solana, as market expectations suggest that FTX may liquidate these assets.
Details of FTX’s 3 Million SOL Transfer
The transfer was completed in two stages. In the first phase, 1,928,763 SOL was sent, followed by an additional 1,102,953 SOL in the second phase. Although the exact source of the transfer remains unclear, it is believed to have been organized by FTX Estate.
Blockchain records indicate that the transactions were carried out at block height 324383268. Notably, this transfer was completed with a very low transaction fee. Researchers continue to analyze the purpose and potential impacts of this transfer in detail.
Solana Price Drops After the Transfer
FTX Estate plans to conduct a significant sale of SOL for creditor payments. This initiative has been perceived negatively by the market, leading to a decline in Solana’s price. In the past 24 hours, SOL fell by 19.46%, bringing it down to $140.88.
Market volatility has continued to fluctuate daily between $178.63 and $139.43. This development has raised concerns among Solana holders and traders. However, some market observers believe that substantial investment funds focused on Solana and potential ETF applications could aid in a price recovery.
Among market expectations for Solana, there are also optimistic forecasts. VanEck suggests that the price of Solana could rise to $520 by 2025. Nevertheless, volatility in the cryptocurrency market may persist, and assets held by FTX could continue to trigger major price fluctuations.
