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FTX Unstaked 3.96M SOL and Transferred 750K SOL; Community Expects Bearish Season

Published 11/07/2023, 01:32 AM
Updated 11/07/2023, 01:45 AM
FTX Unstaked 3.96M SOL and Transferred 750K SOL; Community Expects Bearish Season
SOL/USD
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  • Lookonchain reported that FTX unstaked 3.96 million SOL two days ago and transferred 750,000 SOL to Binance and Kraken.

  • The crypto community was expecting the sell pressure to increase in the future.

  • RSI formed a bearish crossover, making the altcoin’s price to produce two new red candlesticks.

Lookonchain, a market analytics platform, recently reported on X that FTX unstaked 3.96 million SOL two days ago and transferred 750,000 SOL to Binance and Kraken. At the time of reporting, Lookonchain estimated that the value of 750,000 SOL was approximately $30 million. It seems that the comment section was flooded with the crypto community anticipating sell pressure and the end of the bull season in the SOL market.

On November 3, Lookonchain also pointed out that FTX had transferred a total of 1.1 million SOL, valued at approximately $42.35 million. FTX also transferred 7,183 ETH, which was approximately $12.9 million. Overall, it wa…

The post FTX Unstaked 3.96M SOL and Transferred 750K SOL; Community Expects Bearish Season appeared first on Coin Edition.

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