- Lookonchain shared today that FTX deposited SOL worth more than $13 million to Kraken.
- Over the past 24 hours, SOL’s price slipped by more than 6%, which left it trading hands at $54.42.
- Technicals on SOL’s daily chart suggest that the altcoin’s price could continue to drop in the coming days.
Earlier today, the on-chain analytics platform Lookonchain shared in an X (formerly Twitter) post that FTX has deposited 250K Solana (SOL) to Kraken. The deposited SOL tokens were worth about $13.6 million, according to the post.
FTX deposited 250K $SOL($13.6M) to #Kraken 7 hours ago.Currently, FTX’s public addresses on #Solana only have 3,408 $SOL ($185K) left.https://t.co/A4CyCXgVzS pic.twitter.com/4EVtrwoYyX
— Lookonchain (@lookonchain) November 14, 2023
Lookonchain also added in the post that FTX now only has an estimated 3,408 SOL tokens, worth $185K, left. Meanwhile, SOL ranked as a trending token on CoinMarketCap today, but certainly not for the reasons many traders may have been hoping for.
FTX’s SOL transfer was likely behind the altcoin’s more than 6% price drop recorded over the past 24 hours of trading. At press time, the Ethereum-killer …
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