Bankrupt cryptocurrency exchange FTX suddenly moved $36 million worth of altcoins to major exchanges, according to on-chain data.
According to on-chain analytics firm Lookonchain, FTX transferred Huge amounts of Polygon (MATIC) and Avalanche (AVAX) are supplied to top cryptocurrency exchanges Coinbase and Binance.
“In the last 24 hours, FTX transferred a total of $36 million in assets to the exchange.
Deposited 12.6 million MATIC ($9.4 million) at Coinbase.
Deposited 10 million MATIC ($7.45 million) to Binance via FalconX.
Deposited 975,859 AVAX ($19.25 million) to Binance via FalconX.”
Polygon is trading at $0.78 at the time of this writing, up 5% in the last 24 hours. Meanwhile, Avalanche is trading at $21.09 at the time of this writing, up 4.2% in the last 24 hours.
FTX’s move is one of several bankruptcy decisions involving the defunct platform’s digital asset holdings.
Earlier this month, FTX asked a judge for permission to sell $744 million worth of Grayscale and Bitwise assets through its investment adviser.
As of October 28, Lookonchain had $78.7 million in assets transferred from the FTX bankruptcy estate, including the native coins of smart contract platforms Solana (SOL) and Ethereum (ETH), decentralized oracle networks Chainlink (LINK) and Band Protocol (LINK). was recorded. BAND), multi-chain platform Polygon.
FTX also staked a huge amount of Solana. According to blockchain explorer SolanaFM, addresses linked to FTX and trader Alameda Research generated 5,546,217.04 SOL token stakes last month.
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