Alameda Research FTX estate transferred 91.69K SOL (~$7.08M) from custody to Coinbase Prime for sale, following a 201K SOL deposit the prior day.
Macro & Markets ·
The Alameda Research FTX estate has moved 91.69K SOL worth approximately $7.08M from BitGo custody to Coinbase Prime, signaling an intent to sell the tokens. This action follows a prior-day deposit of 201K SOL (roughly $15.14M) into BitGo custody, which was completed across multiple transactions distributed to several BitGo addresses within minutes.
The sequence suggests a deliberate repositioning of Solana holdings within the estate's liquidation strategy. The transfer to Coinbase Prime—an exchange custody service—typically precedes market sales, whereas movement into BitGo custody the prior day had consolidated the tokens across multiple addresses.
It remains unclear whether these sales are part of a scheduled estate liquidation plan, how they may affect Solana's price, or what fraction of total SOL holdings these transfers represent. The timing and volume of future sales by the estate have not been disclosed.