FTX/Alameda Transfers 58,964 SOL Tokens to Binance, Raising Market Concerns
On 5 March 2025, blockchain analytics firm Lookonchain reported that FTX/Alameda had transferred 58,964 Solana (SOL) tokens—valued at approximately $8.52 million—to the cryptocurrency exchange Binance. This transaction is part of a broader movement involving 3.03 million SOL tokens (worth $431.3 million) that FTX/Alameda recently unstaked. Market Implications: Increased Selling Pressure Concerns The substantial transfer of…