The FTX estate has reportedly staked 5.5 million Solana (SOL), worth $122 million. This development comes amidst fears of the defunct crypto exchange liquidating a substantial portion of its SOL holdings and inducing a bearish trend. FTX Renews Bullish Interest In Solana With Latest Move On October 14, blockchain tracking platform Whale Alert reported that 5.5 million SOL had been transferred between two unknown wallets. Thereafter, a crypto analyst with the X username ashpool soon identified the FTX exchange to be behind this whale transaction. Using data from gelato.sh, ashpool revealed that the FTX exchange had delegated the said 5.5 million SOL to the Figment staking service, an active validator on the Solana network. In September, the management of the bankrupt crypto exchange obtained court approval to liquidate its crypto holdings, valued at $3.4 billion, as they look to pay off their creditors. Solana accounts for the largest part of FTX’s crypto assets, with the exchange reportedly owning 55.8 million SOL, worth $1.16 billion. However, the majority of this SOL are currently staked, with FTX reportedly having access to 7 million SOL as o ..
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