FTX and Whales Are Flooding AVAX and These 6 Coins on Exchanges!

Recently, activity in wallets linked to FTX and large investors has attracted attention. FTX is probably transferring AVAX and some of its coins to exchanges for sale. Here are the details…

FTX address liquidates AVAX and MATIC

In a recent development, Scopescan monitoring revealed that the FTX liquidation address deposited a significant amount of 916,780 AVAX, equivalent to $20.7 million, to Binance via FalconX in the last 15 hours. Interestingly, this move coincided with a 13% drop in AVAX price over the same period. In a broader context, cryptocurrency exchange FTX, which is currently going through bankruptcy proceedings, continues to make significant repayments to creditors. Latest data from on-chain analytics platform Lookonchain reveals that FTX transferred a total of $36 million worth of Polygon (MATIC) and Avalanche (AVAX) to Binance and Coinbase on November 21.

The breakdown of transactions includes 12.6 million MATIC worth approximately $9.4 million sent to Coinbase and 10 million MATIC worth $7.4 million transferred to Binance via FalconX. Additionally, 975,859 AVAX worth $19.25 million went to Binance, also via FalconX. Cumulatively, FTX and Alameda transferred an impressive $474 million worth of assets to various exchanges. It is noteworthy that these transactions took place in the middle of an ongoing agreement between the USA and Binance.

Whales are taking action

Separately, there was whale activity in the cryptocurrency market. Because this shows that there is a strong appetite for altcoins. Notable transactions include the “0x9e74” whale wallet, which attracted 4,776 Maker (MKR) from Binance, worth approximately $6.9 million. Additionally, according to data analyst @ai_9684xtpa, on November 22, the whale address withdrew 2,000 ETH from Spark Protocol. He then immediately transferred it to Binance, transacting a total of approximately $3.95 million.

Another whale, “0xb6a7,” transferred 114,227 SSV Network (SSV) tokens worth $1.93 million and 2.77 million Coin98 (C98) tokens worth $476,000 from Binance to his wallet on November 22. This wallet also contains Optimism (OP) tokens worth $1 million. A newly opened wallet, “0xB4aE”, is in action. Specifically, it chose cryptocurrency exchange OKX to acquire 10 million RSS3 (RSS3) tokens worth approximately $1.44 million. Despite the high tension prevailing in the cryptocurrency market, these whale transactions are interpreted as indicators of confidence and a strong appetite for altcoins among major players. The market continues to witness dynamic movements driven by both institutional and individual investors.