SOL price dropped 6 percent after FTX transferred 250 thousand tokens to Kraken. Technicals on SOL’s daily chart showed that the altcoin price may continue to fall in the coming days.
On-chain analysis platform Lookonchain shared in an X (formerly Twitter) post that FTX deposited 250 thousand Solana coins to Kraken. According to the post, the value of SOL tokens deposited was approximately $13.6 million.
FTX deposited 250K $SOL($13.6M) to #Kraken 7 hours ago.
Currently, FTX’s public addresses on #Solana only have 3,408 $SOL ($185K) left.https://t.co/A4CyCXgVzS pic.twitter.com/4EVtrwoYyX
— Lookonchain (@lookonchain) November 14, 2023
Lookonchain also added in the post that FTX currently has only an estimated 3,408 SOL tokens left, worth $185K. Meanwhile, Solana was listed as a trending token on CoinMarketCap today, but this was not interpreted as a positive picture of the token.
The decline in SOL price also caused it to lose approximately 5.60 percent against the market leader, Bitcoin. Solana’s 24-hour trading volume has settled at $2 million 972 billion at the time of writing, after rising more than 21 percent since yesterday, likely due to holders selling their tokens.
