FTX's Cold Storage Witnesses $19M Token Transfer: Solana, COMP, ETH On The Move
Portfolio Pulse from Khyathi Dalal
FTX's cold storage has transferred over $19 million worth of SOL, COMP, and ETH tokens to various cryptocurrency exchange addresses. Around 470,000 SOL (worth $15 million) moved to wallets at exchanges like Binance and Coinbase Global Inc (NASDAQ:COIN). An Ethereum-based FTX-linked wallet transferred $2.5 million worth of various tokens to the Binance deposit address of Wintermute Trading. These transfers come amid recent price surges across the crypto board.
October 26, 2023 | 6:31 pm
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POSITIVE IMPACT
Coinbase Global Inc (NASDAQ:COIN) is one of the exchanges where FTX's cold storage has transferred tokens. This could potentially increase the volume of transactions on Coinbase.
The transfer of tokens from FTX's cold storage to Coinbase could potentially increase the volume of transactions on Coinbase, which could have a positive impact on its revenues and, consequently, its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEUTRAL IMPACT
ETH is one of the tokens transferred from FTX's cold storage. This could potentially affect the price of ETH.
The transfer of ETH tokens from FTX's cold storage could potentially affect the price of ETH. However, the impact is uncertain as it depends on various factors such as the overall market conditions and investor sentiment.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
SOL is one of the tokens transferred from FTX's cold storage. This could potentially affect the price of SOL.
The transfer of SOL tokens from FTX's cold storage could potentially affect the price of SOL. However, the impact is uncertain as it depends on various factors such as the overall market conditions and investor sentiment.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50