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FTX Unstaked 3.96M SOL and Transferred 750K SOL; Community Expects Bearish Season 4m ago by coinedition.com

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Lookonchain reported that  FTX unstaked 3.96 million SOL two days ago and transferred 750,000 SOL to Binance and Kraken.

The crypto community was expecting the sell pressure to increase in the future.

RSI formed a bearish crossover, making the altcoin’s price to produce two new red candlesticks.

Lookonchain, a market analytics platform, recently reported on X that FTX unstaked 3.96 million SOL two days ago and transferred 750,000 SOL to Binance and Kraken. At the time of reporting, Lookonchain estimated that the value of 750,000 SOL was approximately $30 million. It seems that the comment section was flooded with the crypto community anticipating sell pressure and the end of the bull season in the SOL market.

FTX unstaked 3.96M $SOL($160M) 2 days ago and transferred 750K $SOL($30M) to #Binance and #Kraken 4 hours ago.https://t.co/A4CyCXgVzShttps://t.co/92ItXxxoB4 pic.twitter.com/4gxmwxzdIL

— Lookonchain (@lookonchain) November 6, 2023

On November 3, Lookonchain also pointed out that FTX had transferred a total of 1.1 million SOL, valued at approximately $42.35 million. FTX also transferred 7,183 ETH, which was approximately $12.9 million. Overall, it wa…

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