Crypto wallets associated with the now-defunct crypto exchange FTX and its sister company Alameda Research have moved a significant amount of altcoins, sending a total of $13.1 million to various crypto exchanges overnight, on November 1.
Data provided by the on-chain analysis firm Spotonchain reveals an FTX wallet first transferred altcoins worth $8.12 million to the major US-based exchange Coinbase.
The assets involved in this transfer include 46.5 million of The Graph’s GRT, valued at $4.85 million, 972,073 Render (RNDR) tokens worth $2.3 million, and 708.1 of Maker’s MKR tokens valued at $967,000.
Subsequently, wallet addresses labelled as belonging to FTX and Alameda Research initiated another transfer, sending $5.49 million to Binance and Coinbase, three hours later.
The top three assets in this transaction, by value, are 1.14 million dYdX (DYDX) tokens worth $2.64 million, 192,888 Axie Infinity (AXS) tokens valued at $1.05 million, and 5,858 Aave (AAVE) tokens valued at $522,000.
Data collected by Spotonchain indicates that a total of $78 million worth of assets have been transferred from FTX and Alameda wallets to various cryptocurrency exchanges over the past week.
#FTX and #Alameda Research further deposited $5.49M worth of 6 assets $AAVE, $ALICE $AXS, #C98, $DYDX, $ZRX, to #Binance and #Coinbase ~30 mins ago.
Top 3 include:
1.14M $DYDX ($2.64M)
192,888 $AXS ($1.05M)
5,858 $AAVE ($522K)
Overall, #FTX and #Alameda Research have… https://twitter.com/spotonchain/status/1719519163100909975 pic.twitter.com/JPbIXZJPzv
— Spot On Chain (@spotonchain) November 1, 2023
The news follows a report from last week that $19 million worth of crypto had been sent from FTX to exchanges.
Back then, on-chain analytics firm Peckshield reported that around 470,000 SOL tokens, with a value of around $15.5 million, had been moved to different wallets, with some of the funds finding their way to wallets belonging to “CEXs like Binance.”
The court overseeing the FTX bankruptcy has allowed the estate to sell crypto worth north of $3 billion in weekly batches of around $50 million with the help of an investment advisor.
The weekly max selling cap is expected to increase to $100 million in the coming weeks, and can later be increased against to $200 million per week.