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A significant Solana transfer was been discovered by the cryptocurrency data tracker Whale Alert. According to the report, 7,981,517 SOL, worth $184,488,088 total, were moved across wallets.
It may be exchanges or whales shifting their wallets.
SOL was trading at $23.20 at the time of publishing, up slightly over the previous day. As a result of its affiliation with FTX, Solana’s SOL saw a steady fall in price until making a comeback in 2023.
In November, a blog post by the Solana Foundation stated that 58,086,686 SOL tokens have been exchanged between FTX, Alameda, the Solana Foundation, and Solana Labs.
According to the Solana Foundation’s disclosure on FTX.com, as of November 6, it has less than $1 million in cash and cash equivalents.
FTX and sibling business Alameda Research showed support for Solana by buying a large quantity of SOL tokens from the nonprofit Solana Foundation, which supports the blockchain’s development.
Alameda Research is reportedly embroiled in bankruptcy proceedings, although addresses related to it are still actively registering transactions.
The management of the insolvent corporation is currently focused on recouping all funds associated with the exchange and its subsidiaries in order to pay off all of its creditors.