This transfer operation created a lot of movement in the crypto world. Approximately 2.2 million dollars worth of LINK, 1 million dollars worth of AAVE, 2 million dollars worth of MKR and 3.4 million dollars worth of ETH were first sent to an account starting with 0xde9 and then redirected to a Binance address.

Unfortunately, there is no clear information about the exact purpose of this transaction, but Nansen said that this major transfer could indicate a possible sale. FTX will carry out the tokens to be sold on Binance exchange through a market-making company called Wintermute .

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Additionally, Lookonchain reports that FTX’s cold wallets have transferred approximately 15 million dollars worth of SOL in the past 24 hours. Of this transfer, 8.1 million dollars went to other exchanges, while 5.5 million dollars found their way to Binance. This shows that FTX may have sold large amounts of SOL recently. Therefore, various speculations are circulating about these sales transactions and they may well be true.

After the bankruptcy of FTX, the court had imposed a weekly limit of 100 million dollars for FTX token sales. However, subsequent orders could increase this limit to 200 million dollars. Such events have the potential to exert significant downward pressure on the crypto market. Therefore, market participants are approaching with great caution and anxiety due to a possible oversupply.

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