According to Bloomberg, the liquidators of the FTX exchange sold from 25 million to 30 million SOL worth about $1.9 billion. Interestingly, the coins were sold for $64 apiece, while the market price is $174.

We are talking about the sale of locked Solana coins, which will be unlocked in small quantities over 4 years. This explains the significant difference between the market price of Solana and the selling price from FTX wallets. FTX liquidators sold about 2/3 of the total number of SOLs owned by the company.

According to an anonymous source of the publication, many companies participated in the purchase of coins. For example, Galaxy Digital launched a special fund for $620 million to buy back coins from FTX. Neptune Digital also participated in the purchase, however, in this case the transaction amount was only $1.73 million.

Recall that during the FTX collapse, the cryptocurrency market was at its lowest point. Therefore, on the site for victims to file claims, the prices of cryptocurrencies differ significantly – the price for Bitcoin is $16,871, for Ether – $1,258, and for Solana – $16.24.

The Solana cryptocurrency fell by 10.5% over the week. If on April 1 SOL was trading at $195, now the coin price is $174.

FTX creditors are expected to receive their first payments by the end of 2024.