Sources familiar with the matter stated that the bankruptcy estate of the defunct crypto exchange FTX could be auctioning off a large part of its Solana holdings this week. This could potentially introduce some selling pressure on the Solana price which has recently resumed its upward trajectory.
FTX To Conduct A ‘Blind Auction’ for Solana
According to sources familiar with the process, a “blind auction” is scheduled for the next batch of Solana, with a Wednesday deadline and results to be announced on Thursday. FTX revealed in a recent monthly operating report that it sold approximately $307.6 million worth of SOL and ZBC tokens in March. It has yet to disclose the numbers for the month of April. However, a spokesperson for the estate declined to comment on the matter.
These sales are part of the aftermath of the unraveling of Sam Bankman-Fried’s FTX in November 2022. For buyers, these auctions present an opportunity to potentially profit from the volatile token, which has e
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