FTX liquidation wallet becomes a falling indicator? Deposit 2500 ETH into the exchange Coinbase before the crash

This site (120bTC.coM): The restructuring team of bankrupt cryptocurrency exchange FTX has recently continued to sell off crypto assets to raise cash to repay creditors. The community is concerned about the potential market volatility caused by the liquidation of former giants.

On-chain data monitoring account SpotOnChain tweeted this morning (13th) that FTX/Alameda’s liquidation wallet address deposited approximately 2,500 ETH at a price of approximately US$3,426 at around 12:00 this morning. Coinbase exchange is suspected of selling assets.

"Just 8 hours ago, they deposited 2,500 ETH ($8.56 million) into Coinbase for ~$3,426, just before the latest plunge!"

Since March, FTX and Alameda have deposited nearly 16,000 ETH into the exchange

SpotOnChain continued to point out that since March 1, FTX and Alameda have deposited nearly 16,000 ETH into the exchange at a price of approximately $3,659 , transferring 15,850 ETH ($58 million) to CEX, and then the price of ETH often changes drastically. The current team of FTX was also praised as having "know-how" about the timing of opting out.

According to data, there are about 7,855 ETH and 14,570 WETH in the FTX/Alameda liquidation wallet. It is expected that they will be sold off one after another to pay off debts, which may put considerable pressure on the price of ETH.

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