FTX Relocates $32M Solana, Elevating SOL Price Up 10%

Keeping up with Solana’s shine: FTX’s $32M relocation pushes SOL price up 10%.

Hand moving solana coins down a technology portal.
Created by Kornelija Poderskytė from DailyCoin
  • FTX estate account appears in two unusual on-chain transactions this Friday.
  • Solana shoots up to claim new yearly heights, boosted by memecoin BONK.
  • Solana’s SAGA Web3 phone causes a shopping binge in the United States.

An FTX estate-linked wallet has been moving again, contributing to another day in the green for Solana (SOL). The thriving Layer-1 blockchain has upped the ante this year for competing altcoins, soaring 444% in the last 365 days.

Despite getting caught up in the FTX settlement drama, Solana rose to a fresh yearly high on Friday, December 15. SOL reached $79.21 a few hours after Whale Alert, an on-chain whale tracking agency, detected two consecutive SOL transfers in the millions.


An unrecognized wallet shuffled 280,065 SOL, worth $21,292,483 at stamped transfer time. While the wallet’s token line-up is concealed, the blockchain records show that FTX estate is at the receiving end. Around three minutes later, 136,971 SOL were sent from FTX estate’s wallet to another unrecognized wallet on Solana’s Layer-1 chain.

Solana Phone Sells Out Amid BONK’s Parabolic Run

While large transactions on Solana are approaching $3 billion, that’s not the only reason for Solana’s thriving ecosystem. Solana’s SAGA phones have gone from a miss to a smash hit, as they have been sold out in the United States today.

The uncontrollable buying spree happened not just because of excitement over Solana’s Web3 dApps but also because of pure calculation. Solana Mobile issues a promo airdrop of the emerging memecoin Bonk (BONK), which can land a whopping 30 million $BONK coins for every new phone owner.

According to the current calculations, that’s around $846, when the US price for Solana SAGA phone is less than that – $599. Bonk took flight with over 1,000% gains in the last 30 days, forcing PEPE to step aside as the third largest memecurrency.


Crypto enthusiasts on Twitter also assert that the inclusion in future airdrops is another key factor that drove the American crypto aficionados to sweep the market shelves.

On the Flipside

  • Large transactions like the $32 million Solana shift by FTX estate can also cause hefty price drops. To illustrate, Solana dipped 7.6% on November 14, 2023, when FTX moved $13.54 million worth of $SOL to Binance and Wintermute.

Why This Matters

Solana is the best-performing large market-cap cryptocurrency in Q4 of 2023. The Solana ecosystem’s expansion heavily contributes to the mass adoption of blockchain technology.

Explore DailyCoin’s top crypto news:
Shiba Inu Price Primed for Bullish Breakout on One Condition
SEC Gensler Stirs ETF Approval Hopes with Dovish Remarks

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.