FTX unstaked $31M in SOL, raising concerns amid a market surge and growing institutional interest in Solana.
On-chain data showed the exchange moved 189,851 SOL; opinions on the move vary among traders and analysts.
The timing of the transfer sparked a debate with some viewing it as routine unwinding of holdings, while others caution about potential short-term volatility.
FTX's asset management strategy is intertwined with its bankruptcy process, involving the redistribution of $5 billion in assets.