Investing.com – FTX plans to sell locked SOL assets through an auction method amid continuing interest in Solana. Considering the unpredictable conditions of the crypto market and the significant value increase of SOL assets, FTX trustees indicated their intention to generate more revenue from Solana assets by deciding to use the auction method this time instead of direct sales, which they used previously.
FTX, successfully managing the bankruptcy process, had previously managed to sell SOL tokens worth $1.9 billion to leading companies in the industry such as Pantera Capital and Galaxy Digital. Despite the large-scale sales, SOL managed to remain stable in the market and maintained its upward trend.
The auction, announced by Figure Markets, aims to take advantage of this upward momentum. However, no information has been provided so far about the date and procedure of the auction.
Despite the recent downturn in Solana, it continues to maintain its trend!
The significant gains Solana has made since October last year, along with its overall upward trend, have been the primary factor behind FTX considering the auction method to dispose of its assets.
FTX was among the largest holders of SOL tokens until its bankruptcy, and SOL was one of the altcoins most affected by the collapse of the crypto exchange. Following the bankruptcy filing, the trustee appointed to FTX began asset sales to repay creditors. During this process, FTX sold about two-thirds of its locked Solana assets. These sales were made at an average price of $60, generating approximately $2.6 billion in revenue for the company.
