Solana And The Company That Holds These Coins Are Selling Those 3 Altcoins!

With over 40 cryptocurrencies in its portfolio including Solana (SOL), Uniswap (UNI), 1inch (1INCH), Alameda Research is selling $200 million worth of stablecoins. Here are the details…

Alameda sells $200 million worth of stablecoins

Reports revealed that FTX’s sister company, Alameda Research, sold $284 million worth of stablecoins to crypto exchanges mid-October 31 and mid-November 2. The market maker sold USDT worth $168 million to FTX. It sold 66 million USDP to Binance and 50 million USDC to Circle. The big breakouts came before the Federal Open Market Committee (FOMC) meeting. Koindeks.comAs we have also announced, as a result of the FOMC meeting, interest rates increased by 0.75 basis points.

FTX’s (FTT) token makes up the majority of Alameda Research’s crypto assets. According to the report, Alameda owns roughly $5.82 billion worth of FTT tokens. The trading firm has $3.66 billion in “unlocked FTT” and $2.16 billion in “FTT collateral.” The firm also has a $292 million “locked FTT” in the middle of its $8 billion liabilities.

In the report, it was stated that Alameda also owns a valuable Solana (SOL) token. The crypto trading firm has $292 million in “unlocked SOL”, $863 million in “locked SOL” and $41 million in “SOL collateral”. In the middle, Alameda explained in its statement that the prices of locked tokens should be treated “conservatively by 50 percent of the fair value in the FTX/USD ledger.” So, according to this explanation, the price of the coins may be much lower.

40 cryptocurrencies in portfolio including Solana

Alameda Research holds many cryptocurrencies in its portfolio as it is defined as a liquidity provider. In addition, the company, which manages assets of over $ 1 billion, invests in many projects. Alameda performs its market maker duty in many exchanges. Although the value of the cryptocurrencies held by the company changes from time to time, according to the latest information provided by Messari, the following cryptos are in the company’s portfolio:

ETH, BNB, SOL, SRM, TOMO, DODO, UNI, AAVE, FTT, LEO, YFI, OKB, CRV, PERP, SXP, REN, 1INCH, ALPHA, LINA, BAL, HXRO, RAMP, COMP, HT, SUSHI, SNX, AMPL, AMPL, PICKLE, OPIUM, HGET, LINA CREAM, AKRO, ROOK, FRONT, BAO, APY, DHT, MTA

Some arguments have been put forward for Alameda

Meanwhile, various theses have surfaced to Alameda Research about the top cryptocurrencies that it turns out to be selling. Many people point to locked coins in particular, noting that many of the trading firm’s assets are illiquid. In particular, the fact that many of these assets are in FTT makes the situation worse. Because this may indicate that the company was built on “shaky ground”.

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