Bankrupt cryptocurrency companies FTX and Alameda make savvy decisions when it comes to when to exit the market.
According to blockchain analytics platform Spot On Chain, liquidators from FTX and Alameda made profits by selling before the cryptocurrency market started to drop.
The individuals overseeing the liquidation process sent 2500 Ethereum (ETH) to the Coinbase exchange at an average of $3426 per unit. The Ethereum price subsequently dropped to below $3200 across the market.
Wallets belonging to FTX and Alameda have deposited 15,850 ETH to Coinbase at an average of $3659 per unit since March 1. Historical records show a downward trend in Ethereum price after these transactions.
