The wallet belonging to FTX transferred $7.9 million worth of BOBA tokens to the Coinbase Prime account. Previously, $4.3 million worth of BOBA tokens from Alameda Research was located at the same address. Investors are closely monitoring the situation due to concerns that possible large sales could put pressure on prices.

According to Arkham Intelligence's on-chain data dated June 26, 2025, FTX's wallet in the liquidation process sent a total of $7.9 million worth of BOBA tokens to Coinbase Prime in a single transaction. Previous records showed the entry of $4.3 million worth of BOBA tokens from Alameda Research to the same account. Thus, FTX and Alameda connected tokens were consolidated into a single account. This movement has brought back to the agenda the asset transfer and conversion to liquidity process accelerated by court-appointed trustees in recent months. Investors are particularly vigilant against potential selling pressure that may increase in low liquidity altcoins.

The on-chain report shared by Arkham reveals that the FTX wallet transferred a total of 31.4 million BOBA tokens to the Coinbase Prime account in a single transaction on the evening of June 26. It is known that this Coinbase account previously received 17.1 million BOBA from addresses belonging to Alameda Research. With the last transfer, the total balance increased to 48.5 million BOBA. It is expected that this large asset, consolidated at a single address, will be sold in blocks in the coming periods, and this situation is being monitored sensitively in the market.

It was determined by on-chain data that the transaction occurred just minutes before the end of the business day in New York time. It is thought that the trustees prefer low trading volume time slots to minimize possible negative effects on prices. The price of BOBA dropped about 4% in the first minutes after the transfer but recovered quickly. Experts indicate that this transfer, which has not yet turned into a sale, points to an excess supply in the market.

Selling Pressure and Market Dynamics

FTX entered a liquidation process after the bankruptcy that occurred in 2022 and has been selling its crypto assets worth hundreds of millions of dollars in parts to provide payments to creditors. The trustees have released many tokens into the market so far, from Solana to Aptos. Despite its relatively small volume, BOBA is considered to be in a high-risk group because 78% of its supply is under FTX-Alameda control.

Experts state that the gradual sale of BOBA tokens transferred to Coinbase Prime will limit the negative impact on prices. However, there are warnings that bulk sales could lead to sudden price gaps. Additionally, it is reminded that FTX creditors are trying to hedge their assets with futures to minimize potential value losses.


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