Messari posted on social media that FTX liquidators hold approximately $1.3 billion in liquid crypto assets (excluding stablecoins).
The relevant number is not the absolute value of the token held, but its amount relative to the active trading volume of each asset.
For example, FTX/Alameda’s BTC holdings ($353 million) represent approximately 1% of BTC’s weekly trading volume, which means that the market can absorb most of the sell-off, and the same is true for ETH.
However, for less liquid assets such as DOGE, TRX, and MATIC, the amount held by FTX accounts for 6-12% of the weekly trading volume, which has a much greater impact on the market.
While SOL and APT have considerable dollar value and relative market capacity, these assets are held by Alameda and venture capital investors and are primarily composed of vested tokens that are not immediately liquid on the open market.
Only 9.2 million SOL is unlocked each month, which significantly reduces the liquidation impact, making it more manageable similar to BTC and ETH liquidations.