FTX liquidators have recently locked up a substantial amount of ETH, MATIC, and SOL tokens, easing concerns about an impending market selloff.

The bankruptcy estate of the now-defunct FTX cryptocurrency exchange has signaled its intent to hold onto its crypto assets for an extended period as part of its efforts to compensate affected customers.

Over the past week, the estate has staked more than 24,100 ETH (approximately $38.1 million) and 17.88 million MATIC tokens (about $9.4 million). During the same timeframe, they reportedly also staked 5.5 million SOL tokens (around $122 million).

According to on-chain data from the blockchain analytics platform Arkham Intelligence, these deposits were made through addresses associated with both FTX and its sister company, Alameda Research. These addresses collectively hold $730 million worth of crypto assets at the current time.

The recent decision by the bankruptcy estate to engage in staking activities is seen as an effective strategy to maximize the value of its holdings. With an average yield of 4-6% on staking ETH, MATIC, and SOL, the estate can bolster its balance sheet. Additionally, it's capitalizing on yield generated from decentralized finance (DeFi) investments.

Staking and the transparency of on-chain data have helped alleviate concerns of a potential market selloff. Back in September, the FTX bankruptcy estate received court approval to liquidate approximately $3.4 billion in crypto assets held by the defunct exchange. This approval initially raised worries about a significant market downturn, despite the court implementing safeguards to minimize such an impact.

The recent staking activity by the bankruptcy estate reinforces its commitment to liquidating assets in a manner that doesn't negatively affect market dynamics. Furthermore, the transparency provided by blockchain technology allows market participants to closely monitor the estate's assets and respond to any substantial market-moving actions.