Alameda Unstakes $17M in Solana as Creditor Liquidations Resume - Market Braces for Impact

Alameda Research has initiated the unstaking of approximately $17 million in SOL tokens, transferring the assets to bankruptcy-controlled accounts in a move signaling renewed creditor liquidations. The sudden movement from the defunct trading giant's wallets has triggered immediate market concern, with analysts warning the release of such a significant Solana position could pressure prices as the estate systematically distributes recovered funds. This action marks a critical phase in the FTX/Alameda bankruptcy proceedings, potentially unleashing substantial sell-side pressure on one of crypto's top-performing assets.

Alameda’s Remaining Solana Holdings Continue to Draw Market Attention

Despite the recent $17 million unstaking event, Alameda Research still holds a substantial amount of Solana in its on-chain wallets. Current blockchain data indicates that the bankrupt trading firm retains roughly $321 million worth of SOL, making it one of the largest known holders of the asset tied to the FTX estate. Because these tokens remain under bankruptcy management, market participants closely monitor any movements from these wallets.

The presence of such a large balance introduces a persistent element of potential supply overhang. As bankruptcy administrators continue distributing assets to creditors, portions of these holdings may periodically enter the market. This process does not necessarily translate into immediate selling pressure, but it can influence trader sentiment because investors often anticipate that distributed tokens could eventually be liquidated.

At the same time, Solana’s broader market structure reflects the cautious environment affecting the cryptocurrency sector. Like many large-cap altcoins, SOL has been trading in a consolidation phase following periods of volatility across the digital asset market. Liquidity remains selective, and investors are increasingly focused on assets with strong ecosystem activity and sustained network usage.

For Solana, this environment creates a mixed dynamic. While ongoing creditor distributions represent a potential supply factor, the network continues to maintain high on-chain activity and developer engagement, which remain key drivers supporting long-term interest in the asset.

Solana Stabilizes After Sharp Correction

The chart shows Solana trading around the $86 level after experiencing a significant corrective phase that began in late 2025. Earlier in the cycle, SOL reached highs above the $240 region before momentum weakened and the asset entered a prolonged downtrend characterized by consistent lower highs and lower lows.

From a technical perspective, Solana remains under pressure as price continues to trade below its key moving averages. The short-term trend indicator has been trending downward for several months, while the medium-term and long-term moving averages remain positioned well above the current price. This configuration typically reflects a market that is still in a broader corrective structure.

The most aggressive move occurred in early February 2026, when SOL experienced a sharp sell-off that pushed the price briefly below the $80 level. The drop was accompanied by a strong surge in trading volume, suggesting heightened market stress and possible liquidation activity.

Following that decline, however, Solana has begun to stabilize. Price action is currently consolidating within a relatively narrow range between roughly $80 and $92, indicating that buyers are attempting to defend the lower support zone.

For the moment, the $80 region appears to be acting as a key support level, while the $100 area represents the first major resistance barrier for any potential recovery attempt.

Featured image from ChatGPT, chart from TradingView.com