Alameda’s SOL Unstaking Spree Continues: $17 Million Move Fuels FTX Estate Payments

A major warning signal flashed across crypto markets Thursday as Alameda Research unstaked another 197,637 SOL—worth approximately $17 million—in a move directly tied to FTX bankruptcy proceedings. The latest transaction, flagged by Arkham Intelligence, confirms the trading firm's ongoing liquidation of staked assets to fulfill monthly creditor obligations, injecting significant sell-side pressure into the Solana ecosystem.

The move is part of the routine monthly distribution process that has been ongoing since the collapse of FTX in late 2022. These transfers allow administrators to gradually repay creditors using digital assets still held by Alameda Research.

What is Alameda and Why It’s Doing So?

Alameda Research is a crypto trading firm and hedge fund with an early large investor in Solana, that was closely linked to the FTX exchange. Following the 2022 FTX collapse, Alamedas’ assets were placed under a court-supervised bankruptcy process to repay creditors. 

According to Arkham’s on-chain data, the research platform still holds about 3.75 million $SOLs, valued near $321 million,  within a total on-chain portfolio of $405–$410 million, making it one of the largest remaining holders of the token.

Possible Price Impact on Solana

The $SOL unstaking event comes at a time when Solana trades near $86.8 (up 2.8%), with a market capitalization close to $49.5 billion and daily trading volume above $4 billion.

The Alameda SOL Unstaking amount represents only about 0.035% of Solana’s circulating supply and less than 0.5% of daily trading volume. This suggests the market can likely absorb the new supply without major disruption.

Previous monthly distributions ranging from $15M to $35M have often led to minor price fluctuations or short-term dips of 2–5%, but they rarely caused long-term damage to the marketplace.

A Long-Term Overhang Remains

While this event is relatively small, the FTX-linked platform’s remaining $321M solana reserve continues to act as a slow supply overhang. The tokens are expected to enter the market gradually through the bankruptcy process rather than through a single large sale.

For now, the latest  SOL Unstaking is viewed as routine bankruptcy mechanics rather than a surprise market shock. SOL’s price will likely remain more influenced by broader crypto market sentiment and ecosystem growth than by these scheduled distributions.

This article is for informational purposes only and does not constitute financial or investment advice.