Solana News: Alameda Research Unstakes $23M in SOL, Market Remains Unaffected

Recent developments in the Solana ecosystem have sparked interest among investors, particularly regarding the actions of prominent crypto firm Alameda Research. Here’s a closer look at the latest news surrounding Solana and its potential implications for the market.

Alameda Research Unstakes $23M in Solana – Potential SOL Sell-Off?

Alameda Research has unstaked $23 million worth of Solana (SOL), distributing it to 38 addresses linked to FTX. On-chain data confirms these addresses, which have historically transferred SOL to major exchanges like Coinbase and Binance, now hold approximately $178.82 million in SOL. Despite the substantial movement of funds, Solana’s price remains largely unaffected. Since the FTX collapse, Alameda has consistently shuffled large amounts of crypto assets, moving over $1 billion worth of SOL to exchanges.

Solaxy To Boost Solana With Layer-2, Presale Nears $26M

While Bitcoin has climbed back above the $80K mark, investors are turning their attention to Solaxy ($SOLX), a revolutionary project tackling Solana’s transaction congestion issue. Solana often faces transaction speed clogs during peak times, but Solaxy aims to fix this by introducing a unique layer-2 solution, offloading transactions and reducing strain on the network. Solana currently processes up to 6,500 transactions per second but struggles during peak demand periods. Solaxy’s layer-2 innovation could transform SOL by addressing this critical weakness.

Solana Community Raises Concerns Over High Centralization Risk in Proposed Upgrade

A section of the Solana community has criticized the SIMD-228 proposal, stating that it poses a high centralization risk. The proposal aims to reduce the asset inflation rate by 80% by transitioning from a fixed-rate token emission to a market-based model. This has sparked mixed views in the digital asset space, with some validators expressing concern that the move will favor larger validators, leading to high centralization. At the time of writing, proponents have secured the necessary quorum (71.85%) in favor of the proposal.

Argentine Lawyer Seeks Interpol Red Notice for Hayden Davis Linked to Libra Memecoin Collapse

Argentine lawyer Gregorio Dalbon has reportedly called on Interpol to issue a Red Notice for crypto entrepreneur Hayden Davis, linking him to the collapse of the Solana-based Libra memecoin. Davis, the CEO of Kelsier Ventures, was a central figure behind the controversial token whose market capitalization plunged by more than $4 billion amid accusations of a pump-and-dump scheme. Reports suggest that Davis and other key figures amassed more than $107 million before the project imploded. Davis has publicly defended himself in an interview, but the controversy continues as he is also alleged to have claimed political influence over Argentine President Javier Milei.