Over $1 billion worth of SOL is being unstaked by FTX/Alameda.
530K SOL ($71K) was unstaked in the last three months.
Monthly average of 176.7K SOL ($23.5M) transferred to multiple addresses.
FTX/Alameda still holds 7.06 million SOL ($945.7M) staked.
Over $1B in SOL Unstaked by FTX/Alameda
The significant move, FTX/Alameda is reportedly unstaking over $1 billion worth of Solana (SOL) tokens, as per Lookonchain’s recent reports. Over the past three months, the firm has unstaked a total of 530,000 SOL, which amounts to approximately $71,000. This activity has drawn attention due to the large sums of money involved and its potential impact on the SOL market.
Each month, FTX/Alameda unstakes an average of 176,700 SOL, which translates to around $23.5 million in market value. This unstaked SOL is then distributed across multiple addresses, hinting at a broader strategy at play. However, the reasons behind these massive transfers remain unclear, fueling speculation among investors and crypto enthusiasts alike.
Massive Stash Still Staked
Despite this significant movement, FTX/Alameda still has 7.06 million SOL tokens, worth around $945.7 million, locked in staking. This figure represents a substantial share of SOL holdings, and any further moves could potentially shift market dynamics.
The unstaking activity raises questions about FTX/Alameda’s future intentions, particularly in the context of the broader cryptocurrency market. With regulatory scrutiny and legal challenges still surrounding FTX, many are wondering if these actions signal preparations for liquidation or strategic reallocations.
Stay tuned as more unfolds in the coming months. The impact on the SOL market could be substantial if FTX/Alameda continues to unstake or transfer such significant amounts.
