Key Takeaways
- •Alameda unstaked 194,861 SOL, valued at $25.5 million, as part of a regular monthly liquidation.
- •This action is conducted under court supervision as part of the FTX bankruptcy proceedings.
- •The estate still holds significant SOL stakes, with a structured approach to liquidation.
Alameda's Monthly Solana Unstake
Alameda Research, operating under U.S. court supervision within the FTX bankruptcy estate, has unstaked 194,861 SOL, a move valued at $25.5 million. This action is part of a routine monthly liquidation schedule designed to manage creditor repayments without causing significant market disruption.
This ongoing liquidation process impacts Solana holdings, introducing a predictable sell-side flow into the market. The FTX bankruptcy estate continues to manage its remaining Solana assets following the 2022 bankruptcy filing and the court's directive for asset management.
Predictable Liquidation Supports Investor Confidence
"The transfers occur in the context of ‘court-supervised liquidation … selling off the estate’s assets to repay the firm’s list of creditors,’" stated Alex Thorn, Head of Firmwide Research at Galaxy Digital. This structured approach aims to minimize market volatility.
The predictable nature of these monthly liquidations contributes to investor confidence in Solana, which has been recovering following the collapse of FTX. The estate's commitment to repaying creditors through a measured process is reiterated with each liquidation event.
Solana's market recuperation persists with the gradual unlocking and liquidation of SOL tokens. This systematic approach helps to manage the overhang risk associated with the large holdings.
Historical Context of Solana Unstaking
The current monthly unstaking is part of a broader trend. For instance, March 2025 saw a significant unstake of 3.03 million SOL, highlighting the scale and predictability of these releases. The estate continues to maintain a structured method for asset liquidation.
Historical trends indicate that this predictable sell-side flow, managed through systematic liquidation, contributes to market stability. The ongoing process is expected to reduce overhang risk for Solana as the estate progressively liquidates its assets.