Alameda’s Solana Unlock Sparks Fear of New Sell-Off

Solana continues to struggle in a sluggish market. The SOL price now trades below $160, despite solid ETF inflows in recent days. Analysts are watching how much of this weakness ties back to renewed supply pressure from the latest Alameda Research unlock.

According to MartyParty, the most recent $SOL unlock occurred on November 11, 2025, releasing around 193,000 SOL worth roughly $30 million. These tokens are part of the ongoing bankruptcy proceedings involving the FTX and Alameda Research estates. The estate continues to receive monthly vested tokens from pre-2021 deals, with each batch typically unstaked and partially transferred to exchanges like Coinbase and Binance for liquidation.

Total Supply Released by FTX/Alameda Estate

Since November 2023, the FTX/Alameda estate has unlocked between 8 and 9 million SOL, valued at more than $1 billion. The unlocks started small but ramped up through 2024 and 2025. The biggest event came in March 2025, when over 11.2 million SOL worth nearly $2 billion was released in one of the largest claim transfers, reportedly involving firms like Galaxy and Pantera.

Now, about 5 million SOL remains locked, estimated between $600 million and $1 billion, depending on price. These smaller monthly releases are expected to continue into 2026 and beyond, gradually reducing the estate’s total holdings.

Trader Concerns Regarding Solana Unlocks

Even though these unlocks aren’t new emissions, they add liquid supply to the market when transferred to exchanges. Traders see this as potential short-term sell pressure. Each mid-month unlock has historically coincided with small dips or pauses in Solana’s upward momentum.

The broader market context doesn’t help. Bitcoin is consolidating under resistance, and most altcoins remain flat or in mild correction. ETF inflows for Solana have been surprisingly steady, which shows strong institutional interest. However, that demand isn’t yet strong enough to absorb new liquid supply without price impact.

Potential Impact on Solana's Price

The market’s concern is less about the single $30 million release and more about the steady, predictable selling pattern. Every month adds another round of potential supply. Until those distributions end, Solana’s price may struggle to build momentum during weaker market conditions.

Despite this, Solana still shows strong fundamentals — high network activity, rising TVL, and continued developer growth. Once the bankruptcy-related supply clears, it could remove one of the last major overhangs on Solana’s long-term trend.

For now, the market watches whether this month’s unlock triggers another brief sell-off or if buyers finally step in to defend the $150–$155 zone.