FTX/Alameda unstaked 200,241 SOL worth approximately $12.99 million, a move flagged by on-chain tracking accounts and visible on the Solana blockchain explorer.
The unstaking event was flagged by OnchainLens on X, drawing attention to continued large-scale token movements from wallets associated with the collapsed exchange and its trading arm.
On-chain records on Solscan show activity tied to the wallet address H4yiPhdSsmSMJTznXzmZvdqWuhxDRzzkoQMEWXZ6agFZ, which has been linked to FTX/Alameda holdings.
TLDR Keypoints
- FTX/Alameda unstaked 200,241 SOL valued at roughly $12.99 million.
- Unstaking does not equal selling; the tokens are now liquid but have not been confirmed as moved to an exchange.
- The activity follows a pattern of prior Alameda SOL movements, including a $16 million SOL transfer reported in April tied to possible creditor distributions.
What the Unstake Means, and What It Does Not
Unstaking SOL initiates a cooldown period after which the tokens become fully liquid. It is a prerequisite for transferring or selling, but the unstake itself is not a sale.
FTX/Alameda remains one of the largest holders of SOL from its pre-collapse treasury. Movements from these wallets attract attention because any large liquidation could add sell-side pressure to Solana’s market. The entity’s ongoing regulatory environment and bankruptcy proceedings add further sensitivity to each transaction.
This latest unstake follows earlier activity where Alameda moved approximately $16 million in SOL tokens, which CoinDesk reported was potentially linked to creditor distribution efforts. That pattern suggests these movements may be procedural rather than speculative.
What to Watch Next
The key signal is whether the unstaked SOL moves to a centralized exchange wallet. On-chain watchers can monitor the associated Solscan address for outbound transfers in the coming days.
If the tokens are routed to exchanges, it could indicate preparation for a sale, similar to how large institutional holders have tested liquidation processes in recent months. If the tokens move to a new cold wallet or custodian, the more likely explanation is creditor-related redistribution.
Broader SOL market reaction will also matter. Large unstakes from known entities can shift sentiment even before any tokens are sold, particularly when the source is as closely watched as FTX/Alameda. Traders tracking exchange deposit activity and order book depth on major SOL pairs will have the earliest read on whether this unstake translates into actual selling pressure.
ON-CHAIN DATA
- Wallet: H4yiPh…6agFZ
- Amount unstaked: 200,241 SOL (~$12.99M)
- Network: Solana
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.