FTX and Alameda Research are continuing their asset liquidation efforts, having unstaked 192,000 SOL worth $44.9 million. This forms part of their regular monthly pattern.
Total Amount and SOL Redemption
FTX and Alameda have unstaked 192,000 SOL tokens equivalent to approximately $44.9 million. Since November 2023, the firms have redeemed a total of 8.98 million SOL worth nearly $1.2 billion. The average redemption price stands around $134 per token, indicating strategic liquidation timing during market highs.
Clear Pattern Since November 2023
This latest unstaking of 192K SOL fits perfectly into a well-documented trend. Each month since November 2023, FTX and Alameda have unstaked and sold large amounts of SOL, sticking to a schedule that appears designed to minimize market disruption while maximizing recovery value.
Market Watching Amid Liquidations
The crypto community is closely monitoring these developments, given their potential impact on Solana’s price in the short term. However, due to the predictable nature of these monthly liquidations, the impact has so far been relatively contained. Further unstaking events are expected in the coming months unless there is a change in legal or financial strategy.
In conclusion, the actions of FTX and Alameda continue to draw significant attention in the crypto community, considering their potential impact on the Solana market and ongoing asset liquidation.
