- FTX unstaked 3.03M Solana worth $432.5 million and distributed funds to 37 wallets.
- A total of 7.83M SOL worth $986M was offloaded since November at $125.8 per token.
- Another 11.2M SOL worth $1.5 billion is set to unlock soon which may impact prices.
FTX and Alameda Research unstaked and distributed 3.03 million Solana (SOL) worth $432.5 million, marking their largest single unlock since November 2023. The assets were distributed to 37 wallets, with analysts predicting imminent deposits to Coinbase and Binance. This massive unstake aligns with the anticipated release of 11.2 million SOL (~$1.5 billion) set for early March, signaling potential market shifts as liquidity pressures intensify.
Source: X
7.83M SOL Offloaded at $125.8 Average Price
Since November 2023, FTX and Alameda have systematically unstaked and offloaded 7.83 million SOL, valued at $986 million, into the market. The average sale price stood at $125.8 per token, indicating a structured liquidation process according to analytical data presented by LookOnChain.
Important transactions included a 2.163 million SOL batch worth $141.8 million, making it one of the most shocking single unstaking events. Other movements involved 181,232 tokens, which were worth $41.46 million, 179,810 SOL ($39.21 million), and 182,422 SOL ($33.13 million), all pointing toward a calculated asset distribution strategy rather than an abrupt sell-off.
The withdrawal history reveals a deliberate and phased release of SOL, with figures such as 171,239 SOL ($15.29 million), 172,295 SOL ($29.75 million), and 176,710 SOL ($25.8 million) appearing at different intervals. As Solana’s price fluctuated, removing volumes adjusted accordingly, demonstrating an effort to offload holdings while mitigating market disruptions. Money transfers like 173,382 SOL ($24.92 million) and 175,583 SOL ($23.86 M) occurred during key volatility periods, suggesting that the liquidation was not driven by panic but by a structured exit approach.
Related: FTX’s 11.2M SOL Unlock Could Shake Up the Market: Report
Analyst Warns of Liquidity Risks
Analysts from Spot On Chain note that FTX/Alameda’s systematic asset distribution aims to release SOL without triggering immediate price collapses. However, the upcoming 11.2 million SOL unlock raises concerns about potential liquidity imbalances.
With billions of dollars at stake and centralized exchanges absorbing these inflows, investors remain cautious about Solana’s price trajectory. The latest $432.5 million unstake, surpassing previous records, indicates that FTX/Alameda is accelerating its asset disposal, leaving market participants speculating on whether the final wave of distributions will push prices lower or stabilize through strategic absorption.
