FTX/Alameda Unstakes 3.03M SOL, Raising Concerns Over Potential Impact

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CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2025/03/04/ftx-alameda-unstakes-3-03m-sol-raising-concerns-over-potential-impact/ on 2025-03-04. Article ID: SD21626Tb8e89ccc. Author: Michaela. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2025/03/04/ftx-alameda-unstakes-3-03m-sol-raising-concerns-over-potential-impact/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

FTX/Alameda has unstaked 3.03 million Solana (SOL) raising concerns about potential market pressure due to large transfers often signaling upcoming price changes.

Blockchain analytics platform Lookonchain reported that approximately $41.3 million worth of SOL was transferred to multiple crypto wallets.

Of the 3.03M $SOL($431.3M) unstaked by FTX/Alаmeda today, 24,799 $SOL($3.38M) has been deposited to #Binance.https://t.co/D4j4l4yNuF https://t.co/uLkjQFwVId pic.twitter.com/ig2Jl2CcXl
— Lookonchain (@lookonchain) March 4, 2025

Of the 3.03 million unstaked SOL 24,799 SOL ($3.38M) has already been deposited to the crypto exchange Binance, liquidating the asset.

The trading impact of this development is significant. The recent surge in price and trading volume suggests increased market activity, possibly signaling buying pressure on SOL. The transfer of such a large amount of SOL may indicate that FTX/Alameda plans to sell or redistribute these tokens, which could influence market sentiment and liquidity.

Traders are advised to keep a close eye on these wallets for any additional movements or transactions, as further activity could influence the SOL market. Large transfers or liquidations can create volatility and potentially trigger price fluctuations.

Monitoring these wallets will help investors anticipate market shifts and respond quickly to any developments that may impact the asset’s value or liquidity.

FTX/Alameda Unstaking Follows Fund Redistribution

This move follows as the crypto exchange has redistributеd funds to investors affected by the FTX crash. On February 18, FTX Digital Markets, the Bahamian branch of the collapsed crypto exchange, started the process of reimbursing creditors who were unable to access their funds following FTX’s dramatic collаpse in November 2022.

“Convenience Class” creditors, or users with claims under $50,000, will receive full reimbursement along with an additional 9% annual interest. These creditors were among the first to receive their payments.

FTX’s crash was one of the most significant events in the cryptocurrency market, leading to the sudden collapse of the once-prominent crypto exchange. FTX, led by Sam Bankman-Fried, filed for bankruptcy after it was revealed that the exchange had misused customer funds and engaged in risky financial practices. The crash wiped out billions of dollars in market value and left thousands of investors facing significant losses.

Many retail and institutional investors who held assets on the exchange were left unable to access their funds, leading to a wаve of lеgal actions and calls for greater regulatory oversight in the cryptocurrency industry.

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MICHAELA

Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser befоre making any investment decisions.

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