FTX’s subsidiary, Alameda Research, “unstake” Solana (SOL) assets worth approximately $16 million and transferred these assets to an address used for creditor payments. The transfer transaction was based on on-chain data provided by the blockchain analysis platform Arkham.
Alameda’s transfers to Solana continue
Unstaking refers to the re-circulation of assets that have been locked in the past period in order to contribute to the security of the blockchain and earn rewards. With this step, assets that have freedom of use can be transferred for different purposes.
The latest transfer stands out as a continuation of similar transactions previously carried out by Alameda. A similar amount of SOL was transferred to this address about a month ago. As in the previous case, there was an expectation that the funds would be used to pay creditors during the company’s restructuring process.
Although there is no official distribution confirmation regarding this particular transaction yet, the overlapping transfers indicate that the company is advancing the payment process piece by piece.
Market outlook from Alameda Research and Solana
Solana is known as a blockchain that supports smart contracts and has high transaction capacity. SOL is the basic token of this ecosystem. SOL’s market capitalization has reached $47.26 billion, making it the seventh largest digital asset globally.
At the time of writing, the SOL price was around $82. The peak price in the last year was $293. Solana price seems to have declined significantly since then.
Alameda Research was founded by Sam Bankman-Fried in 2017. The company initially focused on arbitrage transactions by evaluating the price differences of crypto assets on different exchanges and markets.
Increasing its volume over time, Alameda stood out with its role as a liquidity provider in the crypto ecosystem. It operated in spot, derivative and structured products, reaching billions of dollars in transaction volume.
According to current data, Alameda still has approximately 3.5 million SOLs on hand. The total market equivalent of this amount is approximately 294.1 million dollars.
The company’s significant remaining assets remain an important source of creditor payments or potential other transfers.
