Alameda Research, an affiliate of the defunct crypto exchange FTX, has unstaked approximately $16 million worth of Solana (SOL) tokens and transferred them to an address dedicated to creditor payments, according to on-chain data provided by blockchain analytics platform Arkham.
Ongoing Solana transfers from Alameda
Unstaking refers to the process of unlocking tokens that had previously been locked up to help secure the blockchain and earn rewards. Once unstaked, these assets become freely transferable and can be used for different purposes, such as repaying creditors in this case.
This latest transfer continues a pattern of similar operations by Alameda. Roughly a month ago, a comparable volume of SOL was moved to the same destination address. As with past transfers, the expectation is that these funds are intended for use in the company’s restructuring and creditor payment process.
Although there has not yet been any official confirmation regarding the distribution of these assets, the repeated transfers indicate the company is proceeding with repayments in a phased manner.
Alameda Research and Solana’s market standing
Solana is recognized as a blockchain platform with smart contract functionality and high transaction throughput. Its native token, SOL, serves as the backbone of the ecosystem. At present, SOL boasts a market capitalization of around $47.26 billion, making it the world’s seventh largest digital asset.
At the time of writing, SOL was trading at approximately $82. Over the past year, it reached a high of $293, which means its price has dropped significantly from previous peaks.
Alameda Research was established by Sam Bankman-Fried in 2017, initially focusing on arbitrage opportunities across different cryptocurrency exchanges to profit from price discrepancies.
Having gradually expanded its size and influence, Alameda eventually emerged as a key liquidity provider within the crypto ecosystem. The firm engaged in billions of dollars in transactions, working across spot, derivatives, and structured products.
Latest on-chain figures indicate Alameda still holds around 3.5 million SOL tokens, representing a market value of roughly $294.1 million.
The large volume of assets remaining in Alameda’s possession continues to serve as a significant resource for upcoming creditor payments or potential additional transfers.
