FTX and Alameda Research recently conducted another withdrawal from Solana 
$85 (SOL) staking positions. In line with their ongoing asset liquidation strategy amidst bankruptcy, they transferred 192,000 SOL worth $44.9 million last Thursday. This transaction is part of a structured monthly liquidation program managed by the bankruptcy estate.
Details of Solana Liquidations
The blockchain analytics platform EmberCN reported that FTX and Alameda Research have pulled out a total of 8.98 million SOL since November 2023. This amount, at an average price of $134 each, equates to approximately $1.2 billion. According to Solscan, the staking address still holds 4.18 million SOL, with a current market value of about $977 million.
Despite the liquidation efforts by FTX and Alameda, the Solana market continues to see steady trading volume and price movements. In the last 24 hours, the price of SOL coins increased by 4.3%, reaching $234.27. On a weekly scale, there has been a 14.4% value increase.
Creditor Payments
FTX management is preparing for the next round of creditor payments scheduled for September 30. The company has not yet disclosed the amount to be disbursed in this round. Previously, the bankruptcy estate made payments of $1.2 billion in February and $5 billion in May, totaling $6.2 billion.
The planned distributions to creditors continue to be a significant aspect of the bankruptcy process, along with the liquidation of various cryptocurrencies.
