FTX/Alameda Redeems Over 4M SOL Tokens: A Nearer Take a look at Transfers

• FTX/Alameda redeems and transfers tens of millions of SOL tokens frequently.
• Over 4.4 million SOL redeemed since November 2024, price $516.88 million.
• FTX/Alameda’s staking tackle holds over 6.7 million SOL, valued at $1.43B.

FTX/Alameda continues to redeem and switch massive quantities of Solana (SOL) from its staking tackle. Simply three hours in the past, roughly 182,421 SOL (price about $32.35 million) had been redeemed and despatched to twenty totally different addresses.

This follows a sample of comparable month-to-month exercise over the previous yr, with FTX/Alameda redeeming and transferring tens of millions of SOL tokens frequently.

Supply: X

Since November 2024, FTX/Alameda’s staking tackle has redeemed 4.445 million SOL tokens, price roughly $516.88 million. The common switch worth for these tokens is about $116.2 every.

The tackle at the moment holds 6.47 million SOL (valued at $1.18 billion) staked within the system. These tokens transfer at common intervals, primarily across the twelfth to the fifteenth of every month, with quantities approaching 170,000 SOL. And in December 2024, FTX/Alameda redeemed and transferred 181,232 SOL (price $41.46 million) to twenty totally different addresses.

This newest switch provides to the rising variety of SOL tokens moved throughout a number of addresses. The full variety of SOL redeemed and transferred since November now exceeds 4.26 million, price about $484.53 million.

Associated: FTX and Alameda Unstake Over $1 Billion in Solana, Impacting SOL Value

The Ongoing Frequency of SOL Redemptions

These SOL redemptions proceed at a excessive frequency, with a mean switch of roughly 170,000 SOL every month. At this fee, FTX/Alameda will probably distribute the remaining staked SOL tokens over the following few years.

These tokens stay staked on the FTX/Alameda tackle, which now holds 6.764 million SOL, valued at roughly $1.428 billion.

This constant sample of transfers may point out a long-term technique for asset distribution or preparation for future buying and selling. The regular move of SOL into main exchanges can also counsel that FTX/Alameda is actively managing its digital asset holdings to adapt to market situations or enterprise wants.

Associated: FTX/Alameda Strikes $28M in SOL From Staking, Analysts Eye Coinbase, Binance