News
Public · Published
FTX & Alameda are unstaking $SOL ... According to Onchain Lens, FTX/Alameda has transferred some 202,710 @Solana tokens from its staking wallet. The funds are worth some $20.62M - Could this be the start of a Solana dumping spree from the failed exchange?!
Onchain Lens reports that FTX and Alameda have unstaked and transferred 202,710 Solana tokens, worth about $20.62 million, from their staking wallet, possibly starting a sell-off of Solana by the failed exchange.
Published:
Updated:
What happened
Onchain Lens reports that FTX and Alameda have unstaked and transferred 202,710 Solana tokens, worth about $20.62 million, from their staking wallet, possibly starting a sell-off of Solana by the failed exchange.
Confirmed
Global impact / market context
If FTX and Alameda sell these Solana tokens, they would add to market supply. This could push Solana's price down, affecting investors who hold Solana and related assets like crypto funds or tokens.
Analyst inference
In the crypto market, large sell-offs can create fear and cause broader price drops. FTX's bankruptcy has already increased uncertainty, and this move might signal more selling, which could hurt Solana's value and investor confidence.
Analyst inference
What to watch
- Watch for additional transfers of Solana tokens from FTX and Alameda staking wallets, as these would confirm the start of a larger sell-off. Confirmed
- Track Solana's market price and trading volume in the coming days to gauge the actual market impact of this unstaking, compared to normal activity. Proposed
- Watch Solana's price and trading volume for a sustained drop following this transfer, which would signal that the unstaking is leading to selling pressure. Analyst inference
Affected assets
- SOL — Solana