FTX/Alameda Moves $21.56M in SOL, Liquidates 8.031M Since November

On April 12th, a notable transaction occurred in the cryptocurrency market. On-chain data analyst Yujin Monitoring identified a transfer of 186,000 SOL from an FTX/Alameda address, valued at approximately $21.56 million. This transfer, which took place six hours prior, was distributed among 22 different addresses. Historical patterns suggest that most recipients are likely to liquidate their SOL holdings on major exchanges.

Since November 2023, the FTX/Alameda staking address has reportedly redeemed and moved a significant amount of SOL, totaling 8.031 million SOL, equivalent to roughly $1.03 billion. This was accomplished at an average transfer price of $128.3 per SOL. Currently, the staking address retains a substantial amount, with 5.359 million SOL, translating to about $645 million still staked, indicating continued confidence in potential returns within the crypto market.

This recent movement of SOL from the FTX/Alameda address highlights the ongoing liquidation of assets by the entity. The transfer of 186,000 SOL, valued at $21.56 million, suggests a strategic move to manage liquidity and potentially capitalize on market conditions. The distribution of the transfer among 22 different addresses indicates a deliberate effort to diversify the impact of the liquidation, which could help mitigate market volatility.

The historical data shows that since November 2023, the FTX/Alameda staking address has been actively redeeming and moving SOL. The total amount redeemed, 8.031 million SOL, valued at $1.03 billion, reflects a significant portion of their holdings. The average transfer price of $128.3 per SOL provides insight into the market conditions during these transactions. Despite the substantial liquidation, the staking address still holds 5.359 million SOL, valued at $645 million, indicating a continued belief in the potential returns of the crypto market.

The continued staking of a significant amount of SOL suggests that FTX/Alameda remains optimistic about the future performance of the cryptocurrency. The decision to retain 5.359 million SOL, valued at $645 million, demonstrates their confidence in the long-term value of SOL and their strategic approach to managing their crypto assets. This move also reflects their commitment to maintaining liquidity while capitalizing on market opportunities.