In a significant development in the cryptocurrency space, wallets associated with the collapsed FTX exchange and Alameda Research have recently unstaked approximately 188,000 SOL tokens, valued at around $31.5 million. This move, reported on June 13, 2025, has sparked widespread speculation about its potential impact on the Solana (SOL) market, especially as it coincides with an 8% price drop in SOL amid broader market declines.
The unstaked Solana tokens were distributed to 30 different addresses, a pattern consistent with previous actions by FTX and Alameda as they prepare for creditor repayments. According to on-chain data, such distributions often precede transfers to major exchanges like Coinbase and Binance, potentially leading to increased selling pressure on SOL. Since November 2023, the entities have unstaked over 8.4 million SOL, worth approximately $1.1 billion, at an average price of $130.
Despite this latest sell-off, FTX and Alameda still hold a substantial amount of staked SOL, estimated at 5 million tokens or roughly $726 million. This remaining stash continues to loom over the market, raising concerns among investors about future price volatility. Analysts are closely monitoring these movements, as further unstaking could exacerbate downward pressure on Solana’s price.
The timing of this unstaking is particularly notable as it comes ahead of FTX’s anticipated creditor repayment operations, though an official date for the next distribution round has not been announced. Market participants are wary, with some linking the recent SOL price decline to these on-chain activities alongside broader bearish sentiment in the crypto market.
Solana, one of the leading blockchain platforms, has faced multiple challenges recently, including network congestion and competitive pressures. The actions of major stakeholders like FTX and Alameda Research add another layer of uncertainty for SOL holders, who are already navigating a volatile market environment. Investors are advised to stay updated on further developments regarding FTX’s repayment plans and their potential effects on Solana’s valuation.
As the crypto community watches these events unfold, the broader implications of such large-scale token movements remain unclear. Will Solana withstand the pressure, or are more significant price corrections on the horizon? Only time will tell, but for now, all eyes are on FTX, Alameda, and the Solana ecosystem.
Maria Lourdes
