FTX Unlocks More Staked Solana: $45 Million on the Move

The bankrupt exchange FTX and its sister company Alameda Research continue liquidating their crypto holdings. The latest move involved unlocking 192,000 SOL, worth nearly $45 million, according to on-chain data highlighted by analytics provider EmberCN.

Another installment in the payout cycle EmberCN noted that this is part of FTX’s regular monthly schedule of asset sales used to repay creditors. Since November 2023, the estate has unlocked and transferred a total of 8.98 million SOL, valued at roughly $1.2 billion at an average price of $134 per token. Despite the ongoing sell-offs, the FTX and Alameda staking address still holds a massive balance of about 4.18 million SOL, worth nearly $977 million at current prices.

Solana price surges The market responded positively. Solana (SOL) rose 4.3% in the past 24 hours, trading at around $234.27 late Thursday. Over the past week, SOL has gained more than 14%, underscoring its strong momentum despite the overhang from FTX’s sales.

Creditor repayments continue Meanwhile, FTX is preparing for its next round of creditor repayments scheduled for September 30. The exact amount has not yet been disclosed. So far, however, the collapsed exchange has returned about $6.2 billion to former customers — $1.2 billion in February and $5 billion in May.

Conclusion The ongoing unlocking of Solana confirms that FTX and Alameda are steadily unwinding their holdings to meet creditor obligations. Despite the large sell-offs, the Solana market has shown remarkable resilience, with the token continuing to climb in value.

#FTX , #solana , #sol , #crypto , #blockchain

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies! Notice: ,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“