Key takeaways - Alameda Research unstaked roughly $16 million worth of SOL and moved it to an address tied to prior creditor distributions, according to Arkham Intelligence. - The transfer mirrors a recurring on-chain pattern — same destination, same sequence — suggesting a routine repayment workflow rather than a one-off trade. - Alameda still holds about 3.5 million SOL (~$294 million), meaning the FTX-related unwind remains a material overhang for the market. Alameda Research has once again unstaked a chunk of Solana (SOL) and routed it to a wallet previously used for creditor payouts, on-chain data from Arkham Intelligence shows. The move — roughly $16 million in SOL — repeats a pattern observers have tracked for months: unlock locked SOL, send it to a designated distribution address, and await the next step in the repayment process. Why the pattern matters About a month ago Alameda performed the same sequence. The repetition — same destination address and transaction flow — reads less like an opportunistic sale and more like a scheduled operational cadence tied to the multi-year wind-down of FTX-related holdings. There’s no public confirmation that this tranche will be handed out immediately, but the consistent address reuse makes the purpose clear: ongoing creditor reimbursements. What “unstaking” means here Unstaking withdraws tokens that were previously locked to secure Solana’s proof-of-stake network. While staked, those tokens earn yield and can’t be moved; once unlocked they become liquid and usable. Alameda’s steady pattern of unstaking and routing, rather than simply leaving tokens staked or held, suggests a deliberate, paced liquidation strategy — a measured process rather than a fire sale. Market context At the time of writing, SOL traded around $82, roughly flat on the day, with a network market cap near $47.26 billion. That’s well below SOL’s $293 all-time high in January 2025, which came under very different market conditions and a very different iteration of Alameda. How much is left Alameda’s remaining SOL position is still significant. Arkham puts the balance at about 3.5 million SOL, roughly $294 million at current prices. That’s an unusually large lingering position for an estate tied to a bankruptcy-style unwind — most comparable liquidations are wrapped up within a year. Three-plus years after FTX’s collapse, the size and concentration of Alameda’s SOL holdings underscore how sprawling the original balance sheet was. So what now? This $16 million unstake won’t move the market by itself, but it’s a reminder that the FTX fallout is not fully behind us. Hundreds of millions in assets remain in motion, and every unstaking or transfer is watched for signals about the pace and scale of future distributions. For Solana market participants, the key takeaway is that the unwind is methodical and ongoing — transparent on-chain activity that continues to shape expectations around supply pressure and timing. Read more AI-generated news on: undefined/news