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FTX/Alameda continues to redeem and transfer large amounts of Solana (SOL) from its staking address. Just three hours ago, roughly 182,421 SOL (worth about $32.35 million) were redeemed and sent to 20 different addresses.
This follows a pattern of similar monthly activity over the past year, with FTX/Alameda redeeming and transferring millions of SOL tokens regularly.
Source: X
Since November 2024, FTX/Alameda’s staking address has redeemed 4.445 million SOL tokens, worth roughly $516.88 million. The average transfer price for these tokens is about $116.2 each.
The address currently holds 6.47 million SOL (valued at $1.18 billion) staked in the system. These tokens move at regular intervals, mainly around the 12th to the 15th of each month, with amounts approaching 170,000 SOL. And in December 2024, FTX/Alameda redeemed and transferred 181,232 SOL (worth $41.46 million) to 20 different addresses.
This latest transfer adds to the growing number of SOL tokens moved across multiple addresses. The total number of SOL redeemed and transferred since November now exceeds 4.26 million, worth about $484.53 million.
Related: FTX and Alameda Unstake Over $1 Billion in Solana, Impacting SOL Price
The Ongoing Frequency of SOL Redemptions
These SOL redemptions continue at a high frequency, with an average transfer of roughly 170,000 SOL each month. At this rate, FTX/Alameda will likely distribute the remaining staked SOL tokens over the next few years.
These tokens remain staked at the FTX/Alameda address, which now holds 6.764 million SOL, valued at approximately $1.428 billion.
This consistent pattern of transfers could indicate a long-term strategy for asset distribution or preparation for future trading. The steady flow of SOL into major exchanges may also suggest that FTX/Alameda is actively managing its digital asset holdings to adapt to market conditions or business needs.
Related: FTX/Alameda Moves $28M in SOL From Staking, Analysts Eye Coinbase, Binance
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