Alameda Research, the sister company of the bankrupt FTX exchange, has once again moved a significant amount of Solana (SOL), sparking market speculation about another round of creditor distributions. According to on-chain data from Arkham, the firm unstaked approximately $16 million worth of SOL and transferred it to a wallet address historically linked to creditor repayments.
This action mirrors a transaction executed just one month ago, where Alameda followed a similar pattern of unstaking and moving funds before distributing assets to creditors. The repetition of this behavior has led many investors and analysts to believe the firm is preparing for another payout phase, though no official confirmation has been provided.
The mechanics involve the unstaking process on Solana's proof-of-stake network, which unlocks previously locked tokens, making them liquid. Notably, the funds were not sent to a trading platform, which would signal an intent to sell, but to a distribution-linked address. This aligns with past creditor repayment behavior rather than a market sale.
Alameda Research, founded by Sam Bankman-Fried, remains a major holder of SOL, with Arkham data indicating it still controls about 3.5 million tokens worth roughly $294 million. SOL itself is the seventh-largest digital asset with a market capitalization of $47.26 billion, trading near $82 at the time of the report.
The market reaction has been cautious. While structured repayments could improve long-term confidence in the resolution of FTX/Alameda obligations, there is concern that any distribution could introduce short-term selling pressure if creditors choose to liquidate their received tokens, potentially creating volatility for SOL's price.
