FTX/Alameda Redeem ~194.8K SOL From Staking, Distribute to Exchanges — Continued Outflows
On Dec. 12 on-chain data shows FTX/Alameda unstaked roughly 194,800 SOL (≈$25.5M) and within four hours split the tokens across 26 addresses, with many recipients subsequently moving funds to major centralized exchanges such as Coinbase and Binance. This action follows a pattern since Nov. 2023: combined staking-address redemptions now total about 9,562,000 SOL (≈$1.298B) at an average exit price near $135.80 per SOL. Approximately 4,070,000 SOL (≈$555M) remain staked in those addresses. Compared with an earlier report of a 193,800 SOL withdrawal and distribution to 28 addresses, the Dec. 12 movement confirms continued, concentrated offloading and consolidation of Solana holdings toward exchanges. For traders: the flow increases supply on centralized venues, signalling near-term sell-side pressure on SOL prices and heightened liquidity on exchanges — factors that may amplify short-term volatility and affect order-book depth. Key keywords: SOL, Solana, FTX, Alameda, staking withdrawals, exchange inflows.
Bearish
Large-scale unstaking followed by rapid redistribution to addresses that route funds to major centralized exchanges increases available sell-side liquidity for SOL. The cumulative outflows since November (≈9.56M SOL) and the latest ~194.8K SOL movement reinforce a persistent pattern of liquidation or consolidation that tends to exert downward pressure on price, especially in the short term. For traders, immediate effects likely include increased sell orders, wider bid-ask spreads, and heightened intraday volatility; market makers may widen spreads until absorption occurs. Over the medium-to-long term the impact depends on whether exchanges list these as sell orders or custody them for longer-term strategic moves — if selling persists, extended bearish pressure may follow, but if a portion is transferred to custodial or OTC channels, longer-term damage could be limited. Historical precedent shows large exchange inflows from major holders typically correlate with short-term price weakness for the affected token.