FTX/Alameda redeem about 194.8K SOL from staking and distribute am to exchanges — outflows dey continue
For Dec 12, on-chain data show say FTX/Alameda unstaked about 194,800 SOL (≈$25.5M) and within four hours dem scatter the tokens across 26 addresses, many recipients later commot move funds go big centralized exchanges like Coinbase and Binance. This move follow pattern since Nov 2023: combined staking-address redemptions don reach about 9,562,000 SOL (≈$1.298B) with average exit price near $135.80 per SOL. About 4,070,000 SOL (≈$555M) still dey staked for those addresses. Compared with earlier report wey talk about 193,800 SOL withdrawal and distribution to 28 addresses, the Dec 12 movement confirm say dem still dey offload and consolidate Solana holdings toward exchanges. For traders: the flow go increase supply for centralized venues, signal short-term sell-side pressure on SOL price and higher liquidity on exchanges — things we fit increase short-term volatility and affect order-book depth.
Bearish
Big-scale unstaking wey follow by quick redistribution go addresses wey dey route funds go major centralized exchanges dey increase di available sell-side liquidity for SOL. Di cumulative outflows since November (≈9.56M SOL) plus di latest ~194.8K SOL movement dey reinforce one steady pattern of liquidation or consolidation wey dey put downward pressure on price, specially short-term. For traders, immediate effects fit include more sell orders, wider bid-ask spreads, and higher intraday volatility; market makers fit widen spreads until dem absorb am. For medium-to-long term, di impact depend whether exchanges list dem as sell orders or dem dey custody dem for longer-term strategic moves — if selling continue, extended bearish pressure fit follow, but if some share dey transfer to custodial or OTC channels, long-term damage fit be limited. Historical precedent show say big exchange inflows from major holders normally correlate with short-term price weakness for di affected token.