FTX and Alameda Resume Monthly Token Unlock: 194,800 SOL Released Sparks Market Attention

FTX and Alameda Research have resumed their monthly routine token unlock process. This week, they released a total of 194,861 Solana (SOL), valued at approximately $25 million. Lookonchain first detected this movement, followed by Arkham Intelligence confirming the related data. Since FTX’s bankruptcy liquidation has been proceeding on a regular schedule since 2025, this month’s activity aligns with previous cycles and shows no signs of additional selling pressure, but the scale still raises market concerns.

Data shows that SOL tokens flowed from an Alameda-related staking account to the FTX liquidation structure, used for ongoing asset disposal processes. Alameda played an important role in the validation and development of the Solana ecosystem early on, holding substantial long-term staked positions. The bankruptcy estate currently adopts a “periodic unlock + gradual disposal” approach to mitigate market impact.

Although this is a routine operation, the one-time unlock of nearly 195,000 SOL remains significant, especially in a recent environment where liquidity in mainstream cryptocurrencies has been weak. However, there is no current evidence that these SOL tokens have been transferred to exchanges or OTC platforms, so this unlock remains at the technical process stage and does not indicate immediate selling.

FTX asset movements have always been a key focus in the crypto market, especially for Solana. Solana is one of the most valuable holdings within the bankruptcy asset portfolio. Arkham data shows that FTX/Alameda-related entities still control over $621 million in on-chain assets, distributed across more than 12,600 identified addresses. The small inflows and outflows of ETH monitored this week are mostly related to MEV and automated operations, with no direct connection to liquidation.

From a market perspective, the development of the Solana ecosystem this year has alleviated traders’ fears of FTX unlocks. Network growth, increased institutional activity, and ecosystem expansion have significantly reduced the impact of single unlocks. However, the fact that supply is gradually entering the market remains, and each unlock could still serve as a potential trigger for price volatility.

Overall, the current SOL unlock schedule remains stable, transparent, and free of abnormal transfers, consistent with the bankruptcy estate’s “gradual approach.” The next batch of unlocks is expected in January 2025, and Solana market participants will continue to closely monitor relevant developments.