- FTX/Alameda repeatedly pays out and transfers hundreds of thousands of SOL tokens.
- As of November 2024, greater than 4.4 million SOL price $516.88 million have been redeemed.
- The FTX/Alameda staking deal with holds over 6.7 million SOL price $1.43 billion.
FTX/Alameda continues to redeem and switch massive quantities of Solana (SOL) from its staking deal with. Simply three hours in the past, roughly 182,421 SOL (price about $32.35 million) had been redeemed and despatched to twenty completely different addresses.
This follows a sample of comparable month-to-month exercise over the previous 12 months, with FTX/Alameda repeatedly cashing out and transferring hundreds of thousands of SOL tokens.
Supply: X
Since November 2024, the FTX/Alameda staking deal with has redeemed 4.445 million SOL tokens, price roughly $516.88 million. The typical switch worth of those tokens is about $116.2 every.
The deal with at the moment holds 6.47 million SOL (price $1.18 billion) staked into the system. These tokens transfer at common intervals, particularly across the twelfth to fifteenth of every month, with quantities approaching 170,000 SOL. And in December 2024, FTX/Alameda redeemed and transferred 181,232 SOL (price $41.46 million) to twenty completely different addresses.
This newest switch provides to the rising variety of SOL tokens being moved throughout a number of addresses. The full variety of SOLs redeemed and transferred since November now exceeds 4.26 million, which is roughly $484.53 million.
Associated: FTX, Alameda reduce over $1 billion guess in Solana, affecting SOL worth
Ongoing frequency of SOL buybacks
These SOL redemptions proceed at a excessive frequency, with a median switch of roughly 170,000 SOL every month. At this price, FTX/Alameda will doubtless distribute the remaining staked SOL tokens over the following few years.
These tokens stay staked at FTX/Alameda, which now holds 6.764 million SOL price roughly $1.428 billion.
This constant sample of transfers may point out a long-term technique for asset distribution or preparation for future buying and selling. The regular circulate of SOL to main exchanges may additionally point out that FTX/Alameda is actively managing its holdings of digital property to adapt to market circumstances or enterprise wants.
Associated: FTX/Alameda to Transfer $28M in SOL from Staking, Analysts Eye Coinbase, Binance
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