FTX/Alameda’s Major Move: 185,000 SOL Redeemed and Transferred Amidst $1 Billion in Staking Operations

On March 13, COINOTAG reported that prominent on-chain analyst Wu highlighted significant activities related to FTX/Alameda’s monthly SOL transfer. Recently, the firm redeemed approximately 185,000 SOL, valued at around $22.89 million, from staking and subsequently distributed it across 38 different addresses. It’s anticipated that the majority of these recipients will transfer their SOL holdings to major cryptocurrency exchanges like Coinbase and Binance.

Since November 2023, FTX/Alameda’s staking mechanisms have facilitated the redemption and transfer of an impressive total of 7.845 million SOL, equating to $1.00878 billion. This movement was executed at an average transfer pricing of $128 per SOL token, underscoring the liquidity strategies employed by the entity. Currently, FTX/Alameda still retains 5.502 million SOL, amounting to approximately $693.8 million, firmly staked within their portfolio.