According to a report by the on-chain data analysis firm EmberCN, the bankrupt crypto exchange FTX and Alameda Research have once again redeemed a large amount of Solana (SOL) from their staking positions, with this transaction reaching 192,000 SOL, valued at approximately $44.9 million. This transfer is part of their asset liquidation plan, and since November 2023, the two companies have collectively redeemed and transferred nearly $1.2 billion worth of SOL.
Latest Redemption Details
Redemption Amount: 192,000 SOL
Redemption value: approximately 44.9 million USD
Date: Thursday (according to monthly plan)
Remaining stake amount: 4.18 million SOL (approximately 977 million dollars)
EmberCN pointed out that this batch of redemptions continued the monthly asset liquidation rhythm of FTX and Alameda. According to Solscan data, despite multiple redemptions, the staking addresses of the two companies still hold a large amount of SOL.
The cumulative liquidation scale is astonishing
Since November 2023, FTX and Alameda have cumulatively redeemed and transferred 8.98 million SOL, with a total value of approximately 1.2 billion dollars calculated at an average price of 134 dollars. This scale highlights the impact of FTX's bankruptcy liquidation on the on-chain capital flow of Solana.
SOL price performance
(Source: The Block)
According to The Block price data:
24-hour increase: +4.3%
Current price: 234.27 USD (as of Thursday at 11:45 PM Eastern Time)
7-day increase: +14.4%
Despite FTX continually selling off assets, the SOL price has recently remained strong and is on the rise, indicating a strong market absorption capacity.
Creditor Repayment Progress
FTX plans to distribute the next round of creditor repayments on September 30, but the amount has not yet been disclosed. In the previous two distributions:
February 2025: Disbursement of 1.2 billion dollars
May 2025: Disbursement of 5 billion dollars
A total of approximately 6.2 billion US dollars has been returned to previous customers.
Conclusion
The liquidation of SOL assets from FTX and Alameda is still ongoing. Although it poses potential selling pressure on the market in the short term, the recent strong performance of Solana's price may indicate that the market has gradually absorbed this pressure. As the end of September approaches with a new round of creditor repayments, the progress of FTX's asset disposal and on-chain developments will continue to be the focus of investor attention.
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