Alameda/FTX Address Unstakes Millions in Solana (SOL)
CryptoNewsTerminal Staff11 Sep, 2024
Alameda/FTX Address Unstakes Millions in Solana (SOL)
On-chain crypto analyst EmberCN reported that an Alameda Research/FTX-related address (beginning with "H4y") unstaked 177,693 SOL, worth approximately $23.75 million, from Solana's (SOL) proof-of-stake mechanism approximately seven hours ago. It is speculated that these funds will be transferred to a centralized exchange (CEX). The address still has a substantial stake of 7.057 million SOL, valued at $943 million. This development signals a potential shift in the market, as Alameda Research and FTX have been major players in the cryptocurrency ecosystem. The movement of these funds could impact the price of SOL and the broader crypto market. Traders and investors should monitor this situation closely and adjust their strategies accordingly.
