Alameda moves $16 million in Solana’s SOL token for possible creditor distribution
Alameda unstakes $16 million worth of Solana’s SOL token, according to Arkham.
What to know:
- Alameda unstakes $16 million worth of Solana’s SOL token, according to Arkham.
- The firm did the same about a month ago, moving funds to an address used for credit reimbursements.
The latest move follows a familiar pattern: unstake coins and route them to addresses used to reimburse creditors. About a month ago, Alameda did the same, directing funds to the same distribution address. That prior move ultimately raised expectations that the funds were part of an ongoing creditor repayment process tied to the firm’s restructuring.
While there has been no formal confirmation that this specific tranche will be distributed imminently, the repetition of the pattern suggests continuity in the process rather than an isolated movement.
SOL, the native token of programmable blockchain Solana, has a market capitalization of $47.26 billion, which makes it the seventh-largest digital asset in the world. As of writing, SOL traded near $82, largely unchanged on a 24-hour basis, but down significantly from its all-time high of $293 hit in January last year.
