Hundreds of millions of dollars worth of SOL is currently in the hands of Alameda Research liquidators, according to a dedicated platform that tracks Solana’s key on-chain metrics.
Solana Compass make clear Sam Bankman-Fried’s bankrupt trading firm Alameda Research managed 48,636,772 SOL tokens worth more than $643 million at the time of writing.
Solana Compass quickly responded as Solana dropped nearly 95% from its all-time high of $259. Rumbling A large SOL treasury can be a source of tremendous selling pressure.
According to the platform, SOL’s stash is currently subject to Chapter 11 bankruptcy and will likely remain frozen until the liquidation process is complete.
explain solana compass,
“Alameda no longer holds SOL, it is held by liquidators. SOL on charts is locked and often unsold for years. It means we can’t sell anything until we do, which could take 10 years or more.”
Also an on-chain analytics platform To clarify The SOL token in question is in locked stake, meaning the coin is not currently in circulation and cannot be sold on the open market.
According to Solana Compass, Alameda Research was previously the largest owner of SOL locked into a staking account. On-chain intelligence platforms show that the entire SOL stash will likely be unlocked in the first half of 2025.
Don’t miss a beat – subscribe to get encrypted email alerts delivered straight to your inbox
Price action confirmation
Please follow us twitter, Facebook When telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/spainter_vfx