FTX/Alameda has completed its January 2025 monthly Solana (SOL) redemption, withdrawing 182,421 SOL tokens valued at $32.35 million from its staking address.
According to blockchain data analyzed by researcher EmberCN, the tokens were distributed across 20 different addresses.
This was in continuation of the established pattern of monthly redemptions that began in November 2024.
FTX’s Historical Redemption Pattern
FTX/Alameda’s January redemption follows a consistent pattern that has been established over recent months. Each withdrawal shows remarkable regularity in both timing and volume.
In December 2024, the firm redeemed 181,232 SOL worth $41.46 million. November’s redemption involved 179,800 SOL valued at $39.21 million.
The October 2024 redemption represented the largest dollar value in recent months, with 178,631 SOL worth approximately $128 million, due to higher SOL prices during that period.
– Advertisement –
The pattern reveals a gradual increase in the number of tokens redeemed each month, starting from 177,693 SOL in September 2024.
The consistency in timing – typically occurring between the 12th and 15th of each month – suggests a structured approach to managing these assets.
The average redemption price across these transactions stands at $116.2 per SOL. This highlights the price fluctuations the asset has experienced during this period.
These systematic redemptions have resulted in a cumulative withdrawal of 4.445 million SOL, representing over $516.88 million in total value.
FTX’s structured strategy
The structured approach to SOL redemptions by FTX/Alameda indicates a carefully planned strategy to manage asset liquidation while minimizing market disruption.
The consistent timing and distribution of these monthly redemptions – with tokens spread across exactly 20 addresses.
The monthly redemption value has fluctuated majorly, from $23.7 million in September 2024 to $128 million in October 2024.
That’s primarily due to SOL price volatility rather than changes in the number of tokens redeemed.
This stability in token volume, averaging around 180,000 SOL per month, demonstrates a commitment to predictable liquidation patterns regardless of market conditions.
Analysis of on-chain data reveals that many of these redeemed tokens eventually flow to major cryptocurrency exchanges like Binance and Coinbase, though through a series of intermediate transactions.
This distribution method helps prevent immediate selling pressure on any single exchange while maintaining market liquidity across multiple trading venues.
6.47 Million Solana Held in Staking
The ongoing SOL redemptions by FTX/Alameda continue to draw market attention. The remaining 6.47 million SOL ($1.18 billion) held in staking represent a significant position in the Solana ecosystem.
At the current redemption rate of approximately 180,000 SOL per month, the process could extend for nearly three years, assuming the pattern remains consistent.
Market observers note that this methodical approach has helped maintain relative price stability for Solana despite the regular liquidations.
The predictability of these redemptions has allowed market participants to factor them into their trading strategies. This can reduce potential negative price impact.
Looking ahead, crypto analysts anticipate the continuation of this disciplined redemption strategy.
The careful execution of these transfers suggests a long-term commitment to orderly liquidation. That would balance the need to meet financial obligations with market stability concerns.
