Alameda Research has been repaying creditors with tokens of Solana (SOL) valued at $15 million as part of its ongoing repayment process. Arkham, a blockchain analytics platform, alerted about the most recent transfers, stating that the money was moved in a new monthly release.
As on-chain data shows, the estate has moved around 15.60 million dollars of SOL to 25 different addresses. The payments are a component of an organized distribution program that has now lasted 21 months straight after the downfall of FTX and its related trading company, Alameda Research.
Details of the Latest Transfers
Alameda Research has been repaying creditors with tokens of Solana (SOL) valued at $15 million as part of its ongoing repayment process. Arkham, a blockchain analytics platform, alerted about the most recent transfers, stating that the money was moved in a new monthly tranche.
As on-chain data shows, the estate has moved around 15.60 million dollars of SOL to 25 different addresses. The payments are a component of an organized distribution program that has now lasted 21 months straight after the downfall of FTX and its related trading company, Alameda Research.
Details of the Latest Transfers
The wallets listed in the records of the transaction as Alameda Research: FTX/Alameda Staking had several Solana transfers to wallets named Alameda Recipients. Some of the transfers were directed to BitGo custody wallets implying that institutional-grade custodial services were used in the allocation procedure.
There was one transaction with 89,581 SOL, worth approximately 7.13 million, transferred to a Coinbase Prime deposit address. The other transfers varied between smaller quantities of a few dozens of Solana and larger quantities of transfers that were more than 16,000 SOL. The staggered mechanism implies an organized mechanism of payout instead of one big transfer.
Arkham data also brings out that Alameda still possesses large on-chain assets in spite of the distributions. The estate continues to hold some 3.933 million Solana, which is worth about $314.95 million.
Alameda’s Remaining Crypto Holdings
In addition to Solana, Alameda wallets portray a diversified portfolio. Holdings contain approximately 514 BTC valued above $34 million, about $20 million in AUSTD, over $18 million in STG tokens, and minor investments in YUSD, USDT, and FTT.
The Arkham dashboard shows that the tracked crypto assets of the estate were over 415 million in total. The holding of the leading Solana is still the main one, and it represents the largest percentage of the portfolio value. The price of SOL in the dashboard was close to $80, which indicates a minor downward trend per day.
Market Implications
The ongoing monthly unlocking and redistribution of Solana have raised concerns on whether this will have an effect on the market. As Alameda continues to hold more than $300 million in Solana, traders are keenly looking at whether distributed tokens will be immediately sold or will be held by creditors.
The systematic character of the payouts to date indicate a systematic exercise as opposed to the liquidations of an orderly character in large scales. Nonetheless, the transfer of money to centralized exchanges like Coinbase Prime has sparked a conversation as to whether the pressure to sell might be present.
