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Dec 22, 05:20

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SOC Team

A review of FTX and Alameda's Solana (SOL) holding

The SOL price has risen by around 30% in the past 7 days and flips BNB in market capitalization.


However, FTX and Alameda remain major SOL holders. Will they continue selling amidst the recent surge, impacting market dynamics? Let's review some statistics below.


1. FTX and Alameda were estimated to hold 55.8M SOL (then $1.16B) at the time of bankruptcy, according to CoinGecko:

  • SOL is their largest holding, followed by BTC and ETH.


Fig 1. Solana is FTX and Alameda's largest holding.


2. Only 27% of FTX’s total SOL holdings (15.3M SOL) have been unlocked, of which 13.22M SOL ($666M) might have been sold:


Fig 2. The amount of SOL moved out of FTX's Cold Storage 1 and 2.


Fig 3. FTX allegedly further moved out 6.23M SOL ($386M) via address "4Axqyo".


3. The remaining 73% of FTX’s total SOL holdings (40.5M SOL, now valued at $3.99B) are still locked up and will be released in the following vesting schedule:

  • Around 609K SOL ($60M) are unlocked each month, representing around 1% of FTX’s total SOL holdings.
  • A full amount of 7.5M SOL will be unlocked on March 1, 2025, representing 13.5% of FTX's total SOL holdings.
  • A full amount of 61.8K SOL will be unlocked on May 17, 2025.
  • Based on the vesting schedule, it is unlikely that FTX and Alameda's SOL sell-off in the near future can heavily impact the market.


Fig 4. FTX's SOL unlock schedule by CoinGecko.


4. The SOL price pumped 461% since FTX's bankruptcy on November 11, 2022, having risen from $17.66 to $99.03 as of now:

  • This implies that FTX debtors may gain more than $3B more from SOL.


Fig 5. The SOL price has risen sharply in the past year.

#price surge
#selling pressure