Alameda Research Unstakes $32M in Solana (SOL) Tokens Worth $32.79 Million, Raising Market Concerns of Liquidation

Despite the move, Alameda still holds over $900 million in Solana locked in staking.Crypto analyst Marty Party see bullish pennant pattern on Solana, suggesting a potential breakout towards the $212 level.

Alameda Research, the bankrupt company linked to FTX, has once again become a hot topic due to a large unstaking of Solana (SOL) tokens.

As reported by Solscan data, around 187,600 SOL were unstaked from Alameda’s staking address at 01:53 UTC+8 on Friday, May 12. At present market value, this amounts to $32.79 million.

No further transfers have been made from the address since then, and the tokens remain in an idle state. However, considering Alameda’s history and substantial holdings, market participants are closely monitoring the situation.

Despite this unstaking, the same address still holds a massive 5.204 million SOL, worth roughly $910 million, which remains staked. This portion of the tokens is part of the SOL that was originally seized by the U.S. government in March and later returned to the bankrupt company.

Whenever a large amount of crypto is unstaked, it paves the way for potential sell-off activity, which may result in short-term price declines. However, it’s worth noting that no tokens have been moved or sold yet.

In the event that Alameda decides to liquidate a portion of the unstaked SOL, it could put temporary pressure on Solana’s price.

Crypto analyst Marty Party shared a daily chart of Solana showing a bullish pennant, a classic technical pattern that often appears before a breakout.

According to his analysis, the current structure hints that Solana could soon reach a target of $212, a level that once acted as key resistance. The chart shows that Solana recently made a strong recovery after falling sharply below $120.

Since then, it has climbed steadily and is now trading near $174, reflecting a rise of 20% seen in the last 7 days. If momentum continues, breaking above the pennant could signal a bigger move ahead.