Solana is as soon as once more within the highlight. Blockchain information by Arkham Intelligence reveals that an Alameda Research staking account has unstaked $35 million value of SOL. Alameda Research initially locked up the SOL in late 2020. A convicted fraudster, Sam Bankman-Fried, based Alameda Research, as soon as a outstanding quantitative cryptocurrency buying and selling agency and the sister firm of the now-defunct FTX change.
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The connection immediately raises eyebrows, given the agency’s notorious collapse in late 2022. At the time, each Alameda and FTX had been pressured out of business following revelations of fraudulent practices, together with the misuse of billions in FTX buyer funds. These occasions marked one of many largest scandals in crypto historical past, sending shockwaves by way of the business and prompting years of authorized proceedings and asset restoration efforts.
The latest unstaking has fueled hypothesis amongst merchants and analysts, with some viewing it as a possible sign of forthcoming market exercise involving SOL. While the switch doesn’t essentially indicate a direct sale, the motion of such a considerable quantity may affect short-term worth dynamics and sentiment.
Alameda Research SOL Unstake Raises Questions
According to blockchain analytics platform Arkham Intelligence, the $35 million value of Solana just lately unstaked from an Alameda Research account had an preliminary worth of simply $350,000 when it was locked in late 2020 — a exceptional 100x enhance. This staggering development in worth underscores Solana’s meteoric rise over the previous few years. Arkham raises an vital query: Will these funds lastly be returned to FTX collectors? While the reply stays unsure, the transfer means that some exercise is underway within the ongoing restoration and redistribution course of tied to Alameda’s chapter.
From a worth motion perspective, Solana has been consolidating under the $200 stage since February, unable to interrupt by way of this key resistance regardless of sustaining robust community exercise. The sideways development has stored SOL comparatively quiet in comparison with different main cryptocurrencies. When in contrast with Ethereum, the distinction is notable — Ethereum has seen stronger worth momentum just lately, main some analysts to name the present market section “Ethereum season.”
However, others argue that Solana’s quiet section could also be setting the stage for a breakout. Historically, large-cap altcoins like SOL typically comply with within the wake of Ethereum rallies, catching momentum as soon as ETH’s surge begins to chill.
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Solana Consolidates Below Key Resistance
On the weekly chart, Solana (SOL) is buying and selling at $174.64, down 4.39% within the newest session, because it continues a multi-month consolidation section under the essential $200 resistance stage. Since February 2025, SOL has repeatedly examined this psychological barrier with out securing a sustained breakout, highlighting robust promoting stress at increased ranges.
The 50-week easy transferring common (SMA) at $172.30 is appearing as speedy dynamic help, with the 100-week SMA ($144.06) and 200-week SMA ($101.74) positioned nicely under, reflecting a still-healthy longer-term uptrend. The present worth construction reveals SOL holding above each the 50-week and 100-week SMAs, a bullish sign that implies consumers stay in management regardless of latest pullbacks.
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However, buying and selling volumes haven’t matched the peaks seen throughout prior rallies, indicating a extra cautious market tone. A decisive breakout above $200 would doubtless open the door to retests of the $250–$260 zone, whereas failure to clear resistance may prolong the consolidation or result in a retracement towards the 100-week SMA.
Featured picture from Dall-E, chart from TradingView
