Alameda Research Unstakes $16 Million in Solana’s SOL Token for Creditor Payments
- Alameda Research unstaked approximately $16 million worth of Solana’s SOL token.
- The funds were moved to an address associated with creditor repayments, following a similar transaction about a month ago.
- SOL has a market capitalization of $47.26 billion, making it the seventh-largest cryptocurrency.
- As of now, SOL is trading near $82, significantly lower than its all-time high of $293 from January last year.
- Alameda still holds around 3.5 million SOL, valued at approximately $294.10 million.
This unstaking process is part of Alameda’s ongoing efforts to manage creditor repayments amid its restructuring process following bankruptcy proceedings.
The recent movement of $16 million in SOL reflects Alameda’s strategy to fulfill obligations to creditors as they continue to hold significant assets in the cryptocurrency market.(Source)
