Alameda Research’s bankruptcy estate has sent out another batch of Solana to creditors, continuing a repayment process that has now stretched close to two years.
This latest distribution was worth about $15.6 million in SOL. Blockchain data tracked by Arkham shows the tokens were sent to 25 different addresses as part of the ongoing monthly payout plan.
The repayments began after the collapse of FTX and its trading arm, Alameda Research. Over the past 21 months, the estate has been gradually returning assets to creditors.
Even after this latest transfer, Alameda-linked wallets still hold around $315 million worth of SOL on-chain. That makes the estate one of the largest known holders of Solana tied to the failed exchange group.
Every time a new batch of SOL moves, traders start asking the same question: will it be sold right away?
Arkham openly raised that concern again, wondering whether the newly distributed tokens would be “SOLd” straight into the market. The fear is simple — if large amounts are sold quickly, it could put downward pressure on the price.
So far, most of Alameda and FTX’s massive SOL holdings were already sold in 2024 through over-the-counter (OTC) deals. These private sales were structured to avoid shocking the open market.
Roughly 43 million SOL was sold across three major tranches last year. About 26 million SOL went for $64 per token to firms like Galaxy, Pantera, Jump, and Multicoin. Another 14 million SOL was sold at $95 through a Pantera-led group. A final 2 million SOL changed hands at $102 in a deal involving Figure Markets and Pantera.
Since those large OTC sales, the remaining distributions have been handled more slowly. The steady pace suggests the estate is trying to balance creditor repayments with market stability.
Still, with more than $300 million worth of SOL left in wallets connected to Alameda, the market continues to watch closely. Solana has already seen price swings in recent months, trading in the low-to-mid $80s to low $90s range after pulling back from higher levels earlier in 2025.
For now, the repayments continue — and so does the debate over how much impact they could have on Solana’s price in the months ahead.
