FTX and Alameda’s recent unstaking of Solana hasn’t spooked markets — at least not yet. Onchain Lens flagged a fresh transaction linked to wallets controlled by the now-defunct FTX and its trading arm Alameda Research: 195,669 SOL — roughly $28 million at the time — was unstaked. That move is part of a steady monthly unstaking cadence that began in November 2023. To date, more than 8 million SOL (near $1 billion) has been unstaked from the network, and about 4.048 million SOL — approximately $620 million — still sits unstaked and potentially transferrable. There’s no public confirmation that these newly unlocked SOL tokens are being sold, but precedent matters: past unstaking from FTX-related wallets has often preceded transfers to centralized exchanges for controlled liquidation. That makes a sell-off a realistic risk, even if it hasn’t materialized so far. On-chain flows and market metrics help explain why the impact has been muted. Over the past three days, capital inflows have outpaced outflows, helping absorb the added supply. Solana’s Total Value Locked (TVL) — a gauge of assets staked or deposited on the network — climbed from a recent low of $8.841 billion on January 11 to $9.028 billion after $187 million in fresh deposits, per DeFiLlama. Meanwhile average daily trading volume across those three days held around $4.186 billion, signaling steady participation rather than a panic dump. Still, spot exchange netflow data shows $17.466 million worth of SOL moved into centralized exchanges — a typical precursor to selling. AMBCrypto notes it could not independently verify how much of that inflow came from FTX’s unstaked holdings. Retail-driven selling appears to have contributed: between January 8 and press time, daily netflows generally skewed toward outflows to exchanges, with January 12 as the lone exception, according to CoinGlass. That pattern suggests many spot traders remain on the sidelines and sellers currently have the edge. Technically, Solana’s chart tells a more optimistic story. Price action has formed a cup-and-handle pattern — a setup that often precedes breakouts — with a key resistance band between $142.10 and $142.80. A decisive push above that zone would validate the pattern and could open the way toward the $169 level last seen in December. Momentum metrics line up with that view: the Money Flow Index (MFI) sits at about 73.7, in bullish territory, indicating robust capital inflows. If MFI holds inside a 50–80 range, it would reinforce the case that buyers remain active and ready to defend higher prices. Bottom line: the unlocked supply from FTX/Alameda represents a clear overhang, but recent on-chain inflows, healthy TVL growth, and steady trading volumes have so far blunted downside risk. Watch exchange netflows and whether unstaked SOL lands on centralized exchanges — that will be the clearest signal that a liquidation event is underway. Sources: Onchain Lens, DeFiLlama, CoinGlass, TradingView. Note: This article is informational and not investment advice. Cryptocurrency trading carries high risk; do your own research before making decisions. © 2026 AMBCrypto Read more AI-generated news on: undefined/news