Is Coinbase or Binance the Next Stop?

• FTX/Alameda’s staking address regularly redeems ~170K SOL monthly, impacting exchanges.  
• Alameda actively deposits WLD to Binance, with 23.44M WLD still held for gradual liquidation.  
• SOL movements raise concerns about liquidity and potential price impact on exchanges.

An FTX/Alameda-linked staking address, H4y…gFZ, moved 178,631 SOL, worth approximately $28 million. Analysts expect these funds to be distributed across multiple addresses, with the majority likely ending up on major cryptocurrency exchanges like Coinbase and Binance.

This continues a pattern where the address regularly redeems and transfers roughly 170,000 SOL between the 12th and 15th of each month.

Consistent SOL Withdrawals from FTX/Alameda Staking Address

The address currently holds 7.09 million SOL, valued at approximately $1.107 billion, in staking. This address consistently redeems and transfers SOL monthly, with transactions typically occurring between the 12th and 15th.

This latest withdrawal saw 178,631 SOL moved as part of its regular activity. Based on previous transfer records, analysts expect these funds to be redistributed to multiple addresses, with most eventually flowing into Coinbase or Binance. Such large movements of SOL are drawing attention within the crypto community due to their potential impact on the liquidity and price of SOL on exchanges.

Read also : FTX and Alameda Unstake Over $1 Billion in Solana, Impacting SOL Price

This withdrawal is similar to a transaction from September 2024. On September 12, the same address redeemed 177,693 SOL, valued at $23.75 million, and distributed the funds to around 20 different addresses. 

Alameda’s Ongoing Fund Movements Include Worldcoin (WLD) Sales

In addition to SOL-related activity, Alameda Research has been actively managing its portfolio, with frequent transactions involving other cryptocurrencies. Alameda has been depositing 143,770 WLD (Worldcoin), worth $265,000 per transaction, into Binance weekly for the past two months. 

Since August 2024, Alameda has deposited 1.56 million WLD, valued at $2.51 million, in 10 batches at an average price of $1.605. With 23.44 million WLD still in its holdings, valued at $43 million, Alameda could take over three years to fully liquidate its WLD assets at the current rate.