Alameda Triggers $17M Solana Unstaking As Creditor Liquidations Resume

Alameda Research was once one of the most influential trading firms in the cryptocurrency industry. Founded by Sam Bankman-Fried, the company operated as a quantitative trading desk closely tied to the FTX cryptocurrency exchange. Alameda played a major role in providing liquidity across digital asset markets and maintained large positions in several major cryptocurrencies, including Solana.

However, the firm collapsed in November 2022 following the dramatic failure of FTX. Investigations revealed that billions of dollars in customer funds had been misused and transferred between the exchange and Alameda, triggering a liquidity crisis that quickly spiraled into one of the largest bankruptcies in crypto history.

The presence of such a large balance introduces a persistent element of potential supply overhang. As bankruptcy administrators continue distributing assets to creditors, portions of these holdings may periodically enter the market. This process does not necessarily translate into immediate selling pressure, but it can influence trader sentiment because investors often anticipate that distributed tokens could eventually be liquidated.

At the same time, Solana’s broader market structure reflects the cautious environment affecting the cryptocurrency sector. Like many large-cap altcoins, SOL has been trading in a consolidation phase following periods of volatility across the digital asset market. Liquidity remains selective, and investors are increasingly focused on assets with strong ecosystem activity and sustained network usage.

For Solana, this environment creates a mixed dynamic. While ongoing creditor distributions represent a potential supply factor, the network continues to maintain high on-chain activity and developer engagement, which remain key drivers supporting long-term interest in the asset.

The chart shows Solana trading around the $86 level after experiencing a significant corrective phase that began in late 2025. Earlier in the cycle, SOL reached highs above the $240 region before momentum weakened and the asset entered a prolonged downtrend characterized by consistent lower highs and lower lows.

From a technical perspective, Solana remains under pressure as price continues to trade below its key moving averages. The short-term trend indicator has been trending downward for several months, while the medium-term and long-term moving averages remain positioned well above the current price. This configuration typically reflects a market that is still in a broader corrective structure.

The most aggressive move occurred in early February 2026, when SOL experienced a sharp sell-off that pushed the price briefly below the $80 level. The drop was accompanied by a strong surge in trading volume, suggesting heightened market stress and possible liquidation activity.

Following that decline, however, Solana has begun to stabilize. Price action is currently consolidating within a relatively narrow range between roughly $80 and $92, indicating that buyers are attempting to defend the lower support zone.

For the moment, the $80 region appears to be acting as a key support level, while the $100 area represents the first major resistance barrier for any potential recovery attempt.

Featured image from ChatGPT, chart from TradingView.com