Alameda Unstakes $23M SOL—Is Solana Facing a Major Selloff?

These wallets now hold $178.82 million in SOL, yeah that’s a lot of money. Large unstaking events have always put downward pressure on Solana’s price. If these assets hit exchanges it will confirm the sell speculation and Solana will go to new lows.

Back in March Solana whales unstaked almost $1 billion and the price got crushed. Will this latest move do the same?

Alameda Research has unstaked $23 million in Solana tokens, redirecting them to 38 wallets linked to FTX. This move comes amid ongoing market challenges, keeping SOL's price and demand mostly stagnant. #Solana #FTX #CryptoNews

— FartFy News (@fartfy_news) March 13, 2025

Solana Nears Critical “Death Cross”

Adding to the bearishness Solana is about to have a death cross—when the 50-day moving average crosses below the 200-day moving average. This is a super strong sell signal.

Historical data shows the risks:

• 2022’s first death cross resulted in a 90% price crash after FTX collapsed.

• The second death cross started another big decline before the “Trump pump”

Solana is currently at $126.53—down 15% this week. If this is the third death cross, the price will go even lower.

CRYPTO NEWS: Alameda Research has released $23 million worth of $SOL, distributing it across 38 newly created addresses. Together, these addresses now possess almost $178 million in #Solana tokens.

— Crypto News (@CryptoN3ws) March 13, 2025

Solana’s Trading Volume Declines

And to top it all off daily volume is down 22.71% in the last 24 hours at $4.1 billion. When volume is down for a sustained period it means everyone is losing confidence and there’s no demand.

Despite the short term chaos some still think Solana is good long term. They say it’s high speed blockchain and lower fees will be a competitor to Ethereum. But short term price will depend on if Alameda’s unstaked SOL hits the market.

For now, investors are proceeding with caution, with all eyes on exchange inflows as the next critical signal for Solana’s price trajectory.