FTX, Alameda and Solana Ecosystem

In recent days, the cryptocurrency market experienced one of its darkest days in the history because of FTX Exchange and Alameda Research company (both foundend and managed by Sam Bankmank-Fried) crisis. many tokens have experienced massive decrease in their price including Bitcoin that has dropped of to $16000 for a while.

Because of heavy investment of Alameda Research on SOL, This token has experienced one of its highest drop in price to the extent that in just 2 days, SOL price has decreased from $38 to $12!

The epic comedown of Sam Bankman-Fried’s FTX crypto exchange and Alameda Research trading firm is making waves in the market for the Solana blockchain’s SOL token – to the point where some investors have apparently become so nervous that they’re demanding back tokens they had “staked” or deposited into the blockchain’s underlying security protocol. Earlier this week, when concerns started to grow over the state of the two businesses’ finances, crypto market analysts began to speculate that Alameda might need to sell some of its SOL tokens to raise liquidity. The fears sent the SOL price tumbling – as traders rushed to get ahead of the selling pressure.

Apparently, the dynamic has risen to another level: Solana validators who provide security to the blockchain were set to unlock nearly $800 million worth of their SOL holdings as the end of the token lock-in period known as “Epoch 370” approaches.

“A reduction in the amount of SOL staked might indicate that investors are looking to sell all or part of their position,” Sean Farrell, head of digital asset strategy at research firm FundStrat wrote in a note on Tuesday evening following the bailout news. “Due to these factors, we think it is wise to reduce exposure to Solana (SOL) in the immediate term.”

Solana Compass’ blockchain data showed that about 55 million SOL tokens, worth around $776 million, are scheduled to unlock. There’s about 76% of eligible SOL tokens currently being staked on the blockchain. The scheduled unlocked tokens represent around 15% of the token’s circulating supply in a single unlock.

Solana’s price drop accelerated Tuesday as the giant crypto exchange Binance first said it intended to buy FTX and continued Wednesday as CoinDesk reported that Binance was leaning toward not completing the takeover. Last week, CoinDesk reported that a copy of Alameda's balance sheet showed that the firm held $292 million of “unlocked SOL,” $863 million of “locked SOL” and $41 million of “SOL collateral.”

SOL’s funding rates sharply dropped as low as -4% on Wednesday in anticipation of the unlock, according to Coinglass. FundStrat’s Farrell said he expected there is an ability for the Solana ecosystem to “eventually recover and remove itself from Alameda’s shadow.” “But the current liquidity overhang is quite substantial,” he said.

hz5alvpkscnwoe9yzwxblrqa3qzhjivbgtfcimekk8m5 had the highest Unstake volume and the stake volume of UefNb6z6yvArqe4cJHTXCqStRsKmWhGxnZzuHbikP5Q is way higher than all other users.

Conclusion

Lido and Marinad are the top SOL stock pools with the most number and volume of actions over the past 10 days . we can see that the most volume of shares during the last week belongs to the Lido pool, while the activity in Marinade is more at risk/deposits as well as claiming prizes and cancellation orders.

the majority of Stake and Deposit actions during the past 10 days (in both terms of number and volume) belong to the Marinade stake pool.

There was a high spike of stake activity during 8th and 9th November but after these dates, we can see quite decreasing number and volume of stake actions on pools.

Similar to the stake and unstake behaviors, we can see increasing number and also volume of swap transactions on the Solana ecosystem after 8th November and with the highest spike (similar to the Stakes) on the 10th November.

Moreover, on the 2 other charts, we can see the average daily volume of Unstake and WIthdrawals and also Claiming reward actions is way more than stake and deposits. but, the average daily number of deposit/stake actions and its users is more than other type of actions.

What is Solana staking and how can I benefit from it?

Staking your Solana is a great way to earn passive income in the form of staking rewards. Rewards are paid out in SOL.

With Solana, staking means you agree to lock up an amount of SOL that you choose for a period of time, during which it is unspendable. However, your SOL never leaves your wallet, and you can unstake your SOL whenever you choose. You will only have to wait for a few epochs to send or exchange your funds.

By staking your SOL, you actively support the Solana network by allocating resources to it and contributing to the stability of the network. In return for your support, you earn SOL as a reward! Learn more

we can see increasing number and also volume of swap transactions on the Solana ecosystem after 8th November and with the highest spike (similar to the Stakes) on the 10th November.