Is the value of SOL at risk? $449 Million Worth Solana Unstaked

Solana Compass recently provided insights into Solana (SOL) network activity, particularly in the 512 period.

According to a website that tracks SOL's stock activity, approximately 19.637 million SOL tokens were not covered during this period.

Recently Epoch 512, 19.637 million SOL was unsold, net 16.516 million SOL (about 372 million dollars). Most of the a16z and former alameda (now or ftx estate) were.

a16z: BZpEFk…oPPBm7 unoccupied 5.006 million SOL, a16z-2: GCmFQL…ozXMwY unoccupied 2.033…

— Wu Blockchain (@WuBlockchain) October 6, 2023

Millions of dollars worth of SOL unclaimed

These tokens are worth approximately $449 million at current prices. When you factor in the addition of reserved tokens, the net unliquidated amount comes to 16.516 million SOL, which is approximately $380 million.

In particular, notable entities such as Andreessen Horowitz, also known as a16z, have contributed significantly to the asset base on the Solana network. At Solana Compass, a16z was out of stock for about 7 million SOL at the end of Epoch 512.

In addition, three accounts suspected of belonging to the broken crypto exchange FTX and its sister company Alameda Research held 2 million, 4.5 million and 3 million SOL shares in the same period.

The SOL value remained stable between SBF trials.

SOL's unstaking comes as the crypto world faces the ongoing trial of former FTX founder and CEO Sam Bankman-Fried (SBF), accused of wire fraud and money laundering.

Although Solana is affiliated with the successful FTX crypto exchange, several validating clients, including Gito Labs, which has a 31% stake, have reportedly increased the staking ratio on the platform to over 70%.

At the same time, the price of SOL has increased by more than 13% in the last seven days, according to CoinGecko. However, in the last 24 hours, as the Bankman-Fried test enters its third day, SOL's price seems to have been slightly affected, losing almost 2% of its value.

It remains to be seen how much more impact the unclaimed SOL will have on the token's price, with many market observers expecting a majority sell-off.