FTT Token May Ignite A Death Rally Soon For Major Altcoins And Stablecoins! Here’s Whats Happening
Binance CEO CZ announced the exchange is dumping their FTT holdings following revelations about the Alameda/FTX relationship
FTT's chart shows a coin in sharp decline, indicating strong selling pressure and a big loss of momentum.
Read More: https://coinpedia.org/price-analysis/ftt-token-may-ignite-a-death-rally-soon-for-major-altcoins-and-stablecoins-here-is-what-happening/
Binance CEO CZ announced the exchange is dumping their FTT holdings following revelations about the Alameda/FTX relationship
FTT's chart shows a coin in sharp decline, indicating strong selling pressure and a big loss of momentum.
Read More: https://coinpedia.org/price-analysis/ftt-token-may-ignite-a-death-rally-soon-for-major-altcoins-and-stablecoins-here-is-what-happening/
90% Of Ethereum (ETH) Was Wiped From the Main Wallet at FTX.
A large number of Ethereum (ETH) have been dumped from FTX. SBF issues clarification.
In just two days, the amount of #Ethereum held by #FTX fell from 322 k to 32 k. Once, the wallet was losing 500 ETH every minute. As a result of the continuous conflict between SBF, FTX, and C Z Binance, continue to expect sustained volatility.
In addition to FTT liquidation, users are withdrawing significant cryptocurrencies like Ethereum from the primary FTX wallet.
A large number of Ethereum (ETH) have been dumped from FTX. SBF issues clarification.
In just two days, the amount of #Ethereum held by #FTX fell from 322 k to 32 k. Once, the wallet was losing 500 ETH every minute. As a result of the continuous conflict between SBF, FTX, and C Z Binance, continue to expect sustained volatility.
In addition to FTT liquidation, users are withdrawing significant cryptocurrencies like Ethereum from the primary FTX wallet.
As Whales Continue To Sell, Retail Users Start To Accumulate Bitcoin
While regular investors with less than 1 BTC stockpile cryptocurrencies, whales with more than 10,000 BTC sell.
The graph below illustrates that Bitcoin has been in a dispersion phase since August, as indicated by the lighter hues. The longer-lasting hues, which can be seen in May, June, and July, signify accumulation periods.
Since mid-August, the marketcap leader in cryptocurrencies has been range bound, fluctuating between $18,000 and $22,000.
While regular investors with less than 1 BTC stockpile cryptocurrencies, whales with more than 10,000 BTC sell.
The graph below illustrates that Bitcoin has been in a dispersion phase since August, as indicated by the lighter hues. The longer-lasting hues, which can be seen in May, June, and July, signify accumulation periods.
Since mid-August, the marketcap leader in cryptocurrencies has been range bound, fluctuating between $18,000 and $22,000.
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The Currency of the World - #Bitcoin
Will Cryptocurrency Replace #Fiat Currency?
Fiat transactions must be verified by third parties, and maintaining these #financial systems is expensive.
The need to entrust someone else with your #money is brought on by these third parties. This confidence has frequently been broken.
#Cryptocurrency is plainly advantageous as a #currency and has limitless potential. One of the many conversations that have validity is the one about bitcoin replacing fiat currency, given all the attention being paid to digital assets, #cryptocurrencies, and the blending of realities.
Will Cryptocurrency Replace #Fiat Currency?
Fiat transactions must be verified by third parties, and maintaining these #financial systems is expensive.
The need to entrust someone else with your #money is brought on by these third parties. This confidence has frequently been broken.
#Cryptocurrency is plainly advantageous as a #currency and has limitless potential. One of the many conversations that have validity is the one about bitcoin replacing fiat currency, given all the attention being paid to digital assets, #cryptocurrencies, and the blending of realities.
A lengthy public war of words between two cryptocurrency exchange giants may come to an end as #Binance is now all set to acquire its rival #FTX.
Binance #CEO Changpeng Zhao (CZ) on November 8 said the exchanged has signed a non-binding letter of intent, planning to fully acquire FTX.
CZ stated that Binance will help FTX navigate its current “#liquidity crunch.”
However, the firms didn’t disclose the value of the deal, pending the due diligence process.
Overall, #SBF thanked CZ and Binance for their aid while dismissing “rumors” about media conflict between the two exchanges.
Binance #CEO Changpeng Zhao (CZ) on November 8 said the exchanged has signed a non-binding letter of intent, planning to fully acquire FTX.
CZ stated that Binance will help FTX navigate its current “#liquidity crunch.”
However, the firms didn’t disclose the value of the deal, pending the due diligence process.
Overall, #SBF thanked CZ and Binance for their aid while dismissing “rumors” about media conflict between the two exchanges.
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#Crypto Prices Plunge on Turbulent Day
The market cap of #cryptocurrencies plunged drastically on a volatile day in the markets for digital assets, falling by 7.2% at 908.2B
In terms of financial earthquakes, #FTX's liquidity issues and proposed acquisition by #Binance on Tuesday fell somewhere in the middle - moderate damage to the industry's reputation and price declines that sent bitcoin and other major #cryptos back to mid-October levels by 7.30% and 11.5%, respectively, at $18,274.23 and $1,305.51.
But #BIT token stood as top gainer in this RED market by 6.93% among top 100.
The market cap of #cryptocurrencies plunged drastically on a volatile day in the markets for digital assets, falling by 7.2% at 908.2B
In terms of financial earthquakes, #FTX's liquidity issues and proposed acquisition by #Binance on Tuesday fell somewhere in the middle - moderate damage to the industry's reputation and price declines that sent bitcoin and other major #cryptos back to mid-October levels by 7.30% and 11.5%, respectively, at $18,274.23 and $1,305.51.
But #BIT token stood as top gainer in this RED market by 6.93% among top 100.
Cathie Wood’s Firm Backs Coinbase Amid Market Crash
ARK claims it is purchasing 420,949 COIN shares for $21 million at current market prices. This happened just after Binance signed an agreement to buy FTX. Despite Coinbase's poor performance this year (down about 80% year on year, trailing bitcoin, which is down 62%).
Cathie Wood remains optimistic about the company and cryptocurrency in general. Wood has substantial personal holdings of bitcoin, stating that she purchased $100,000 worth of the digital currency in 2015 for $250, valuing her investment at $7.2 million at current values.
ARK claims it is purchasing 420,949 COIN shares for $21 million at current market prices. This happened just after Binance signed an agreement to buy FTX. Despite Coinbase's poor performance this year (down about 80% year on year, trailing bitcoin, which is down 62%).
Cathie Wood remains optimistic about the company and cryptocurrency in general. Wood has substantial personal holdings of bitcoin, stating that she purchased $100,000 worth of the digital currency in 2015 for $250, valuing her investment at $7.2 million at current values.
Sam Bankman-Fried lost his #billionaire status after seeing a 93% drop in his net worth in a single day.
The reduced estimate that takes away #SBF’s billionaire status comes as the native token of the #FTX exchange, #FTT, fell over 93% to a low of just $2.67 from a daily high of $20.47.
How will SBF rebuild his status?
Read More: https://lnkd.in/gxFSnvKz
The reduced estimate that takes away #SBF’s billionaire status comes as the native token of the #FTX exchange, #FTT, fell over 93% to a low of just $2.67 from a daily high of $20.47.
How will SBF rebuild his status?
Read More: https://lnkd.in/gxFSnvKz
🔹 Vitalik Buterin, a Russian-Canadian writer and #programmer who has been in #bitcoin since 2011, is known for inventing the #Ethereum blockchain & Cryptocurrency.
🔹 At 23, he was recognized on the Forbes Under 30 list when Ethereum's market value was about $30 bn and his wealth nearly $400 mn.
🔹 He was also named on Fortune 40 under 40 list -2016, #Fortune the ledger 40 under 40list -2018, and #TIME 100 -2021.
🔹 At 27, he became the world’s youngest crypto billionaire with a #net worth of $1.46 bn.
🔗 Read More: https://www.linkedin.com/feed/update/urn:li:activity:6996081714678693888
🔹 At 23, he was recognized on the Forbes Under 30 list when Ethereum's market value was about $30 bn and his wealth nearly $400 mn.
🔹 He was also named on Fortune 40 under 40 list -2016, #Fortune the ledger 40 under 40list -2018, and #TIME 100 -2021.
🔹 At 27, he became the world’s youngest crypto billionaire with a #net worth of $1.46 bn.
🔗 Read More: https://www.linkedin.com/feed/update/urn:li:activity:6996081714678693888
Tron's Justin Sun Says He's 'Putting Together Solution' for FTX
The #Tron cryptocurrency network's creator and Grenada's ambassador to the #WTO, Justin Sun, tweeted late on Wednesday that he and his team were "putting together a solution" with struggling #cryptocurrency exchange FTX, hours after Binance announced it would not proceed with a deal to acquire the company.
Sun's tweet lacked details that would have indicated whether this fix will save #FTX as a whole or just backstop the Tron-related coins that were traded on the #exchange.
A number of regulatory bodies, including the #SEC, the #CFTC, and the U.S. Department of Justice, have implied that they are looking into or expanding their #investigations into the firm.
The #Tron cryptocurrency network's creator and Grenada's ambassador to the #WTO, Justin Sun, tweeted late on Wednesday that he and his team were "putting together a solution" with struggling #cryptocurrency exchange FTX, hours after Binance announced it would not proceed with a deal to acquire the company.
Sun's tweet lacked details that would have indicated whether this fix will save #FTX as a whole or just backstop the Tron-related coins that were traded on the #exchange.
A number of regulatory bodies, including the #SEC, the #CFTC, and the U.S. Department of Justice, have implied that they are looking into or expanding their #investigations into the firm.
Why is Crypto Tanking After Nearly a Month of Stability?
The crash is likely due to the unfolding drama happening at #FTX. As a result of a significant #liquidity crisis at FTX, #Binance CEO CZ announced that Binance wouldn't #acquire FTX.
Global #crypto market cap fell by billions at $828.3 by 9.5%.
The world's largest #cryptocurrency #bitcoin is drowning by 11.3% to 16,278.02.
The crash is likely due to the unfolding drama happening at #FTX. As a result of a significant #liquidity crisis at FTX, #Binance CEO CZ announced that Binance wouldn't #acquire FTX.
Global #crypto market cap fell by billions at $828.3 by 9.5%.
The world's largest #cryptocurrency #bitcoin is drowning by 11.3% to 16,278.02.
🔹 Binance Vs Coinbase: Which #Exchange will you choose?
🔹 #Binance with a trading volume of $48.28 bn in the last 24 hrs, making it the top-ranked exchange ahead of #Coinbase at roughly $5.46 bn.
🔹 Coinbase made $7.8 bn in #revenue in 2021, a 550% increase from 2020, and Binance made $20 bn, almost 4 times from 2020.
🔹 Binance has valued at $300 bn in 2022 whereas Coinbase is at $18 bn.
🔗 Read More: https://www.linkedin.com/feed/update/urn:li:activity:6996352174641344513
🔹 #Binance with a trading volume of $48.28 bn in the last 24 hrs, making it the top-ranked exchange ahead of #Coinbase at roughly $5.46 bn.
🔹 Coinbase made $7.8 bn in #revenue in 2021, a 550% increase from 2020, and Binance made $20 bn, almost 4 times from 2020.
🔹 Binance has valued at $300 bn in 2022 whereas Coinbase is at $18 bn.
🔗 Read More: https://www.linkedin.com/feed/update/urn:li:activity:6996352174641344513
Release of Binance's $69 billion cryptocurrency reserve's wallet addresses.
A day after abandoning plans to purchase the insolvent cryptocurrency exchange FTX, Binance published a rundown of its cold wallet and reserves.In the upcoming weeks, the exchange promised to disclose its evidence of money.
The cryptocurrency exchange claims to have over 475,000 bitcoin ($7.8 billion), 4.8 million ether ($5.57 billion), and numerous other digital currencies.
Based on current market prices, the market value of the reserves mentioned as a whole was estimated to be roughly $69 billion.
A day after abandoning plans to purchase the insolvent cryptocurrency exchange FTX, Binance published a rundown of its cold wallet and reserves.In the upcoming weeks, the exchange promised to disclose its evidence of money.
The cryptocurrency exchange claims to have over 475,000 bitcoin ($7.8 billion), 4.8 million ether ($5.57 billion), and numerous other digital currencies.
Based on current market prices, the market value of the reserves mentioned as a whole was estimated to be roughly $69 billion.
Following Justin Sun's Appearance as the Newest "Would Be" FTX Savior, TRX Briefly Increases by 4,000% on FTX.
Even while the native #TRX token of the Tron network trades for 6 cents on other well-known exchanges like Binance and #OKX, it briefly increased by around 4,000%, from 6 cents to $2.5, on the struggling cryptocurrency market #FTX.
This came after a different Sun tweet from yesterday. In order to protect our users, he promised, "we would take every precaution possible, including exchanging all #TRX, #BTT, #JST, #SUN, and #HT on the FTX platform at a 1:1 ratio."
Even while the native #TRX token of the Tron network trades for 6 cents on other well-known exchanges like Binance and #OKX, it briefly increased by around 4,000%, from 6 cents to $2.5, on the struggling cryptocurrency market #FTX.
This came after a different Sun tweet from yesterday. In order to protect our users, he promised, "we would take every precaution possible, including exchanging all #TRX, #BTT, #JST, #SUN, and #HT on the FTX platform at a 1:1 ratio."
Major #cryptocurrencies were trading in the green early on November 11 as the global #crypto market cap increased 4.68% to $869.62 billion, over the last day. On the other hand, the total crypto #market volume dropped 26.74% to $140.9 billion over the last 24 hours.
The price of #bitcoin hovered around $17,000, with a #dominance of currently 38.2%, which is a decrease of 0.24 percent over the day.
The price of #bitcoin hovered around $17,000, with a #dominance of currently 38.2%, which is a decrease of 0.24 percent over the day.
The Sudden Fall of FTX Empire: Here’s The Complete Story!
The last five days have been critical for the entire cryptocurrency space.
One “controversial report” downsized the global cryptocurrency market cap from $1.04 Trillion to straight $885.19 Billion (at present).
Read More : https://coinpedia.org/news/the-sudden-fall-of-ftx-empire-heres-the-complete-story/
The last five days have been critical for the entire cryptocurrency space.
One “controversial report” downsized the global cryptocurrency market cap from $1.04 Trillion to straight $885.19 Billion (at present).
Read More : https://coinpedia.org/news/the-sudden-fall-of-ftx-empire-heres-the-complete-story/
When do you anticipate that the #crypto market will become #bullish once more? 📈
Anonymous Poll
31%
Next Week
13%
Next Month
56%
Next Year
Prices for Bored Ape Yacht Club NFT Fall When FTX Wrecks the Cryptocurrency Market.
The announcement of FTX's liquidity problem has the cryptocurrency market in a state of upheaval.
The NFT market has been shaken by this crisis, which has caused panicked selling of NFTs. The "floor price" of Bored Ape Yacht Club NFTs has substantially decreased.
The market price of Bored Ape Yacht Club NFT is 56.37 ETH. This is a 7% decrease in ETH during the previous 24 hours. But given that ETH's value is falling (down 13% this week).
The announcement of FTX's liquidity problem has the cryptocurrency market in a state of upheaval.
The NFT market has been shaken by this crisis, which has caused panicked selling of NFTs. The "floor price" of Bored Ape Yacht Club NFTs has substantially decreased.
The market price of Bored Ape Yacht Club NFT is 56.37 ETH. This is a 7% decrease in ETH during the previous 24 hours. But given that ETH's value is falling (down 13% this week).