Crypto Fear Returns as FTX Moves to Dump More Tokens; Is Bitcoin Price at Risk?
- FTX recently moved $3.32 million in tokens to Coinbase, Binance, and FalconX.
- Over the past week, FTX sent 21 tokens worth $15.1 million to exchanges.
- FTX’s recent sell-offs saw Bitcoin in the $38K region.
Speculation has emerged that the crypto market could be at risk of another significant selling pressure amid the movement of millions of dollars by bankrupt FTX entities to liquid platforms for a potential liquidation.
Market tracker Spot On Chain recently disclosed via social media platform X that wallets associated with FTX and Alameda have moved eight tokens to centralized exchanges Coinbase, Binance, and FalconX. Per the disclosure, the moved tokens are worth $3.32 million, which occurred within the last 24 hours.
#FTX and #Alameda moved out $3.32M worth of 8 tokens ~5hrs ago:
— Spot On Chain (@spotonchain) February 6, 2024
• 1K $ETH ($2.3M) to #Coinbase
• 4.43M $ALPHA ($411K) to #Binance
and $609K in $POWR, $SNT, $OXT, $RLC, $NMR, $NEXO to #Coinbase & #FalconX.
Overall, they unloaded $15.1M in 21 assets to CEX in the past week… pic.twitter.com/n3geZiqKjB
Notably, Ethereum (ETH) tokens accounted for the largest share of the assets the bankrupt…
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Crypto Fear Returns as FTX Moves to Dump More Tokens; Is Bitcoin Price at Risk?
- FTX recently moved $3.32 million in tokens to Coinbase, Binance, and FalconX.
- Over the past week, FTX sent 21 tokens worth $15.1 million to exchanges.
- FTX’s recent sell-offs saw Bitcoin in the $38K region.
Speculation has emerged that the crypto market could be at risk of another significant selling pressure amid the movement of millions of dollars by bankrupt FTX entities to liquid platforms for a potential liquidation.
Market tracker Spot On Chain recently disclosed via social media platform X that wallets associated with FTX and Alameda have moved eight tokens to centralized exchanges Coinbase, Binance, and FalconX. Per the disclosure, the moved tokens are worth $3.32 million, which occurred within the last 24 hours.
#FTX and #Alameda moved out $3.32M worth of 8 tokens ~5hrs ago:
— Spot On Chain (@spotonchain) February 6, 2024
• 1K $ETH ($2.3M) to #Coinbase
• 4.43M $ALPHA ($411K) to #Binance
and $609K in $POWR, $SNT, $OXT, $RLC, $NMR, $NEXO to #Coinbase & #FalconX.
Overall, they unloaded $15.1M in 21 assets to CEX in the past week
Notably, Ethereum (ETH) tokens accounted for the largest share of the assets the bankrupt…
The post Crypto Fear Returns as FTX Moves to Dump More Tokens; Is Bitcoin Price at Risk? appeared first on Coin Edition.
Read More