Coin Gabbar Token

<ul><li>Alameda Research, a trading firm, and FTX, Sam Bankman&#39;s cryptocurrency exchange, both have significant liquidity problems. CEO Chanpeng &#34;CZ&#34; Zhao of cryptocurrency exchange Binance has decided to purchase FTX due to a lack of liquidity.</li><li>In an effort to stop the depreciation of the FTX Token, Alameda is also selling up its Solana (SOL) tokens (FTT). On-chain information indicates that Alameda will dump several coins, including MATIC from Polygon.</li></ul><h2 id="header-0">As the price of the FTT token dropped by over 78%, FTX&#39;s Alameda Research may dump additional Solana (SOL), MATIC, and stablecoins.</h2>The trading company Alameda Research and Sam Bankman-cryptocurrency Fried&#39;s exchange <a href="https://www.coingabbar.com/en/crypto-currency/ftx-token-ftt-prices-usd" rel="noopener noreferrer nofollow">FTX </a>are both experiencing serious liquidity issues. Due to the liquidity shortage, CEO Chanpeng &#34;CZ&#34; Zhao of cryptocurrency exchange Binance has agreed to buy FTX. Alameda is also selling off its Solana (SOL) tokens to stem the decline of the FTX Token (FTT). According to on-chain data, Alameda will dump a number of tokens, including MATIC from Polygon.Alameda Fires MATIC Following Solana (SOL)After Binance CEO &#34;CZ&#34; proposed selling all FTT holdings in the upcoming months, FTX subsidiary Alameda Research began dumping Solana (SOL) tokens. The action caused traders to begin unloading their FTT positions, which resulted in a severe liquidity crisis on FTX.The Ethereum (ETH) reserve has dropped to its lowest levels since November 2021, and Alameda and other FTX subsidiaries have begun sending ETH and stablecoins to the cryptocurrency exchange. Many consumers stated that Bitcoin withdrawals took 5 to 10 hours to complete. In the midst of a general market selloff, FTT token also fell 20%.To stop the price of FTT tokens from falling any further, Alameda started selling Solana (SOL) tokens. Through Alameda, Sam Bankman-Fried held SOL tokens valued over $1.2 billion; today, the value is just over $500 million. SOL&#39;s price dropped more than 35% in the previous day, reaching a low of $16.47. According to Solana Compass, the company will sell additional tokens as 47.28 million SOL tokens will be released each day.The cryptocurrency trading company has given <a href="https://www.coingabbar.com/en/crypto-currency/binancecoin-bnb-prices-usd" rel="noopener noreferrer nofollow">Binance </a>2.97 million MATIC tokens valued 2.9 million. Added MATIC tokens could be dumped by Alameda. According to analysts, the support level of $0.60 may once again be reached by the MATIC price. Investors should monitor the MATIC price because Alameda&#39;s dump could result in selling akin to what happened in Solana.Stablecoins, ETH, BIT, and FTT tokens are among the $150.53 million worth of assets that Alameda has stored in wallets. It contains substantial quantities of the tokens SRM, OP, MATIC, MASK, SAND, and FTM. As a result, Alameda may decide to dump these tokens.Price of MATIC Drops Below $1Due to a market-wide selloff, Polygon&#39;s <a href="https://www.coingabbar.com/en/crypto-currency/matic-network-matic-prices-usd" rel="noopener noreferrer nofollow">MATIC </a>price decreased to below $1. At $0.89, the MATIC price has decreased by more than 21% in the previous day. The 24-hour low and high are, respectively, $0.874 and $1.03.As the price of Solana fluctuated by almost 10% in a single hour, it became erratic. SOL is currently trading for $18.4.

Soon after Solana, These Crypto Will Be Dumped (SOL)

Table of Contents

Coingabbar

Other articles published on Nov 16, 2022

Time for giveaway on p2p.bit.team!

What is Blockchain Technology?

Updates To The Wicrypt Network Staking Criteria

[Announcement] NEOPIN x LILLIUS Exclusive Utility NFT Airdrop Event Notice

Quidd Collector’s Council Meeting Notes — November 8th, 2022

How will Artificial Intelligence Impact Software Development?

Join our free newsletter for daily crypto updates!