FTX Token

Apple tokenized stock FTX

Key Points:<ul><li>FTX moves $36M of MATIC and AVAX to Binance amid ongoing liquidation.</li><li>MATIC and AVAX prices show signs of recovery after recent declines.</li><li>FTT token experiences a remarkable surge of over 30% in 24 hours.</li></ul>In the ongoing aftermath of FTX’s recent crash, the cryptocurrency exchange has executed a substantial movement of assets, transferring over $36 million worth of Polygon (MATIC) and Avalanche (AVAX) to the <a href="https://cryptosnewss.com/binance-at-crossroads-4-billion-doj-settlement-looms-amidst-allegations/" rel="noopener noreferrer nofollow">Binance</a> exchange in the past 24 hours. This strategic move is part of <a href="https://cryptosnewss.com/exploring-ftxs-350-million-asset-movement-and-its-implications-for-sol-and-eth/" rel="noopener noreferrer nofollow">FTX’s</a> broader initiative to liquidate crypto assets and address outstanding debts resulting from the recent market turmoil.<h2 id="header-0">FTX’s Asset Transfer Details</h2>According to <a href="https://twitter.com/lookonchain/status/1727166381781917908?t&#61;3o0k8vEF65X_5qQ9CkQ5dw&amp;s&#61;19" rel="noopener noreferrer nofollow">data</a> from Lookonchain, FTX recently initiated the transfer of approximately 26 million MATIC tokens, valued at around $17 million, and 975,000 AVAX tokens, amounting to approximately $19.25 million, to the Binance platform. This sizable transaction contributes to FTX’s overall asset movement exceeding $36 million within the last day.<h2 id="header-1">Polygon and Avalanche Price Trends</h2>Over the same period, Polygon experienced a notable decline of over 10%, settling at around $0.72 as of the close of trading on November 21st. This downturn extended a two-day drop of approximately 15%. Despite this, MATIC showcased signs of recovery, witnessing a price increase of over 4% to trade around $0.76 at the time of the latest update. The Relative Strength Index (RSI) indicated a potential upward trend, although it remained below the neutral line.Similarly, AVAX encountered a substantial decline of over 16% between November 20th and 21st. Nevertheless, there was a recovery phase in progress at the time of this report, with AVAX’s price surging by more than 5% to reach around $20. Notably, AVAX displayed a strong bullish trend, with its RSI surpassing 60%, setting it apart from MATIC._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/ftxs-36-million-asset-shuffle-matic-and-avax-exodus-to-binance/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on November 23, 2023.

FTX’s $36 Million Asset Shuffle: MATIC and AVAX Exodus to Binance

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