Defunct Crypto Exchange FTX Rumored to Begin Liquidating Assets

September 13, 2023

Introduction

FTX, a defunct crypto exchange, is rumored to start liquidating its assets this week. Traders are concerned about the potential impact on the crypto market, as FTX holds significant amounts of popular cryptocurrencies like Solana, Ethereum, Dogecoin, and Aptos.

Investors Turn to Bitcoin and Bitcoin BSC

• Investors are seeking safe-haven assets and are moving into Bitcoin.
• They are also farming yield on new cryptocurrencies like Bitcoin BSC, which offers over 400% APY.

FTX to Sell $3.4 Billion in Crypto Assets

According to Fomocap, a widely-followed crypto analyst, FTX holds $3.4 billion worth of cryptocurrency assets. The exchange may receive approval to begin liquidating its holdings, selling off up to $200 million per week.

Ethereum and Solana Overshadowed by Fear-Driven Market Dynamics

Despite positive news about a possible spot Ether ETF and Visa adding support for Solana, Ethereum and Solana are facing fear-driven market dynamics. FTX holds $90 million worth of ETH and $685 million worth of SOL.

Bitcoin as a Strong Investment Option

While most altcoins are in the red, Bitcoin remains a strong investment option as a safe haven asset. BTC has corrected by just 0.4% in the past two weeks, while Ethereum is down by more than 1.6%. FTX holds $268 million worth of Bitcoin, which may not significantly affect its overall market cap.

Bitcoin BSC Offers Over 400% APY

Investors are diversifying into new presale tokens like Bitcoin BSC, which is not yet listed on exchanges. Bitcoin BSC is a greener alternative with lower gas fees and currently offers over 400% APY to stakers.

Bitcoin BSC Presale Success

Bitcoin BSC has gained significant attention and raised over $1.05 million since its launch on September 5th. It has been featured on various media outlets and is one of the fastest-growing new cryptocurrency projects.

Disclaimer

This article is sponsored content and should not be considered financial advice. Readers are advised to verify information independently and consult a professional before making any investment decisions.