After the developments surrounding one of the largest размјене криптовалута sent shockwaves across the крипто сектор, most of its participants continue to count their losses, with the market as a whole losing tens of billions of dollars.
As it happens, the carnage following the ФТКС drama has inflicted a grievous wound to the crypto market capitalization, bleeding it by more than $100 billion in a day, as per data retrieved by Финболд од ЦоинМаркетЦап у новембру КСНУМКС.
Specifically, the global crypto market has dropped from $983 billion to $880 billion during the previous 24 hours, which means it has lost $103 billion or more than 10% during this period and $110 billion across the week.
Notably, the most significant decline happened hours after it became known that FTX was on the verge of collapse, with the market plummeting from its highest point of $1.027 trillion to as low as $827 billion.
Crisis begins
As a reminder, the crisis began after it was revealed that the balance sheet of Sam Bankman-Fried’s trading firm Alameda Research mainly consisted of the FTX Token (FTT), demonstrating a close connection between the two parts of his business empire.
In response to this revelation, Бинанце liquidated $500 million worth of FTT on November 6, putting FTX in a bit of a liquidity crunch, and initiating some bickering on Twitter between the two, which OKX CEO упозорио could have devastating consequences.
As a result, the FTX token sank as much as 80% in a single day, wiping almost $2.5 billion from its market cap, as Finbold earlier reported.
Криза спречена?
However, in a surprising turn of events, Binance посегнуо to its competitor on November 8 by making a non-abiding agreement to acquire FTX in a bid to help it recover and stop the crisis from spreading across the industry after the crypto exchange asked for assistance.
That said, the damage already seems to be done, as the effects of the crisis have spilled over onto all other assets, including Bitcoin (BTC), which has dropped more than 9% on the day and is now trading at $17,917.
It remains to be seen how much Binance’s most recent actions will help alleviate these consequences as uncertainty continues to surround the market.
odricanje: Садржај на овом сајту не треба сматрати саветом за инвестирање. Улагање је шпекулативно. Када инвестирате, ваш капитал је у опасности.
Source: https://finbold.com/crypto-market-bleeds-out-100-billion-in-ftx-drama-aftermath/