A massive dump is expected in just 3 days!
🚨 FTX is likely to get approval to liquidate its assets on Sep. 13.
FTX had $5.5B in liquid crypto; here's how it will impact market 🧵👇
Significantly, the defunct cryptocurrency trading platform has put forward a plan to sell off more than $3 billion worth of reclaimed cryptocurrency assets, which has raised fresh concerns among investors.
There is growing apprehension that this substantial liquidation, looming on the horizon, might further compound the difficulties already faced by cryptocurrencies that are struggling, potentially leading to an 'imminent $3 billion liquidation' scenario.
According to the estimates revealed in January, FTX’s cryptocurrency holdings amount to $685 million in locked Solana (SOL) tokens, $529 million in FTT, $268 in BTC, $90 million in Ethereum (ETH), and $42 million in Dogecoin (DOGE), among others.
