Three months due to upcoming FTX liquidations, according to analytics firm Messari altcoin It is possible for ‘s price to decrease.
Top meme assets worth $37M held by Messari, FTX and Alameda dogecoin (DOGE) has $33 million worth of blockchain-based operating system Tron (TRX) and $22 million worth of scaling solution Polygon (MATIC). states.
The relevant figure is not the absolute value of tokens held, but the amount of each asset relative to its actively traded volume. For example, FTX/Alameda’s BTC holdings ($353 million) are about 1% of BTC’s weekly trading volume, meaning the market can absorb most of the selling, and the same goes for ETH.
However, for DOGE, TRX and MATIC, which are much less liquid, the $20~30 million FTX holds represents 6-12% of weekly volumes and could have a much higher impact on the market.”
NEWS CONTINUES BELOW
DOGE is trading at $0.0613 at the time of writing. The 9th ranked altcoin by market capitalization has increased by over 1.5% in the last 24 hours.
TRX is trading at around $0.0815 at the time of writing. The 11th ranked altcoin by market capitalization has increased by more than 5% in the past day.
MATIC It is trading at $0.511 at the time of writing this news. The altcoin, which ranks 14th by market capitalization, increased by 1.75% in the last 24 hours.
Messari also says that Alameda owns layer-1 blockchain Solana (SOL) worth $720 million and layer-1 blockchain Aptos (APT) worth $66 million, but the firm says these assets mostly consist of vesting coins and It states that it will be liquidated gradually, which will likely reduce price impacts.