While the balance sheet discussions between Binance and FTX continue, the on-chain data that emerged after Binance will liquidate FTX tokens (FTT) shed a clearer light on the behind the scenes of the event.
Binance CEO as of yesterday of CZ all stock market FTT The announcement that he will liquidate his tokens created a shock wave in the markets. FTX connected Alameda Research’s Referring to the FTT density and inconsistency on its balance sheet, CZ addressed the FTX front. by lobbying blamed. More information about the big picture was shared as a result of the analyzes and data researches made after the mutual bickering of both sides.
On-chain analytics platform nansen Cryptocurrency exchanges after the chaos environment last night, according to data provided by Gate.io, Huobi, OKX and KuCoin Money outflows were seen from hot wallets belonging to Alameda. According to Nansen data only from KuCoin 300 million dollars close asset exit.
Blockchain security platform According to PeckShield Jump Trading, from FTX in the last 24 hours 40.4 million USD Coins (USDC) pulled. Assets withdrawn from FTX were transferred to Jump Trading’s Nexo platform.
On-chain data provider CryptoQuant if FTX Ethereum (ETH) drew attention to the serious decrease in its reserves. ETH reserves of FTX according to data November 2020It fell to its lowest level since. ETH reserves of FTX 300,000 down as 108,246 went on the record. FTX on ETH hourly shooting volumes broke records. Also, FTX’s stablecoin reserves serious decline lived. FTX stablecoin reserve in 2 weeks, according to CryptoQuant decreased by 93%.
After these news from Binance and FTX fronts, there were huge fluctuations in the price of FTT within minutes. This event, which moved investors, was also reflected in FTT futures. According to Coinglass, open interest on FTT contracts increased by two cards in one day and $210 million exceeded. This data is for the FTT open interest rate of last year. a peak since November means.
