The cryptocurrency market was hit in November by the bankruptcy of FTX and its subsidiaries. After the stock market officially declared bankruptcy on November 11, the price of Bitcoin fell to $ 15,682. Meanwhile, Turkish investors were anxiously watching what would happen for FTT and Solana.
Turkish investors closely watched these altcoins in the FTX crisis
cryptocoin.comAs you follow, Binance CEO CZ’s decision to sell his $2.1 billion FTT token, arguing that Alameda Research is holding FTT-dense reserves, caused the crisis. His statement on Twitter triggered a panic atmosphere among investments. FTX was soon caught in the middle of a liquidity crisis as it was unable to meet withdrawal requests. After giving a first helping hand, Binance gave up on the purchase, and FTX announced the official bankruptcy on November 11.
Coinecko data shows that Turkish investors are watching FTT and Solana, which melted the fastest during this time. It was the common thread of investors as Bitcoin fell below $16,000. According to the data, Turkish users most frequently searched for the following cryptocurrencies:
- Left (LEFT)
- FTX Token (FTT)
- STEPN Green Satoshi Token on Solana
- Aleph Zero (AZERO)
- Terra Luna Classic (LUNC)
- Bitcoin (BTC)
- FC Barcelona Fan Token (BAR)
- Bone ShibaSwap
- Vita Inu (VINU)
- CEEK Smart VR (CEEK)
Investors around the world are under the red flag
The day before FTX filed for bankruptcy, it had $9 billion in debt while its liquid assets were just $900 million. The majority of these liquid assets, included in an FTX international balance sheet as of Thursday, consisted of $470 million in Robinhood shares of a Bankman-Fried company that was not involved in Friday’s filing for bankruptcy, and 134 other companies.
The document, which was presented to potential investors before the bankruptcy, paints a comprehensive picture of the gap in the financing of the FTX crypto empire. FTX International warns that its users may experience significant losses on the cryptocurrencies they hold on the exchange.
With the bankruptcy of the company, a global grievance arose. However, its founder, SBF, has become one of the most hated men on the long list of defaulters in crypto. When we look at the cryptocurrencies sought worldwide from the Coinecko data, we see that the FTT token is in the first place. The most searched altcoins around the world since last week are as follows:
- Callisto Network, Chiliz, Optimism, Magic Internet, FTX Token (FTT), Solana and Aptos are among the most sought after.
- Polygon, Hashflow, BNB Coin, Gala, Tether, Prosper, Bitcoin and Ethereum were other big names on the list.
- Civilization, Stargate Finance, GMX, TRON, Baby Doge Coin, XCAD Network, Money Metavault Trade, BitDAO, Cosmos Hub, Evmos, Unidef, USDD, Dogecoin, Gains Networ and Chainlink.
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