The virtual asset market temporarily rebounded after plummeting due to concerns over asset sales by the bankrupt U.S. exchange FTX, but it continues to show sluggishness due to depressed investment sentiment.
As of the morning of the 17th, the Bitcoin (BTC) price was in the 35 million won range, and has remained in the box range without any significant rebound since falling to the 34 million won range on the 11th. Ethereum (ETH) is also unable to recover its price before the 11th, at 2.2 million won.
FTX was once the world’s third-largest exchange in terms of trading volume and was reported to hold a total of about 4.5 trillion won in virtual assets. The virtual assets disclosed by the company when applying for asset sale to the U.S. court are: △ Solana (SOL) $1.16 billion △ Bitcoin (BTC) $560 million △ Ethereum (ETH) $192 million △ App There are 10 types, including Toss (APT) $137 million, Tether (USDT) $120 million, and Ripple (XRP) $119 million.
FTX, which received court approval for sale, plans to sell assets worth $100 million (approximately 133 billion won) every week. The sale limit can be increased to $200 million per share through additional procedures, and no separate announcement will be made when selling assets.
The market believes that FTX’s asset sale will act as a negative news by reducing investment sentiment in the short term. However, there is also an analysis that the direct impact will be limited as the sales volume is released through over-the-counter (OTC) trading. An industry official said, “This news itself has caused the market to shrink more than the scale of FTX’s sale, so its impact in the short term should not be underestimated.” He added, “It is highly likely that the volume will be traded over-the-counter rather than released directly to the market.”
Meanwhile, Ripple (XRP), which continued its upward trend after winning a case with the U.S. Securities and Exchange Commission (SEC) over its securities judgment, returned to its pre-win price. As of this day, Ripple was in the 600 won range and has continued to decline since reaching the 1,200 won range on July 14, falling to half its price in two months.
2023-09-17 02:00:02
#Coin #market #holding #breath #due #FTX #bad #news.. #Ripples #price #returns #winning #case
