Investing.com – The price of the FTX cryptocurrency exchange token fell 72% after its purchase by Binance, and it has been updated for at least two years – these and other important cryptocurrency market news in our review.
The cost of the FTX cryptocurrency exchange’s native token (FTT) dropped 72% in one day, to current values of around $ 4.6. A sharp drop in altcoin prices occurred on the evening of November 8, when they dropped from $ 19 to $ 3 in just a few hours. Binance cryptocurrency exchange yesterday announced on the purchase of FTX. Binance chief Changpeng Zhao said the trading floor has called for help due to a severe liquidity crisis. Zhao noted that to protect users, Binance has signed a letter of intent to acquire FTX.com and help cover the liquidity crisis.
Huobi and DAO promised exchange Tron network tokens in a 1: 1 ratio, even if they are not available for withdrawal from the FTX platform. After discussing the situation, the Huobi team decided, in the interest of the community, to allow users to redeem their Tron blockchain tokens: TRON (TRX), BitTorrent (BTT), Just (JST), Sun Token (SUN ) and Houbi (HT) listed on FTX from the Huobi and Tron platforms.
The course has been updated for at least two years. The price of the first cryptocurrency on the evening of November 8 in 2.5 hours dropped $ 3,000, from $ 20,600 to $ 17,580 for the first time since November 2020, according to CoinGecko. On large cryptocurrency exchanges, the BTC price in spot trading fell to 17,160, the futures price fell to USDT 16,800.
The daily amount of liquidations of margin positions on the cryptocurrency market exceeded $ 717 million, according to CoinGlass. In just 24 hours, the positions of 329 thousand traders were forcibly closed. The largest one-time settlement occurred on Binance paired with Bitcoin and reached $ 6.7 million.
Cryptocurrency Exchange Binance Will Control Over 80% Of The Global Crypto Market If The FTX Platform Purchase Agreement Is Signed, in shape CoinDesk citing the Bernstein report. According to analysts, this could attract the attention of antitrust regulators in the United States and Europe.
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Text prepared by Timur Aliev
