🔥 Future FTT price FTX token under threat 👇
Updated
Why the FTTUSDT price directly depends on the result of the "showdown" between Binance CZ CEO and Sam Bankman-Fried with FTX ?
On 06.11 evening, the head of Binance published a series of tweets in which he wrote that Binance as part of a strategy to exit investments in FTX received 2.1B in BUSD and FTT. And due to "unethical" actions, Sam Bankman-Fried plan to sell their stake in tokens FTT of $ 600M within 1-2 months on the open market.
CEO at Alameda Research, Caroline Ellison, has publicly called for CZ to sell all FTT tokens at $22 to reduce the market impact on the FTX exchange's native token rate.
The current showdown between owners of major cryptocurrency exchanges is happening when the cryptocurrency market is "fragile" and tough regulation from the U.S., including DeFi market, is still looming.
Sam Bankman-Fried with FTX has taken a proactive regulatory stance, trying to significantly limit the rights and freedoms of DeFi protocol creators so that US users / other territories with strict laws cannot use DeFi infrastructure. And the winning side of course would be centralized exchanges a-la FTX.
He also hinted in one of his tweets that he lobbies for interests in Washington, and for the head of Binance - entry to those chambers is closed, which has caused the current CZ / FTX / Alameda feud.
The principle of the current actions of the head of Binance is quite simple - collapsing quotes FTTUSD. Also actions CEO Binance causes a mass "flight" from the exchange FTX in its favor, and also many lenders may withdraw their loans from FTX, due to the depreciation of collateral in the FTT.
Better that CZ / FTX as soon as possible stopped this "war" because such a battle will not only hurt the price of FTT or the exchange FTX, which is being abandoned by the traders and their liquidity.
A lot more crypto community participants are likely to suffer. Because in such a weak crypto market, coins with smaller liquidity and capitalization can go down very, very hard, and almost all of us have them.
If we look at the global chart of the FTTUSDT price, it becomes clear why the price of $22 per FTT is critical. Below you can see the liquidity level is only about $10. In general, the strong liquidity area where "big money" was taking a long position is in the $2.5-4 range.
We don't want to see another collapse like with "Luna".
We hope for a quick and peaceful outcome of this conflict, but each participant in the crypto community should make conclusions for themselves.
_____________________
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On 06.11 evening, the head of Binance published a series of tweets in which he wrote that Binance as part of a strategy to exit investments in FTX received 2.1B in BUSD and FTT. And due to "unethical" actions, Sam Bankman-Fried plan to sell their stake in tokens FTT of $ 600M within 1-2 months on the open market.
CEO at Alameda Research, Caroline Ellison, has publicly called for CZ to sell all FTT tokens at $22 to reduce the market impact on the FTX exchange's native token rate.
The current showdown between owners of major cryptocurrency exchanges is happening when the cryptocurrency market is "fragile" and tough regulation from the U.S., including DeFi market, is still looming.
Sam Bankman-Fried with FTX has taken a proactive regulatory stance, trying to significantly limit the rights and freedoms of DeFi protocol creators so that US users / other territories with strict laws cannot use DeFi infrastructure. And the winning side of course would be centralized exchanges a-la FTX.
He also hinted in one of his tweets that he lobbies for interests in Washington, and for the head of Binance - entry to those chambers is closed, which has caused the current CZ / FTX / Alameda feud.
The principle of the current actions of the head of Binance is quite simple - collapsing quotes FTTUSD. Also actions CEO Binance causes a mass "flight" from the exchange FTX in its favor, and also many lenders may withdraw their loans from FTX, due to the depreciation of collateral in the FTT.
Better that CZ / FTX as soon as possible stopped this "war" because such a battle will not only hurt the price of FTT or the exchange FTX, which is being abandoned by the traders and their liquidity.
A lot more crypto community participants are likely to suffer. Because in such a weak crypto market, coins with smaller liquidity and capitalization can go down very, very hard, and almost all of us have them.
If we look at the global chart of the FTTUSDT price, it becomes clear why the price of $22 per FTT is critical. Below you can see the liquidity level is only about $10. In general, the strong liquidity area where "big money" was taking a long position is in the $2.5-4 range.
We don't want to see another collapse like with "Luna".
We hope for a quick and peaceful outcome of this conflict, but each participant in the crypto community should make conclusions for themselves.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
Note
22 hours have passed since the publication of the idea, and what we have:- FTTUSDT did not hold above $22 and the price cascaded down to a low of $15 and this is -33% since the idea was published.
- FTX/Alameda own 10% of Solana tokens and accordingly SOL price fell by -24% following FTT
- Bybit's CEO accuses FTX that they sold 30mn out of 100mn BIT that FTX previously pledged never to sell. As a result, the BIT price fell from $0.40 to $0.26, i.e. -26%.
Although CEO at Alameda Research, Caroline Ellison wrote that they did not sell BIT.
- Binance CEO wrote that they did not sell FTT on the OTC desk, but will sell on the market, as they wrote earlier.
He also trolled that they are still holding $8 billion worth of ETH on cold wallets...
- on the Binance exchange writes: "The exchange does not have enough capacity to provide leverage for the FTT short" or is this the end of the war, and it is clear who is stronger and won?
- on crypto twitter, users write that FTX does not allow withdrawing more than 1000 USDC in one transaction. We do not have an account on FTX and cannot check if this is true.
Write in the comments your thoughts on this situation
Note
CZ: Binance exchange will buy FTX exchange.Excellent performance!)
BNB price to the moom)
Trade closed: target reached
Finita la comedia2 days have passed since the publication of our idea.
The price of FTTUSDT was at a low of $2.67 and fell by -88%, reaching the liquid zone warned about on November 7.
Now, at best, the price will move to the right in a narrow consolidation until the FTX liquidity situation is resolved...
Note
Today and tomorrow Binance Will Delist FTT Margin Pairs, USDⓈ-M Futures Contracts and Binance Flexible Products
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