The FTX bankruptcy continues to have a strong impact on the financial markets. Crypto wallets have made several changes to exchange Ethereum for Bitcoin. Adding to the bearish continuity of the crypto market, which fell for the first time since January 2021 below 800 billion in capitalization.
Over 50,000 ETH was exchanged for Bitcoin over the weekend!
During yesterday the crypto wallet 0x866eeecd1f248d1a0a2e0263f13594a6b8b7c01a exchanged more than 5,000 ETH against about 347 BTC. A huge sale that created a strong selling pressure around the prince of cryptocurrencies.
As indicated by the PeckShieldAlert Twitter account which publishes the transaction details of the wallet in question:
#PeckShieldAlert FTX Account Drainer 0x866e…01a after swapping ~5k $ETH ($5,929,250.00) for 347 $renBTC ($5,798,697.17) pic.twitter.com/fLYC2oR4eV
—PeckShieldAlert (@PeckShieldAlert) November 20, 2022
Actually, this wallet would belong to the entity “FTX Accounts Drainer”, which is not on its first massive sale of ETH for Bitcoin. yesterday, 50,000 ETH were exchanged for Bitcoin. If the wallet in question was still the 27th Ethereum whale a few days ago, the wallet has slipped 10 places.
It is not yet known who the owner of the wallet was. Some report that it could be the Bahamas Securities Commission. In fact, the entity has recently been in charge of the assets of the FTX platform since November 12, 2022. From that date and acting under the jurisdictional authority of the Bahamas, the Commission ordered the transfer of all digital assets held by FTX to a digital wallet. he rules.
This huge exchange on the markets could be important since in the last 24 hours, the price of Ethereum showed more losses than the price of Bitcoin. So, if Bitcoin falls 2.50% in the last 24 hours, Ethereum shows losses of about 3.5%. Currently, the ETH token is trading against just over $1,120.
The crypto market continues its way of the cross!
Despite the good numbers on US inflation, the crypto market is once again in a tough spot. Hard hit by the FTX business, the SOL signal of the Solana project suffered the most damage again. Looking at the last 24 hours, the SOL token is down again more than 6%. Now seen below the 12 dollar mark.
The following table shows the evolution of the top 10 altcoins over the past few days:
|Asset price||Evolution over 24 hours||Evolution over 7 days|
|Ethereum (ETH)||$1,134.90||– 3.31%||– 8.76%|
|BNB (BNB)||$261.37||– 2.79%||– 6.55%|
|XRP (XRP)||$0.354||– 5.23%||+ 2.81%|
|Cardano (ADA)||$0.3098||– 2.86%||– 6.13%|
|Dogecoin (DOGE)||$0.07616||– 7.03%||– 11.13%|
|Polygon (MATIC)||$0.8124||– 3.23%||– 11.78%|
|Polka dot (DOT)||$5.25||– 4.09%||– 8.03%|
|Shiba Inu (SHIB)||$0.00008674||– 4.02%||– 4.53%|
|Tron (TRX)||$0.05141||+ 1.07%||+ 3.82%|
|Litecoin (LTC)||$61.56||– 0.16%||+7.92%|
With a bullish rally price in the last few days, Litecoin is regaining its place among the top 10 altcoins. Unlike Solana who dropped to twelfth place (excluding stables). At the time of writing these lines, the crypto market has recovered under the $800 billion mark. A market