Why lately they make a Suspension of Mosdex’s arbitrage trading in FTX?
According to the official MOSDEX channel, “MOSDEX has temporarily suspended arbitrage trading in FTX.”
FTX, a large virtual asset (cryptocurrency) exchange, suffered a liquidity crisis and brought down the entire coin market. FTT tokens issued by FTX plunged more than 75% in one day, leading to a plunge of around 10% for most of the top coins by market capitalization. Currently, FTX has stopped withdrawing money and is negotiating an acquisition with Binance.
In the virtual asset market, fears that FTX reserves may be exhausted are spreading. As the Bitcoin balance in the wallet of the global virtual asset exchange FTX is depleted and concerns about a bank run spread, the price of Bitcoin has plunged and broke the lowest price in the last two weeks. It should be sold as the background of this crash, but the sale of assets held by Alameda Search, an affiliated company, is considered.
WEB3 DATA PROTOCOL 0xSCOPE EPLANATION
Web3 data protocol 0xScope said on Twitter, “As a result of analyzing Alameda Search’s assets in the Ethereum chain, it has been found that they currently hold virtual assets worth $100 million.” It is believed that this crash was caused by the sale of assets held by Alameda Search, an affiliated company of FTX. According to data analysis from xScope on Twitter, Alameda Search currently holds virtual assets worth $ million. In order to maintain the price of FTT, it is necessary to sell these holdings—thus leading to a large release of coins into the market and resulting in the market crash.
In order to maintain the price of FTT, it is necessary to sell the holdings, and it is interpreted that these coins were released in large quantities in the market, leading to the collapse. In the virtual asset market, fears that FTX reserves may be exhausted are spreading. As the Bitcoin balance in the wallet of the global virtual asset exchange FTX is depleted and concerns about a bank run spread, the price of Bitcoin has plunged and broke the lowest price in the last two weeks. It should be sold as the background of this crash, but the sale of assets held by Alameda Search, an affiliated company, is considered.
MOSDEX has temporarily suspended arbitrage trading in FTX.” In the virtual asset market, fears that FTX reserves may be exhausted are spreading. As the Bitcoin balance in the wallet of the global virtual asset exchange FTX is depleted and concerns about a bank run spread, the price of Bitcoin has plunged and broke the lowest price in the last two weeks.
SUDDEN DROP OF FTX’s TOKENS
The sudden drop in the value of FTX’s tokens has caused a ripple effect throughout the cryptocurrency market, leading to a sharp decline in prices for many of the top coins. This has caused some investors to panic, as fears of an FTX bankruptcy grow. However, Binance CEO Changpeng Zhao has stated that his company is in talks with FTX about a possible acquisition, which could help to stabilize the markets. MOSDEX has released an official statement regarding the recent FTX incident. In light of the recent FTX incident, MOSDEX has temporarily suspended arbitrage trading in the FTX platform.
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