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Ethereum Reserves at FTX Collapse Due to Liquidity Problems

  • FTX is struggling as Binance sells its FTT assets and slows Bitcoin and stablecoin transactions. Ethereum exchange reserves are at an all-time low. FTX founder Sam Bankman-Fried solves problems and dispels rumours.

  • Over the previous day, the cost of FTX Token (FTT) decreased by more than 1.1%. FTT has a low of $21.66 and a high of $23.9 over the past 24 hours.

Ethereum Reserves at

With a 300K ETH outflow over the course of two days,Ethereum 

reserves at cryptocurrency exchange FTX reached their lowest points since November 30.

As Binance sells up its FTT assets and encounters delays in processing Bitcoin and stablecoin transfers, issues for cryptocurrency exchange FTX continue to mount. Additionally, Ethereum reserves on cryptocurrency exchanges have reached an all-time low. Sam Bankman-Fried, the founder of FTX, works to find solutions and dispel rumours.

The price of FTX Token (FTT) dropped more than 1.1% during the previous day. FTT has a 24-hour low of $21.66 and a 24-hour high of $23.9.

Ethereum Reserves at FTX Drop Due to Liquidity Problems

Data from CryptoQuant shows that FTX's Ethereum (ETH) reserves have decreased by around 300K during the last two days. FTX currently has 108,246.43 ETH in reserves. One of the most significant drops since November 2020.

Through subsidiaries and other cryptocurrency exchanges, FTX is attempting to boost its Ethereum reserves in the meanwhile. Nansen data shows that SBF-owned Alameda transferred 26,600 ETH to FTX in the last day, leaving 9,325 ETH in the account. Alameda has also transferred a sizable sum of stablecoins to the FTX hot wallet from other cryptocurrency exchanges.

Data from PeckShieldAlert showed that FTX took 1,985 ETH in liquidity out of the Gearbox Protocol. Additionally, Blockfolio, another sbf company, sent 13,555 ETH to FTX.

Additionally, FTX is having trouble handling Bitcoin withdrawals because the node's throughput is constrained. Users say that transactions are taking close to 5–10 hours to complete. The manufacturing and redemption of stablecoins from FTX has also slowed. The stablecoin production and redemption process has slowed down, and the crypto exchange blames banks for this. Wire transactions are said to clear on Monday once banks open.

Binance selling its FTT holdings caused FUD, which had a big effect on the cryptocurrency market.

FTT Tokens Drop 10%.

The FTX Token (FTT) price fell over 10% in the previous day after Binance CEO "CZ" announced plans to sell out all holdings over the coming months.

The FTT token's volatility worsened as the price continued to see significant swings. FTT price is currently trading at $22.34, recouping some of its previous losses. Token value dropped to a low of $21.73.

Will FTT will survive from liquidity after the Eth reserve is at its lowest at FTT?

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