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Crypto analytics firm Santiment says exchange tokens have recorded the biggest price drop since the collapse of the FTX trading platform.
Santimento To tell In the FTX debacle, crypto whales sold or bought exchange tokens for FTX (FTT), Huobi Global (HT) and Crypto.com (CRO).
According to Santiment, crypto whales sold over 30% of their FTT holdings and 0.4% of their Crypto.com holdings in 10 days.
For Huobi Global, Santiment said virtual whales increased their holdings by more than 17% over the same period.
Exchange tokens saw their biggest price drop in the last 7 days, which is not surprising. But what are sharks/whales doing with their coins?
FTT (-36%): Dump 30.9%
HT (-21%): 17.7% added
CRO (-14%): 0.4% dump”
At the time of writing, FTT, HT and CRO are trading at $1.63, $4.64 and $0.0696 respectively.
FTT has dropped over 90% in the past two weeks following reports of liquidity problems on FTX before the trading platform declared bankruptcy.
Following the liquidity issues surrounding FTX, questions also arose about Crypto.com’s digital asset reserves, forcing CEO Kris Marszalek to go public to restore trust. 36% decrease in 2 weeks.
And as the FTX debacle unfolds, Huobi Global, which counts the founder of the Tron (TRX) blockchain as an advisor, announced It will make it easier for Tron-based token holders to move their assets from FTX to Huobi.HT has fallen 47% over the past 14 days.
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Featured Image: Shutterstock/Stavtceva Iana
