Follow-up after this weekend, all about FTT & Alameda
FTX’s FTT exchange token, which makes up a significant amount of Alameda's assets, is down as Binance’s CEO Changpeng "CZ" Zhao publicly feuded with Alameda’s CEO Caroline Ellison about selling off Binance’s FTT holdings. Old news now.
Exchange balances of FTT are also surging, according to data provided by Glassnode. Typically, high exchange balances imply that there's a lot of liquidity for buying and selling tokens. This usually results in a downwards price trend as traders look to sell tokens. In a nutshell, take advantage of cheap supplies.
Data from Nansen shows that FTX is suffering from a major spike in exchange outflows. During the last week approximately $292 million in stablecoins have left FTX. Traders could be departing the exchange over fears of liquidity issues, as Alameda is a large market maker on FTX.
Meanwhile, Solana, a token backed by Alameda and FTX, is down 11% on day. According to a copy of the Alameda balance sheet seen by CoinDesk, Alameda holds $292 million of “unlocked SOL,” $863 million of “locked SOL” and $41 million of “SOL collateral.”
Perhaps the fears of a full-blown liquidity crisis are overblown as market leader bitcoin (BTC) held steady. Bitcoin's implied volatility, or options traders' expectations for price turbulence over a specific period, continue to trend sideways, indicating little signs of panic.
What is happenning to SOL? Savvy scalpers have closed their postions. Beras' ''miniature SOL train'' rekt within the real SOL train ''Caboost playroom wagon'' is just starting, as the party is just getting started in the VIPs' luxury lounge wagons. SOL locomotive firing all cylinders. They (you know who) are about to pin off the Caboose altogether soon as that wagon fills up like a naked scalpers slaughterhouse. Beras steak tartare is being served cold just now as the BBQs are warming up. SOL & iCloud Google...more to come.
Read the chart carefully as I'm getting more precise in presenting my main chart. Main takeaway, FTT and Alameda FUD are still on but indices are all good and the dollar CAN'T pump more from here. No panic. Take advantage and accumulate. Quality Alts are all bouncing back and there are no dead cats here. The naked shorting scalpers are just weak holders playing a game of chicken amongst themselves. Savvy Bulls, keep accumulating. All your favorite Alts are on sale thanks to naked shorting supplies.
OMS
Exchange balances of FTT are also surging, according to data provided by Glassnode. Typically, high exchange balances imply that there's a lot of liquidity for buying and selling tokens. This usually results in a downwards price trend as traders look to sell tokens. In a nutshell, take advantage of cheap supplies.
Data from Nansen shows that FTX is suffering from a major spike in exchange outflows. During the last week approximately $292 million in stablecoins have left FTX. Traders could be departing the exchange over fears of liquidity issues, as Alameda is a large market maker on FTX.
Meanwhile, Solana, a token backed by Alameda and FTX, is down 11% on day. According to a copy of the Alameda balance sheet seen by CoinDesk, Alameda holds $292 million of “unlocked SOL,” $863 million of “locked SOL” and $41 million of “SOL collateral.”
Perhaps the fears of a full-blown liquidity crisis are overblown as market leader bitcoin (BTC) held steady. Bitcoin's implied volatility, or options traders' expectations for price turbulence over a specific period, continue to trend sideways, indicating little signs of panic.
What is happenning to SOL? Savvy scalpers have closed their postions. Beras' ''miniature SOL train'' rekt within the real SOL train ''Caboost playroom wagon'' is just starting, as the party is just getting started in the VIPs' luxury lounge wagons. SOL locomotive firing all cylinders. They (you know who) are about to pin off the Caboose altogether soon as that wagon fills up like a naked scalpers slaughterhouse. Beras steak tartare is being served cold just now as the BBQs are warming up. SOL & iCloud Google...more to come.
Read the chart carefully as I'm getting more precise in presenting my main chart. Main takeaway, FTT and Alameda FUD are still on but indices are all good and the dollar CAN'T pump more from here. No panic. Take advantage and accumulate. Quality Alts are all bouncing back and there are no dead cats here. The naked shorting scalpers are just weak holders playing a game of chicken amongst themselves. Savvy Bulls, keep accumulating. All your favorite Alts are on sale thanks to naked shorting supplies.
OMS