FTX about to dump HUGE amounts of SOLANA and alts
It’s time for your Monday Market Update, where we bring you the latest breaking news that’s making waves in the financial world. Grab your coffee and let’s dive right in!
🌐 Altcoin Alert: If you’re holding onto Solana, this one’s for you. Altcoins are currently weathering a bit of a storm, and we’ve got some news that could add fuel to the fire. Brace yourselves, because FTX is gearing up to liquidate a whopping $3.4 billion worth of crypto assets. Now, before you panic, it’s essential to clarify that they won’t be doing this all at once. They plan to liquidate about $200 million per week. Solana, with a hefty $685 million locked away in their vault, happens to be their largest holding, alongside a mixed bag of other assets.
🔒 But here’s the catch: A significant chunk of Solana’s stash is locked up until 2028, so not all of it can be dumped into the market. Nevertheless, if you’re a Solana investor, it’s time to keep a close eye on things, as we might see some short-term turbulence.
🕵️ Twitter Hack Alert: In a bizarre turn of events, Vitalik Buterin’s Twitter account fell victim to a hack, and already a staggering $691,000 has been scammed from unsuspecting followers. Please, folks, exercise utmost caution when you see even verified accounts with blue checkmarks posting anything out of the ordinary or offering you unbelievable freebies. It’s a massive scam alert out there, and we don’t want you to be a victim.
🪙 Bitcoin’s Steady Ride: Now, switching gears to the big daddy of cryptocurrencies – Bitcoin. In case you’ve been wondering, it’s been rather uneventful lately. Nothing much has changed on the Bitcoin front. If you’re looking to manage your risk, consider cutting back around the $25,000 mark and keep an eye out for those sweet buying opportunities as we dip below $24,000, possibly down to $20,000. Anything below that? Well, it’s a steal! Alternatively, if you’re feeling patient, just hang tight and wait for the market to bounce back above $27,500, surpassing those crucial macro moving averages.
There you have it, folks! Keep your wits about you, stay informed, and remember, the crypto market can be a wild ride. Make sure your investments are in line with your risk tolerance, and let’s navigate these market waves together. 🚀💰 #MondayMarketUpdate #CryptoNews #InvestWisely
