FTT-Alameda drama weighs on market as Asia begins its week thesamreynolds reports.
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.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., 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 leaders BTC and ETH held steady.
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