The cryptocurrency market is trading red today. The global cryptocurrency market capitalization has dropped 3.3% in the last 24 hours to below $900 billion. The collapse in crypto prices comes amid the troubles facing the FTX cryptocurrency exchange.
Crypto prices crash today
The FTX exchange filed for Chapter 11 bankruptcy in the United States yesterday, and Sam Bankman-Fried also stepped down as the exchange’s CEO. This trend has caused a downturn in crypto prices that had attempted to recover after positive Consumer Price Index (CPI) data was released on Thursday.
All the top-ten largest cryptocurrencies are trading in the red today. Ether has dropped by around 1.56% in the last 24 hours to trade at $1,259, while BNB has dropped 3.8% to $284. XRP, ADA, and DOGE are also trading in the red today after dropping by 6%, 5%, and 2%, respectively. MATIC is the biggest loser, dropping by over 10% in 24 hours to trade at $0.95 at the time of writing.
FTX files for bankruptcy
The situation with the FTX exchange continues to unfold. On Friday, FTX announced it had filed for Chapter 11 bankruptcy in the US. Bankman-Fried has also stepped down as CEO, and a new CEO has been appointed to guide the company in the bankruptcy and restructuring.
However, shortly after the bankruptcy filing, reports started circulating about a possible hack on the FTX exchange, with the exchange seeing mysterious outflows of over $600 million.
The FTX Telegram channel confirmed the hack saying that the FTX apps contained malware and that the FTX site might download trojans to user devices. On-chain data shows that Ethereum and Binance Smart Chain tokens were transferred to decentralized exchanges.
The FTX General Counsel, Ryne Miller, has issued an update saying that FTX and FTX US would move all digital assets to cold storage as a precautionary measure following the recent unauthorized transactions.
Buy these three coins for 10x gains
The FTX saga has investors looking for the best coins they can buy for sure gains. Presales have historically proven to be lucrative investment opportunities. Some of the best presales today are Dash 2 Trade, RobotEra, and Calvaria.
Dash 2 Trade (D2T)
Dash 2 Trade is a trading intelligence platform running on the Ethereum blockchain. The platform gives traders of all skill levels access to real-time data, trading signals, and social tools to make better profits. The D2T token presale is currently in stage three, raising nearly $6 million. After the presale period ends, the token has already secured listings on LBank and BitMart.
TARO is the native token for the RobotEra ecosystem. RobotEra is a metaverse world where players create avatars and use them to explore the virtual world. There is a lot of interest in this presale, currently in the first stage, and it is rapidly selling out.
Calvaria’s presale is quickly selling out. The presale has raised more than $1.69 million, and it is currently in the fourth stage, which is currently 80% complete. If the RIA presale continues attracting this high demand, it could end sooner than scheduled. Calvaria is a blockchain gaming project with the potential to dominate the play-to-earn market.
Dash 2 Trade - New Gate.io Listing
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- Trading Community of 70,000+ Members