According to information from Wu Blockchain, by querying FTX’s FTT/USD trading pair order book, there are currently more than 10 million orders to buy FTT at $14, equivalent to over $140 million.
The current FTT is around $17.14. After breaking the $22 support, the FTT sell-off is underway. The community in question no one else can place orders but Sam Bankman-Fried.
The rumors are also dealing with a default for Alameda Research, the company behind the empire of FTX CEO Sam Bankman-Fried. According to Coindesk, Alameda Research is mortgaging a lot of FTT to borrow money in FTX, which worries many that if Alameda Research is liquidated, it will have a strong impact on the price of FTT.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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