• APT

  • $0.0004

  • -0.06%

Asset Appearances

Tue, September 12, 2023 | 12:12PM ET
Tue, September 12, 2023 | 12:12PM ET
The current dynamics between crypto-specific catalysts and broader macro factors remain unfavorable. On a day when the DXY was lower and both Gold and U.S. equities were gaining, a bullish performance for cryptoassets would generally be expected. However, the market appears to have recalibrated its sentiment over the weekend, particularly concerning the potential liquidation from the FTX estate. This liquidation could start as early as Wednesday, subject to a court ruling. The sell-off, initiated on Saturday and sustained through Monday, has disproportionately affected smaller-cap coins within the FTX estate, most notablySOL -3.95% ,APT -4.89% , andMATIC. We think there are a couple of critical points to consider: Furthermore, it's worth noting that theBTC andETH -2.75%  assets slated for sale—approximately$350 million in BTC and$110 million in ETH—will be liquidated over several weeks. This extended timeframe should dilute the impact on average daily volume, making it less disruptive than commonly anticipated. We will look to provide further updates as the week progresses.
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^Prices as of 2024-07-24 15:37:18