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Is a FTX sell-off wave coming?

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The next steps of FTX Wallet are worth continuing to follow.

Original author: JZ, Founder of JZ Invest

FTX stated in the latest hearing that in order to return funds to creditors, it will sell, pledge, and hedge $3 billion worth of cryptocurrencies.

Are there any potential trading opportunities that can be exploited?

The following are several tokens that can be closely monitored.

FTX owes its users a total of 8.7 billion US dollars in assets, and has currently recovered 7 billion US dollars.

Originally, it was stated that the third report would be submitted in August, but there has been no further news.

According to on-chain data, FTX has cross-chained $6.23 million worth of ETH and over $4 million worth of other tokens to Ethereum since four days ago.

Address: 0x9ade1c17d25246c405604344f89E8F23F8c1c632

The tokens to be sold include:

120 million US dollars of FTT;

180 million US dollars of UNI;

130 million dollars of HXRO;

55,000 USD of SUSHI;

FRONT worth 260,000 US dollars;

还包含较小额的 ALEPH，AKRO，LINK，WBNB，SXP。

Translation:

It also includes smaller amounts of ALEPH, AKRO, LINK, WBNB, SXP.

Interestingly, there are also 5.5 million LUNA tokens worth only $500.

Although an amount of around 1 million RMB may not sound too scary, the daily trading volume of these small coins is very low. A sudden increase of tens of thousands of dollars in selling pressure may cause significant price fluctuations.

The 24-hour trading volume of the following three currencies is much lower than the number of tokens on FTX:

FTT - $160,000

HXRO - $2577 USDSUSHI - $8 million.

The next move of FTX Wallet is worth continuing to pay attention to.

Among many nerve-wracking transaction records, there is even a transfer from an unknown wallet.

Transferred 2 FUC tokens to FTX wallet, worth $0.12.

While FTX is selling coins to raise funds, take the opportunity to transfer some junk coins to your wallet, and use the name of meme coins to mock and criticize FTX with a strong sense of sarcasm.