FTX's Ticking Time Bomb: Dogecoin, Tron, And Polygon May Face Brutal Shockwave
Portfolio Pulse from Murtuza Merchant
Crypto analytics firm Messari has raised concerns about the potential market impact of FTX's liquidations on certain cryptocurrencies. While Bitcoin and Ethereum might withstand the selling pressure, Dogecoin, Tron, and Polygon could face significant market turbulence. FTX liquidators currently hold an estimated $1.3 billion in liquid crypto assets, excluding stablecoins. The primary concern is the volume of tokens held by FTX in relation to each asset's actively traded volume.
September 13, 2023 | 2:10 pm
News sentiment analysis
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NEGATIVE IMPACT
Dogecoin could face significant market turbulence due to potential liquidations by FTX.
The potential liquidations by FTX could cause a significant market impact, especially for less liquid cryptocurrencies like Dogecoin. This could lead to a decrease in the value of Dogecoin.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
FTX's potential liquidations could cause significant market turbulence, especially for less liquid cryptocurrencies.
The potential liquidations by FTX could cause a significant market impact, especially for less liquid cryptocurrencies like Dogecoin, Tron, and Polygon. This could lead to a decrease in the value of FTX.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Polygon could face significant market turbulence due to potential liquidations by FTX.
The potential liquidations by FTX could cause a significant market impact, especially for less liquid cryptocurrencies like Polygon. This could lead to a decrease in the value of Polygon.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tron could face significant market turbulence due to potential liquidations by FTX.
The potential liquidations by FTX could cause a significant market impact, especially for less liquid cryptocurrencies like Tron. This could lead to a decrease in the value of Tron.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Bitcoin might be able to withstand the selling pressure from potential liquidations by FTX.
The potential liquidations by FTX might not have a significant market impact on Bitcoin due to its liquidity. This could maintain the value of Bitcoin.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Ethereum might be able to withstand the selling pressure from potential liquidations by FTX.
The potential liquidations by FTX might not have a significant market impact on Ethereum due to its liquidity. This could maintain the value of Ethereum.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Solana might be able to withstand the selling pressure from potential liquidations by FTX.
The potential liquidations by FTX might not have a significant market impact on Solana due to its liquidity. This could maintain the value of Solana.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100