The problems of the second largest cryptocurrency exchange – FTX, have also severely affected the largest cryptocurrency in the world – Bitcoin. As of 11:30 pm Bulgarian time on November 9, 2022, the cryptocurrency is selling for less than $ 16,000 for one bitcoin.
Source: CoinMarketCap
CoinDesk reported a low price of $ 15,795.15 for Bitcoin
Meanwhile, CoinDesk has informed that the bailout acquisition of FTX by the largest exchange Binance may not happen at all. We remind you that Binance’s offering is without a clear commitment to buy their biggest competitor.
Investors fear that a possible failure of FTX and its associated cryptocurrency hedge fund Alameda Research would lead to an even greater sale of cryptocurrencies and further depreciation.
Meanwhile, the closure of FTX saw Binance’s share in the spot cryptocurrency market rise to over 71%, compared to around 55% while FTX was still operational.
The sell-off of other cryptocurrencies also continued, with the token related to FTX Solana plummeting by 41% in just the last 24 hours, Ethereum lost more than 12% of its value and Binance Coin was not far behind, recording a decline. by almost 14%.
Analysts fear that this will be far from the only decline, because if FTX and Alameda officially fail, it will lead to another turbulence in the cryptocurrency market and possible further declines.
