A cautious warning – FTX could still dump up to $3.3 billion worth of tokens on the market.

A cautious warning – FTX could still dump up to $3.3 billion worth of tokens on the market.

According to the tweet below FTX could still liquidate up to $3.3 billion worth of assets.

The list of major tokens:

SOL – $685 million FTT – $529 million BTC – $268 million ETH – $90 million APT – $67 million DOGE – $42 million MATIC – $39 million BIT – $35 million TON – $31 million XRP – $29 million Stable coins – $245 million Mixed others – $1.3 billion

https://twitter.com/adamscochran/status/1615448032325034026?s=20

“So liquidators were counting token prices on the day of filing, and consider the $529M of FTT to be “liquid” in this calculation, as well as $685M of Solana which would mega nuke the SOL market.

And this is only the “liquid” tokens they counted.

You maybe get some of the value out of the BTC and ETH, and you’ll get the stables. Everything else is going to tank the price if you sell it.

So you’re looking at $600M on $10B+ at best?

$0.06 on the dollar?”