One year on: Top 3 gainers after the ‘FTX crash bottom’
Its been a year because the demise of the FTX exchange– an event thats now significantly appearing like it was the Bitcoin (BTC) bottom, which is up roughly 120% from a year ago.In November 2022, the FTX collapse wiped almost $300 billion off the marketplace cap, affecting a number of cryptocurrencies. The ones that suffered the most were tokens with deep financial ties to FTX, including Solanas (SOL), Serum (SRM) and the exchanges native FTX Token (FTT). Crypto market capitalization everyday price chart. Source: TradingViewBut a year later on, things have enhanced for BTC and most cryptocurrencies impacted by the FTX collapse. If purchased in November 2022, here are the top gainers (from the leading 30 by market capitalization) that would have yielded the biggest revenue. Solana up 660% from FTX crash bottomSolanas price plummeted by over 50% to $8 after the FTX collapse. The sell-off happened primarily since FTX and its sis firm, Alameda Research, held about 55 million SOL, setting off fears of a dump to plug liquidity holes.Nonetheless, buying SOL a year ago would have produced a profit of over 660% today.SOL daily rate chart. Source: TradingViewSolanas gains have actually mostly originated from an upside sentiment in the crypto market, led by hopes for an area Bitcoin exchange-traded fund approval in the United States. At the exact same time, SOLs price has likewise gained from diminishing fears about a prospective dump by FTX. #FTXFTX has offered 6,986,554 $SOL in the previous couple of weeks, for ~$ 280.2 M $USD.They are completely OUT of unlocked $SOL.The only $SOL they have exposure to is secured, many until 2027-2028, in the nick of time to sell the bottom of the next bear market. #SOLANA can begin UP ONLY. pic.twitter.com/Qu2z843oxS— Curb ◎ (@CryptoCurb) November 14, 2023
The ones that suffered the most were tokens with deep financial ties to FTX, consisting of Solanas (SOL), Serum (SRM) and the exchanges native FTX Token (FTT). The sell-off happened mainly since FTX and its sis firm, Alameda Research, held about 55 million SOL, setting off fears of a dump to plug liquidity holes.Nonetheless, buying SOL a year back would have produced a revenue of over 660% today.SOL everyday rate chart. FTX Token competing OKB is up 275%OKX crypto exchanges token OKB was among the least-affected tokens by the FTX mess.
FTX Token competing OKB is up 275%OKX crypto exchanges token OKB was amongst the least-affected tokens by the FTX mess. It has substantially benefited in rate after its top competitor went bust.Buying OKB at the FTX bottom of $17.20 a year ago would have yielded investors a 275% earnings today.OKB/ USD weekly rate chart. BNB has underperformed many of the top 30 cryptocurrencies over the past year, increasing only 16% from the FTX bottom.Chainlink Chainlinks (LINK) had actually fallen by as much as 40% following the FTX collapse.