CZ, the CEO of Binance says Binance is selling FTT holdings in wake of the Coindesk scoop of Alameda unhealthy balance sheet problem.
As of June 30, Alameda’s assets amounted to $14.6 billion. Its single biggest asset: $3.66 billion of “unlocked FTT.” The third-largest entry on the assets side of the accounting ledger? A $2.16 billion pile of “FTT collateral.”
FUD of FTT is running in the market. Candlestick data reveals facts to you.
Rumor 1 - Large amount of FTT tokens are transferred to Binance?
Fact - Yes. +1539%
Starting on Nov 5, FTT amount on Binance increased sharply by 1539%.
From 1.5million amount of FTT on Nov 4 increased to 24.47million on 5th, then dropped a bit to 24.4m on Nov 6th.
Rumor 2 - The large CEX deposit caused the price FUD?
Fact - Yes.
- A total CEX deposit of $582million $FTT in the hour.
- The price saw 11.45% drop from $25.51 to $22.19
FTT FUD on DEX happened at 21pm UTC Nov 6th. 6 hours after the deep Net CEX Outflow was detected.
Turnover Rate reached the highest.
That’s why we have been strongly “alphaing” you to monitor CEX flow as an early sell signal! The deep Net CEX Outflow happened before the price slump.
Rumor 3 - Whales are clearing their FTT assets?
Fact - 3 of them have done that
Among the Top 15 FTT Holders, 3 of the “Millionaire” addresses have cleared all their FTT token holdings.
Swift to ” Smart” mode, Alameda Research holds $6million value of FTT.
FTT Token Balance Distribution table reveals that,
Indicates those $FTT whales largely transferred FTT out from wallets. Either sold, transferred to CEX(high potential to sell as well) OR to other places.
Rumor 4 - FUD is spreading to FTX exchange?
Fact - Yes. $350M total worth of stablecoins were withdrawn
Only $55.6M left. Meanwhile $200M entered Binance.
Rumor 5 - FTX banned withdrawals?
Fact - No. They didn't
FTX didn’t ban withdrawal. It is still allowed and proceed according to our crypto CEX Flow tracker.
