Cryptocurrencies seek reaction after liquidity crisis involving FTX. This last week, the scandal and devaluation of the broker affected the entire cryptoactive system. Nonetheless, in the last few hours, Bitcoin showed gains of 7,96%, being quoted in US$ 17.329,06 this Friday.
Other currencies also showed growth. A Ethereum, inclusive, had a greater appreciation than Bitcoin, recording 9,71% increase and a quote of US$ 1.273,03. With the collapse recorded by the broker, Bitcoin fell to the lowest rate ever recorded in the last two years.
In all, the asset fell by 10,26% in approximately 24 hours. As a result of this scenario, There were cryptocurrency entrepreneurs who lost more than 90% of his “fortune”.
Inside the crisis
The crypto market has already been showing volatility throughout the year. Nonetheless, the biggest aggravating factor of the problem was the uncertainties surrounding the global market. This time, investors are fearful after a systemic crisis in the cryptocurrency ecosystem.
In the last week, FTX's TTX token showed a devaluation of more than 30% not market, ushering in a collapse for Sam Bankman-Fried's brokerage. Therefore, FTX's alternative was to stop its customers' withdrawals and resort to trading with the Binance broker.
In the face of this crisis, the Chinese crypto company reportedly signaled an initial agreement that confirmed its interest in buying FTX, until then its direct competitor.
Instability is expected to continue
Despite the recent recovery of cryptocurrencies, the effects caused by the latest FTX crisis are expected to persist in the coming weeks. With the collapse of the brokerage, other companies were affected, as is the case with loan companies that have had their withdrawals paused.
That's why, the situation involving FTX should be monitored among crypto investors. What will dictate market valuations are precisely the negotiations between FTX and Binance. While, Check out the assets that showed the most growth in the last day:
Table published in Estadão.
