While FTX and FTT Collapsed, Turks Rushed to These Altcoins!

The cryptocurrency market was hit in November by the bankruptcy of FTX and its subsidiaries. After the stock market officially declared bankruptcy on November 11, the price of Bitcoin fell to $ 15,682. Meanwhile, Turkish investors were watching with concern what would happen for FTT and Solana.

Turkish investors closely watched these altcoins in the FTX crisis

Koindeks.com As you follow, Binance CEO CZ’s decision to sell his $2.1 billion FTT token, arguing that Alameda Research is holding FTT-dense reserves, caused the crisis. His statement on Twitter triggered a panic atmosphere amid investments. FTX was soon caught in the middle of a liquidity crisis as it was unable to meet withdrawal requests. First helping hand, Binance, after abandoning the purchase, FTX announced the bankruptcy of the photo on November 11.

Coinecko information shows that Turkish investors are watching FTT and Solana, which melted the fastest during this time. It was the common thread of investors as Bitcoin fell below $16,000. According to the data, Turkish users searched the following cryptocurrencies the most during this time:

  • Left (LEFT)
  • FTX Token (FTT)
  • STEPN Green Satoshi Token on Solana
  • Aleph Zero (AZERO)
  • Terra Luna Classic (LUNC)
  • Bitcoin (BTC)
  • FC Barcelona Fan Token (BAR)
  • Bone ShibaSwap
  • Vita Inu (VINU)
  • CEEK Smart VR (CEEK)

Investors around the world are under the red flag

The day before FTX filed for bankruptcy, it had $9 billion in debt while its liquid assets were only $900 million. The majority of these liquid assets, included in an FTX international balance sheet as of Thursday, consisted of $470 million in Robinhood shares of a Bankman-Fried company that was not involved in Friday’s filing for bankruptcy, and 134 other companies.

The paperwork presented to potential investors before the bankruptcy paints a comprehensive picture of the gap in the financing of the FTX crypto empire. FTX International warns that its users may incur valuable losses on the cryptocurrencies they hold on the exchange.

With the bankruptcy of the company, a global grievance arose. However, its founder, SBF, has become one of the most hated men on the long list of defaulters in crypto. When we look at the crypto currencies sought worldwide from Coinecko information, we see that the FTT token is in the first place. The most searched altcoins around the world since last week are as follows:

  • Callisto Network, Chiliz, Optimism, Magic Internet, FTX Token (FTT), Solana and Aptos are in the middle of the most wanted.
  • Polygon, Hashflow, BNB Coin, Gala, Tether, Prosper, Bitcoin and Ethereum were other big names on the list.
  • Civilization, Stargate Finance, GMX, TRON, Baby Doge Coin, XCAD Network, Money Metavault Trade, BitDAO, Cosmos Hub, Evmos, Unidef, USDD, Dogecoin, Gains Networ and Chainlink.

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