May is not that far and the crypto market is about to witness another crash, this time through FTX and Alameda Research platforms. Even top crypto analysts and experts have advised investors to invest in FTX through their own risk. Quite recently Binance CEO, CZ, shared a thread on Twitter in which he confirm the news that Binance is going to liquidate all the FTT tokens for the sake of risk management.
He believed that the market cannot manage to take another LUNA-like crash which is why Binance is preparing itself to avoid such a catastrophe. Due to rumors and such news, FTT has lost its worth over the past few days. Additionally, all the Almeda Research platform’s coins have also lost their price in the last 24 hours.
To discuss the prices of those coins and tokens, first, you need to know about Alameda Research
What is Alameda?
Alameda Research is one of the top leading crypto trading firms in the crypto industry since 2017. It provides liquidity in cryptocurrencies and digital assets markets. The platform trade thousands of different crypto coins with the help of a team having deep knowledge of the market. It trades digital assets, coins, altcoins, and their derivatives.
Almeda’s top coins, altcoins, and tokens include, Solana, Lido DAO Token, 1 Inch, SRM, MobileCoin, Alpha Venture DAO, and many other top coins. Due to the recent rumors of the FTX crash, these coins are doing very badly alongside FTT. Let’s discuss them one by one.
In the last 24 hours, the price of Solana decreases from $32 to $28. At the time of writing, it is trading at $27.1 with a 16% decrease in the last 24 hours. According to a crypto.com survey, 75% of users do not feel good about Solana today. The total market cap of Solana is $9,790,717,051 USD. Which decreased by 15% in the last 24 hours.
Lido DAO Token
Another Token LDT has lost its worth by 7% in the last 24 hours. Currently, it is trading at $1.54 compared to $1.73 24 hours ago.
1 Inch, a decentralized protocol acting as one of the fastest, most lucrative, and protected in the Defi space is also gone down due to FTX concerns. Its price is down by %8 from $0.655 to $0.5936 in 24 hours. Additionally, its market cap also lost 7% in 24 hours at the time of writing.
Just like other Alameda-associated coins and tokens, SRM is performing very badly in the recent market. At the time of writing, its price is down by 10% in the last 24 hours alongside a 10% decrease in total market cap. The price of SRM is $0.6858 today compared to $0.7629 24 hours ago.
This is the worst-performing coin in the list of Alameda-associated coins and tokens. Its price is down by 13% from yesterday’s price and this time it is trading at $0.831 compared to $0.9946 yesterday. Its market cap is also doing badly and has lost worth of 11% in the last 24 hours.
Those coins, tokens, and altcoins that are associated with Alameda Research are doing very badly in the market. For example, Liquity is down by 10% ALPHA by 12%, PERP by 10%, CLV by 8%, MAPS by 6%, XDEFI by 8.74%, and so on and so forth.
However, among these concerns, the CEO of Alameda, Caroline Ellison ensured everyone that the firm will remain solvent and will repay its loans. She also ensured that Alameda will buy those $500M worth of FTT tokens that Binance is planning to sell. So there is a grim of hope still present.