Virtually $30 Million Value of XRP Left in FTX , Here is How Harmful It Is

In keeping with crypto analytics portal Kaiko, the mixed accounts of FTX, FTX US and its affiliate buying and selling agency, Alameda Analysis, nonetheless maintain $3.3 billion in varied crypto belongings. Amongst them is XRP, of which the collapsed crypto empire has as many as $29 million price of tokens.

A slide from a FTX chapter deck was leaked earlier this week, the place FTX listed their “liquid” belongings

Let’s have a better look to see if collectors can anticipate any worth when the holdings are liquidated ⬇️

1/5 pic.twitter.com/y8zFseVjkO

— Kaiko (@KaikoData) January 20, 2023

Even supposing something FTX-related has been thought-about poisonous for the previous two months, XRP holders needn’t fear about this locked-in quantity. In keeping with Kaiko, even when these accounts are liquidated, which means belongings are dumped onto the market, the XRP worth won’t really feel any stress. This is because of XRP’s liquidity, which is reportedly the fourth greatest on the complete crypto market.

Market shallows

If XRP’s market depth gives the token with a form of security cushion, the identical can’t be stated for SOL, APT, TON and FTT. In keeping with Kaiko, these crypto belongings are more likely to endure essentially the most within the occasion of a potential liquidation of the accounts of the trio.

Whereas the mixed worth of SOL and FTT amounting to greater than $1.2 billion gave rise to such ideas, with Toncoin (TON) and Aptos (APT), issues are a little bit extra refined. Thus, if the information is to be believed, with the mixed worth of APT and TON positions at $98 million, the amount of bids for each on centralized exchanges doesn’t exceed $4.5 million.