global cryptocurrency market The overall crypto market capitalization fell by over 12% compared to yesterday and the market capitalization of DeFi coins fell by over 13%. Bitcoin Falling over 16%, it broke the June yearly low to establish a new low of $17,114. Similarly, ftt fell Over 85% before recovering to trade above $2.70.
The dramatic price action was caused by FTX’s recent acknowledgment that the exchange was experiencing lack of liquidity, The bankruptcy was so serious that Sam Bankman-Fried, CEO, approved selling ftx for an undisclosed amount to competing cryptocurrency exchange Binance.
Why are crypto prices down today?
Binance’s sudden and unexpectedly planned acquisition of longtime rival crypto exchange FTX will raise scrutiny of the asset class. Binance CEO, Changpeng ‘CZ’ Zhao tweeted on Tuesday that Binance has Put signature on A “non-binding” letter of intent and “FTX asked for our help” of intent to buy FTX outright due to lack of liquidity.
The deal does not include FTX’s operations in the United States, and it is unclear whether the venture capital segment of the market maker will also be acquired. A Binance spokesperson did not immediately respond to a request for comment. A representative for FTX declined to comment, referring to CEO Sam Bankman-tweets.
Fried’s Matt Lesson, a chief investment officer at digital-asset-oriented Globe3 Capital, expressed concern that FTX needed to be backed up, noting that they were “early backstops” for Celsius and Voyager Digital this summer. , both filed for bankruptcy.
‘There is a lot to cover and it will take some time,’ Zhao commented in a later tweet.
Instead of making a statement, an FTX representative referred all questions to CEO Sam Bankman-Twitter. Matt Lesson, chief investment officer at Fried Globe 3 Capital, which specializes in digital assets, sounded the alarm over the need to bail out FTX as the company was the “original backstop” for crypto lenders Celsius and Voyager Digital, which launched this summer. had filed for bankruptcy.
Crypto Prices Crash But These 3 Coins Are 10x . can be
This scenario has triggered a risk-off sentiment and bearish expectations in the cryptocurrency market. However, the new coins in the presale have higher potential. Let’s look at the top three coins in pre-sale with high upside potential.
Dash 2 Trade (D2T)
D2T Presales 2nd stage already sold out, picking up $5.16 million In just two weeks. Dash 2 Trade is a concept developed by Learn 2 Trade, a hugely popular trading signals company that will be launched in the first quarter of 2023. The platform aims to provide market driven insights to help investors make informed decisions.
D2T also provides trading signals, social analytics and even market sentiment analysis to enhance the trading experience. According to the development team, Dash2Trade aspires to be a Bloomberg trading terminal for cryptocurrencies. The platform also includes automation and backtesting capabilities to automate trading processes and optimize all trading methods.
Dash2Trade includes a notification service that notifies investors about all new coin listings on centralized exchanges, giving them access to information previously available only to elite investors. With so much potential, it’s no surprise that D2T presale numbers have been phenomenal.
The digital currency has already raised over $5,749,969 ($5.7 million).
Calvaria (RIA)
calvaria is a brand new cryptocurrency gaming project that has the potential to be the market leader in the play-to-earn genre. Calvaria developers saw two significant obstacles to the widespread adoption of Web3 gaming. While investors see the potential of Web3 games, users do not.
Calvaria’s pre-sale, which is already in Phase 4 of 10 and nearing the $1.6 million threshold, continues to accelerate. Investors are flocking to the fast-growing GameFi project as the price of the native RIA token increases significantly with each pre-sale phase.
Each token is priced at $0.025 in Phase 4, but by Phase 5, the price has climbed to $0.03, and in Phase 10 the price of the token is $0.055.
IMPT
By chaining carbon credits, the team at IMPT is making the world of carbon credits more efficient than ever. The carbon credit system was previously extremely opaque; It was only relevant to businesses, and doing business with them was inefficient and out of date. Carbon credits can be sold on the blockchain as NFTs 24 hours a day, seven days a week.
According to Broadridge Financial Solutions, the carbon credit market will exceed $50 billion by 2030, while the ESG industry will exceed $30 trillion. Over 25,000 businesses have already signed up for it IMPT Shopping platforms including industry giants such as Microsoft, River Island, Amazon and Samsung.
With this, the IMPT presale has now raised $12 million and is selling out quickly. The price of the IMPT token increased with each stage of the pre-sale to $0.023.
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