Almost $30 million XRP left in FTX, here’s how dangerous it is

According to the Cryptocurrency Analytics Portal Kaiko, the combined accounts of FTX, FTX US and its affiliated trading company, Alameda Research, still hold $3.3 billion in various crypto assets. Among them is XRP, whose collapsed crypto-empire owns no less than $29 million in tokens.

Despite the fact that everything related to FTX has been considered toxic for the past few months, XRP holders need not worry about this blocked volume. According to Kaiko, the price of XRP will not come under pressure even if these accounts are liquidated, i.e. the assets are dumped on the market. This is due to the liquidity of XRP, which is said to be the fourth best in the entire crypto market.

The market is deteriorating

While XRP’s market depth offers the token a cushion of sorts, the same is not true of SOL, APT, TON and FTT. According to Kaiko, these crypto assets are likely to suffer the most from a potential liquidation of the trio’s accounts.

While SOL and FTT’s combined value of over $1.2 billion has prompted such thoughts, things are a bit more sophisticated with Toncoin (TON) and Aptos (APT). So, if the data is to be believed, while the combined value of APT and TON positions is $98 million, the volume of bids for both on centralized exchanges does not exceed $4.5 million. .

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