1/ FTX liquidity crunch in 10 charts:
• Asset withdrawals
• Outflow destinations
• Liquidations
and more 🧵
• Asset withdrawals
• Outflow destinations
• Liquidations
and more 🧵
2/ @cryptoquant_com data shows that $708M USD in stablecoins have been withdrawn since Oct 20.
According to the data, $170M USD is still sitting in FTX exchange reserves.
According to the data, $170M USD is still sitting in FTX exchange reserves.
3/ Nansen Stablecoin Master data shows FTX stablecoin balance at $116M, though.
According to Nansen data, $200M USD in stablecoins have left the exchange in the past 7 days.
Interestingly, it's still less than outflows from KuCoin.
What's happening at KuCoin?
According to Nansen data, $200M USD in stablecoins have left the exchange in the past 7 days.
Interestingly, it's still less than outflows from KuCoin.
What's happening at KuCoin?
4/ FTX's $ETH reseves have dropped significantly.
Still, according to CryptoQuant data 114k ETH ($151M) is still sitting in FTX's walllets.
(There's CryptoQuant disclaimer that data is incomplete.)
Still, according to CryptoQuant data 114k ETH ($151M) is still sitting in FTX's walllets.
(There's CryptoQuant disclaimer that data is incomplete.)
5/ Binance was the number 1 destination for crypto outflows from FTX.
60% of all withdrawals went to @binance, followed by outlows to Coinbase (13.4%)
90.6% of all outflows were destined to CEXes.
(Data: app.flipsidecrypto.com)
60% of all withdrawals went to @binance, followed by outlows to Coinbase (13.4%)
90.6% of all outflows were destined to CEXes.
(Data: app.flipsidecrypto.com)
6/ Alameda/FTX Net worth across all EVM chains stands at $151M.
Biggest holdings are:
• $USDC - $75M
• $BIT - $34M
• $WBTC - $10M
• $xSUSHI - $6M
• $SRM - $3.6M
Link: portfolio.nansen.ai
Biggest holdings are:
• $USDC - $75M
• $BIT - $34M
• $WBTC - $10M
• $xSUSHI - $6M
• $SRM - $3.6M
Link: portfolio.nansen.ai
7/ We can see clearly when #FTX stopped processing withdrawals from the Share of Gas fees spending by entity.
FTX was one of the largest gas spender on November 7th.
But on the night of 8th to 9th gas spenditure almost disappeared.
Data: @nansen_ai
FTX was one of the largest gas spender on November 7th.
But on the night of 8th to 9th gas spenditure almost disappeared.
Data: @nansen_ai
8/ The market panic resulted in Ethereum gas fee spike rising to up to 600 gwei.
The good news?
$ETH is now ultrasound money 🦇🔊
If Ethereum had not switched to POS, $ETH supply would have increased by 649k ETH ($860M USD).
The good news?
$ETH is now ultrasound money 🦇🔊
If Ethereum had not switched to POS, $ETH supply would have increased by 649k ETH ($860M USD).
9/ Total crypto long liquidations amounted to $679M USD as asset prices plunged.
$228M of longs were liquidated on Binance, followed by $130M on FTX.
OKx users suffered $117M in long liquidations as well.
(Data: Coinglass)
$228M of longs were liquidated on Binance, followed by $130M on FTX.
OKx users suffered $117M in long liquidations as well.
(Data: Coinglass)
10/ $FTT has suffered the biggest drop in price in the past 7 days.
-78.4% 🤯
That's a drop from $25 to $5.4. Yet, its market cap is still $746M.
Everyone suffered. Even $BNB dropped by 5.5% (24h)
-78.4% 🤯
That's a drop from $25 to $5.4. Yet, its market cap is still $746M.
Everyone suffered. Even $BNB dropped by 5.5% (24h)
11/ I'll finish by how it all started: Coindesk research on FTX solvency.
According to a private document CoinDesk reviewed, Alameda's assets amounted to $14.6B with $3.66B of 'unlocked FTT.'
Other assets included $3.37B of crypto: : $1.1BM of $SOL, $SRM, $MAPS, $OXY and $FIDA.
According to a private document CoinDesk reviewed, Alameda's assets amounted to $14.6B with $3.66B of 'unlocked FTT.'
Other assets included $3.37B of crypto: : $1.1BM of $SOL, $SRM, $MAPS, $OXY and $FIDA.
12/ Any other interesting data I missed?
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