The FTX Estate Has Staked 5.5 million SOL Tokens During Market Scrutiny
FTX estate has staked 5.5 million SOL tokens with Figment, a positive indicator for Solana in light of the recent recovery of $7 billion in assets.
The FTX estate has placed a massive bet in Figment, totaling an astounding 5.5 million Solana (SOL) tokens. According to SolanaFM’s on-chain data, this equates to a whopping $122. Investors were worried that the estate may sell up its massive Solana holdings, so the decision comes as a relief. A move like that might have lowered the price of SOLs on the market. However, the FTX estate’s recent staking shows that they are bullish on Solana’s future prospects.
$7 Billion in Assets Revealed by FTX Estate
Since this news broke, the price of the SOL token has risen by 1.84%, to where it is now, at $21.99. According to the market, this shows support from the FTX estate for the Solana blockchain.
The FTX estate disclosed on September 11, 2023, in a court document that they had recovered assets worth close to $7 billion. Included in this massive quantity is more than a billion dollars’ worth of staked SOL tokens. In addition, there is about $560 million worth of Bitcoin (BTC) in the estate’s possession. In addition to its crypto holdings, the estate also owns real estate in The Bahamas worth an estimated $200 million. About $1.9 billion was reportedly reported to be stuck in illiquid assets. These numbers illustrate the breadth of the FTX estate’s assets and the scope of their continuing management and recovery efforts.
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The Solana Network Could Benefit from FTX Staking
The FTX estate’s decision to stake SOL could have far-reaching implications for the development of the Solana network. All eyes will be on the estate as it takes the next step toward unlocking SOL tokens. Their actions may alter the equilibrium of the cryptocurrency market. The previous CEO of the exchange, Sam Bankman-Fried, is also involved in a judicial battle related to fraud claims. So, the FTX estate is making a bold move that could help bring peace to the Solana neighborhood.
Where to Trade Crypto Futures?
Now you can trade Bitcoin (BTC) futures on BTCC. BTCC, a cryptocurrency exchange , was founded in June 2011 with the goal of making crypto trading reliable and accessible to everyone. BTCC is a crypto exchange offering users liquid and low-fee futures trading of both cryptocurrencies and tokenized traditional financial instruments like stocks and commodities.
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- 1. Download the BTCC App via App Store or Google Play
- 2. Register and verify your account, or log in to your BTCC account.
- 3. Tap ‘Buy Crypto’.
- *Please note that only verified users are eligible to buy crypto on BTCC.
- 4. Enter the amount you would like to buy in USDT.
- 5. Select a service provider and proceed to payment.
How to Trade Crypto Futures on BTCC ?
To trade Crypto Futures on BTCC, follow these simple steps:
- Create an account
Go to the BTCC website and fill out the registration form with the necessary details. Finish the checks to make sure you’re in line with the stock exchange’s rules.
- Deposit funds
Fund your BTCC wallet once your account has been created and verified. You can fund your BTCC account with a number of different cryptocurrencies and fiat currencies.
- Navigate to the crypto trading section
You can begin trading on the BTCC platform as soon as your account has been funded. Find the crypto exchange rate, which is written as crypto/Bitcoin (BTC) or crypto/US Dollar (USDT) depending on the other pairs available.s.
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Both spot trading and futures trading are available through BTCC. If you want to purchase or sell crypto tokens at the current market price, you may want to investigate spot trading. If you’d rather trade crypto with leverage and speculate on its price movements, you can do so with crypto Futures.
- Place your trade
After deciding which type of deal you want to make, you can enter the amount of crypto you like to buy or sell, as well as your preferred price (if necessary). If everything checks out, go ahead and make the deal.
- Monitor and manage your trades
Be sure to monitor your crypto holdings on the BTCC exchange. To limit losses and protect gains, you can use stop-loss and take-profit orders. It is also important to keep up with the latest crypto market trends and news if you want to successfully trade this cryptocurrency.
Before becoming involved in any kind of trading, make sure you’ve done your homework. Due to the extreme volatility of the cryptocurrency markets, it is crucial to have a well-defined trading strategy and risk management framework in place. To successfully trade crypto on the BTCC market and take advantage of the chances it provides, follow these procedures and keep yourself updated.
Look More:How to Deposit Crypto on BTCC?
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Why Trade Crypto Futures on BTCC
To trade Crypto futures, you can choose BTCC crypto exchange.BTCC, a cryptocurrency exchange , was founded in June 2011 with the goal of making crypto trading reliable and accessible to everyone. Over 11 years of providing crypto futures trading services. 0 security incidents. Market-leading liquidity.
Traders may opt to trade on BTCC for a variety of reasons:
- Secure：safe and secure operating history of 11 years. Safeguarding users’ assets with multi-risk management through the ups and downs of many market cycles
- Top Liquidity：With BTCC’s market-leading liquidity, users can place orders of any amount—whAVAXer it’s as small as 0.01 BTC or as large as 50 BTC—instantly on our platform.
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BTCC FAQs
1.Is BTCC safe?
Since its inception in 2011, BTCC has made it a priority to create a secure space for all of its visitors. Measures consist of things like a robust verification process, two-factor authentication, etc. It is considered one of the most secure markets to buy and sell cryptocurrencies and other digital assets.
2.Is it possible for me to invest in BTCC?
Users are encouraged to check if the exchange delivers to their area. Investors in BTCC must be able to deal in US dollars.
3.Can I Trade BTCC in the U.S?
Yes, US-based investors can begin trading on BTCC and access the thriving crypto asset secondary market to buy, sell, and trade cryptocurrencies.
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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