Journalist
Posted:
- About $36 million worth of AVAX and Polygon has been moved to the Binance exchange.
- The FTT has risen by more than 30% in the past 24 hours.
Over the past 24 hours, FTX [FTT] transferred $36 million to Polygon [MATIC] and avalanche [AVAX] to Binance [BNB] stock exchange. The price development of the FTT showed an intriguing movement during the same period.
FTX moves more than $30 million of MATIC and AVAX
From Look at chainFTX recently transferred approximately 26 million MATIC tokens, worth approximately $17 million, and 975,000 AVAX tokens, worth approximately $19.25 million, to the Binance exchange.
This transaction contributed to the exchange’s total asset movement of over $36 million in the past 24 hours. This action is part of FTX’s ongoing liquidation of crypto assets to address outstanding debt after the crash.
How Polygon and Avalanche have trended over the past 24 hours
As of the close of business on November 21st Polygon had suffered a notable drop of over 10%, settling at around $0.72. This decline extended the decline of the past two days to about 15%.
However, at the time of this update, MATIC had shown a recovery. The price rose by more than 4% to trade around $0.76. The Relative Strength Index (RSI) also showed signs of an upward trend, although it remained below the neutral line.
Source: TradingView
The price of AVAX also saw a significant decline in recent days. Between November 20 and 21, AVAX experienced a decline of more than 16%. Like MATIC, it was in a recovery phase at the time of writing, up more than 5% and reaching around $20.
AVAX was showing a strong bullish trend at the time of writing, with its RSI crossing 60%, which differentiates it from MATIC.
Source: TradingView
FTT makes huge profits
Another intriguing price development concerns the FTT sign. Although discussions about restarting the exchange continue, concrete results have yet to be achieved. However, the exchange’s native token has shown notable moves over the past 24 hours.
Realistic or not, here is AVAX’s market cap in terms of SOL
An examination of the daily price development chart revealed a significant increase. At the time of this update, FTT was up over 30% to around $4.3. Moreover, the RSI moved into oversold territory.
Source: TradingView
Further examination of the chart revealed a recurring theme of value spikes in November.
