Each day, the value of the FTX Token, FTT, decreases. And, as more information about FTX becomes available, the digital asset appears to be on its way to $0. Nonetheless, several other coins offer opportunities for investors to make gains.
FTX Bankruptcy Sees FTT Plunge
The FTX market and the broader market have been experiencing a whirlwind week. An investigation into financial impropriety at Alameda Research, a quantitative trading firm founded by former FTX boss Sam Bankman-Fried, rocked the market’s second-largest exchange.
Following the revelations, Binance CEO, Changpeng Zhao, confirmed that the exchange would liquidate all of its holdings in FTT. While Zhao had committed to a lengthy liquidation process, his tweet set off a fire sale as investors scrambled to get out of FTT. In the same vein, FTX’s users began withdrawing funds from the exchange en masse.
This led to FTX’s inability to process withdrawals and a liquidity crisis that immediately bankrupted the company. Eventually, the exchange had to turn to Binance for help.
On Tuesday, Zhao confirmed that Binance had signed a non-binding letter of intent to acquire FTX’s international business. This move alone caused a massive selloff in the market – and FTT, the asset that started this whole debacle, was hit the hardest. It lost 77% of its value between Tuesday and Wednesday as the liquidations kept coming.
Things worsened yesterday when Binance backed out of its deal to buy FTX. Per reports, FTX had misrepresented the extent of its liabilities, and Binance’s top brass was worried that this takeover could be a bridge too far.
FTX appears to be on its own, with no saviors in sight. As a result, the cost of FTT has decreased.
The asset is trading at $3.11, a downtrend of 31.51 in the last 24 hours.
Time to Consider High-Value Assets
The fallout from the FTX saga is still unfolding, and the market is most likely set to keep seeing its effects. However, this doesn’t necessarily mean that investors can’t make a profit. Several assets present massive profitability opportunities for investors looking to make gains.
Dash 2 Trade (D2T)
Dash 2 Trade is a crypto research and analytics platform that is committed to helping investors make money from the market. The platform offers several impressive tools, ranging from a trading application program interface (API) to a strategy builder for newbie investors.
As its native token, D2T allows Dash 2 Trade users to make payments for the platform’s services easily. It is currently available on presale, with over $5.5 million raised already. As the market continues to expand and new investors come in, Dash 2 Trade’s prospects continue to look brighter, as well as those of D2T. Buy D2T on Presale Now
RobotEra (TARO)
RobotEra is one of the newest presales in the market. The platform was built as a metaverse world-builder, where players can come in and own their avatars. With RobotEra, players can buy land, develop it, and explore the virtual world.
There are communal spaces where they can engage in multiple experiences. Players get to own everything they buy in RobotEra as the platform offers all properties as non-fungible tokens (NFTs).
Currently, TARO, RobotEra’s native token, is available on presale. The first stage of the presale just kicked off, but we expect it to see some impressive sales numbers in the coming days. There are several presale stages, so there are different profitability opportunities. Buy TARO on Presale.
Calvaria (RIA)
RIA is a crypto token that could be the next big thing in blockchain gaming.
With RIA, players can purchase NFT trading cards and build decks that compete against those of other players in Calvaria: Duels of Eternity. As expected, the objective is to win, and players can enjoy awesome rewards for their activity.
RIA will be used to facilitate NFT trades in Calvaria’s in-app marketplace. The asset can also be staked for more rewards while also offering governance through Calvaria’s decentralized autonomous organization (DAO).
After blitzing through the third stage of its presale, RIA is now unarguably one of the hottest presales. There are six presale stages to go, with the token’s price increasing by $0.005 in each stage. Buy RIA on Presale.
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