Upbeat sentiment caused by news that news that Binance will acquire FTX to cover a liquidity crunch at the latter did not last very long. Binance Chief Executive Changpeng Zhao said today the company had signed a non-binding agreement to buy rival FTX's unit following solvency concerns, however this brought only a temporary relief to crypto bulls. Currently majority of projects (with an exception of Binancecoin) fell to new session lows, as it seems that traders realized that the insolvency of major cryptocurrency exchange is not a good news.
Bitcoin fell below major support at $19500. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
FTX fell around 60.0% during today's session. Source: xStation5
Binancecoin erased most of the fresh gains. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
