The crypto space is flooded with new crypto predictions these days. Take a look at the latest ones below.
New crypto predictions are out
Messari, a crypto analytics firm, has predicted that three altcoins are likely to experience significant price drops because of impending FTX liquidations.
The firm states that FTX and Alameda hold $37 million worth of Dogecoin (DOGE), $33 million worth of Tron (TRX), and $22 million worth of Polygon (MATIC). However, the crucial factor is not the absolute value of the tokens held, but their volume relative to each asset’s actively traded volume.
For instance, FTX/Alameda’s BTC holdings ($353 million) represent only 1% of BTC’s weekly traded volume, suggesting that the market can absorb most of the selling without much impact, and the same applies to ETH.
At present, DOGE, TRX, and MATIC cryptocurrencies have lower liquidity as compared to others. The $20-$30 million held by FTX can affect the market significantly, comprising 6-12% of the weekly volumes.
As of now, DOGE is trading at $0.0613, and it has increased by more than 1.5% in the last 24 hours. It is ranked 9th in terms of market capitalization.
TRX, on the other hand, is trading at approximately $0.0815 and has increased by more than 5% in the past day. It is ranked 11th in terms of market capitalization.
Lastly, MATIC is trading at $0.511 and has increased by 1.75% in the past 24 hours. It is ranked 14th in terms of market capitalization.
According to Messari, Alameda owns $720 million worth of Solana (SOL) blockchain and $66 million worth of Aptos (APT) blockchain.
However, it’s important to note that these holdings mostly consist of vesting tokens, which will be sold gradually. This is likely to reduce their impact on the price.
There are all kinds of exciting moves taking place in the crypto space, so we suggest that you check out the latest news and reports and also keep an eye on the market.