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Altcoins Reaching All-Time Highs After FTX Crash

May 30, 2024

An intriguing revelation has surfaced in the cryptocurrency sector, revealing the aftermath of the FTX crash. Post the FTX collapse, a mere 8 altcoins surged to reach unparalleled highs in Bitcoin correlation against BTC. The analysis focused on altcoins existing in the market at the time of the FTX crash.

FTX, a prominent cryptocurrency exchange of its era, suffered a significant downfall, leading to its abrupt closure along with the loss of user assets, never to be recovered.

The 8 altcoins that achieved all-time highs in BTC equivalence following the FTX crash are:

  • Render (RNDR)
  • Tellor (TRB)
  • Injective (INJ)
  • Primer (ASTR)
  • ssv.network (SSV)
  • SingularityNET (AGIX)
  • Trust Wallet Token (TWT)
  • Binance Coin (BNB)

Sam Bankman-Fried, a co-founder of FTX, attained celebrity status as the platform grew to become one of the leading global cryptocurrency exchanges, attracting a vast user base for cryptocurrency trading. The demise of FTX unfolded rapidly, triggered by rumors of financial instability that led to a wave of withdrawals, causing the collapse of the firm and exposing Bankman-Fried's alleged wrongdoings.

Disclaimer: This content does not constitute investment advice.

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