FTX cryptocurrency exchange token drops by 75%

The value of the FTX Token (FTT) cryptocurrency dropped by 75% overnight. On the evening of November 8, the asset’s quotes plummeted from $ 16.5 to $ 3 in just two hours. As of November 9, the value of the virtual currency was $ 4.15 with a market capitalization of $ 551.54 million. The figures pushed the digital asset to the 67th position in the top 100 ranking. Trading volumes provided by traders amounted to $ 3.30 billion.

TheBinance-prydbaye-kryptobirzhu-ftx/">situation with FTX has had a negative impact on the entire cryptocurrency market. In addition to FTT, the Aptos cryptocurrency (APT) was the most affected. The virtual asset is trading at $ 4.81, which is 22.14% lower than yesterday. The capitalization of the digital coin has reached $ 634.25 million, and daily trading volumes have exceeded $ 538.15 million.

The rate of the Solana digital currency (SOL) has also suffered severely, falling by 20.63% over the past 24 hours. The virtual asset is available for purchase at an average cost of $ 21.24, and the total supply of coins circulating on the market was fixed at $ 7.83 billion. Daily trading volumes reached $ 5.55 billion.

Terra Classic (LUNC) dropped by 18% and its capitalization amounted to $ 1.19 billion. Thus, cryptocurrencies, which have traditionally been the most volatile in the virtual asset market, suffered the most serious losses.

It should be added that the main altcoin also continued its dec line — in just 24 hours, ethereum fell by 12.23%, losing the key support level of $ 1500. At the time of writing, ETH is trading at $ 1,213. In total, over the past 24 hours, the entire cryptocurrency market has lost 7.09% of its capitalization, which currently stands at $ 907 billion.