It has now been three years since FTX CRYPTO EXCHANGE collapsed in 2022With billions of dollars in investors and creditors with it. In recent years, the bankruptcy procedure has been finally taken and creditors have received a repayment plan. Now, with repayments already started, another part of billions of repayments are expected to be paid to creditors, and this is something that can affect the market.
Why FTX -CRYPTout payments can have an impact
Crypto -analyst Axel took to X (formerly Twitter) to reveal An important development that comes for the crypto market. This time it is the fact that the FTX Crypto Exchange is about to Process $ 5 billion in payouts Back to creditors at the end of the month. More importantly, these payments should be made in Stablecoins.
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The meaning of this is the fact that unlike previous paymentsThe StableCoin payments do so that there is nothing to dump on the market. It is either this money rotates back on the market. However, a pump would depend on the story of where these means would end up being distributed.
Distributions are expected to expire on May 30, which can put a lot of purchase pressure on the market. As the crypto analyst explains, the timing of this distribution cannot be better. The reason for this is that the Bitcoin Prize is still floating close all the time and Ethereum price is still increasing.
When the $ 5 billion distributed, the crypto analyst does not expect investors to leave the funds only sit off in their wallets. Besides, they will not only withdraw their funds and leave. This is because investors are already used to the market. So it is likely that they would end up on the market.
“Most of them stayed in crypto despite FTX outblowingNow they get their bags back, and they will rotate that liquidity back on the market, ”Axel explained. If these investors fall back on the market, it is expected to trigger a rally in the market.
The Crypto analyst also revealed targets for the market if this rotation occurs. For Bitcoin priceExpectations are that this influx of liquidity will drive the leading Cryptocurrency over $ 120,000. This increase is expected to trigger the next Altcoin season. “Eyes on May 30,” said the crypto analyst. “Feels like the beginning of the next leg.”
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