whats going on FTX exchange:

Why FTX is falling?

The pressure on FTX came in part from Mr Zhao, who tweeted on Sunday that Binance would sell its holdings of FTX's digital token, known as FTT. "Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books," he said. FTT has lost almost 80% of its value this week.

What is FTX crisis?

Concerns then mounted about the exchange's apparent insolvency, and following CZ's announcement to acquire the Bahama-based exchange firm, there was a slowdown in withdrawals from FTX customers. The price of FTX's crypto token also plummeted by 80 per cent, wiping $2 billion (€2 billion) in value.

methodology:

We have used the following tables to build this dashboard:

• ethereum.core.fact_hourly_token_prices
• ethereum.core.ez_token_transfers

And the time frame that we got the necessary information for review is from November 1st

In this dashboard, we are trying to check what is happening to the FTX exchange.

And for this, we check the token price of this exchange, that is, FTT, and then we find the destination of the outgoing tokens, and we also get Netflow and the type of outgoing tokens.

Observation:

As you can see in the graph above, the price of the exclusive token of this exchange (FTT) has seen a heavy drop since the beginning of the period under review and has lost more than 75% of its value.

Since this exchange has been one of Solana's biggest investors, this incident has had a negative impact on this network and its native token and has caused its price to fall.

Observation:

• The largest asset in the wallets of FTX users is ftt with more than 42%.
• And the destination of almost 62% of the assets of FTX users is Binance exchange.
• And almost 85% of the output tokens are stablecoins.

conclusion:

From the charts and graphs above, it can be seen that the news and rumors created around this exchange have created a negative psychological atmosphere and fear among users, and as a result of this fear, users sell their assets to avoid losing their capital. . They have converted them to stablecoins, which has caused the price to drop in the market, which can be seen in the chart of the types of assets removed from this exchange, which is nearly 85% stablecoins. And almost 54% of users have migrated to Binance exchange. About 61% of the assets have been transferred to the Binance exchange.