Faced with the inability to withdraw from the FTX cryptocurrency exchange, TRON founder Justin Sun yesterday promised to redeem TRON tokens one-for-one, causing the TRX, BTT, JST, SUN, HT and other tokens within FTX to skyrocket. at the time of writing, the Sun’s ticket even rose to more than 32 times the over-the-counter price, showing consumers’ desire to escape cash.
(Review:SBF admits $8 billion FTX liquidity gap, and goes bankrupt without new money! CZ: But void )
(Additional background: Expecting to flee FTX? Justin Sun promises 1:1 acceptance of TRON tokens, with a 6% premium for TRX and HT)
addThere was a thunderstorm on the cryptocurrency exchange FTX (8) days ago. Since yesterday (9), withdrawals have been stopped, causing panic in the market. Since yesterday, TRON founder Justin Sun also said the it will promise withdrawal within FTX. TRON based tokens that do not appear (TRX, BTT, JST, SUN, HT), etc. to provide 1:1 off-site exchange, fill out the form related to FTX payment.
@HuobiGlobal a @trondao TRON DAO Permanent 1:1 Accept Rigid #FTX TRON tokens #TRX, #BTT, #JST, #SUN, #HT a decision.
— HE Justin Sun???????????????????????? (@justinsuntron) November 9, 2022
Justin Sun said that he would coordinate with the FTX platform on synchronizing and withdrawing the above tokens based on the form, but FTX has not given any response at this time, so it is still unknown whether it can be realized Justin Sun promise.
Nevertheless, even if FTX stops withdrawing funds from the FTX exchange, the ecological tokens associated with TRON have become a wild rush for users who still have funds in the exchange (no can be withdrawn).
As of the deadline, FTX’s current spot increase positions are basically fully occupied by Huobi-based loans. Among them, the price of SUN tokens even reached US$0.17 for 7:00am today (10th), and at the same time, the external environment is normal. The price is about $0.005251, and the price difference is more than 32 times. Other tokens including BTT, HT, JST, TRX, etc. over 20~600% higher than the external price.
It must be said that in the case of a high premium, even if Justin Sun’s promise can be fulfilled, the users who receive it will face financial losses based on the premium rate, but many users are still willing to gamble instead of sitting still and waiting. A handful, after all, it is possible to have a little, but it is better than not to have it.
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