Best Crypto to Buy Now September 13 – Toncoin, Radix, Bitcoin SV
Delaware Bankruptcy Court officials are expected to rule today on cryptocurrency exchange FTX's request to liquidate up to $3.4 billion in digital assets.
The potential sell-off has raised concerns about its possible impacts on the already struggling cryptocurrency market.
Given this backdrop, what are the best cryptos to buy now?
FTX seeks to sell off holdings of Bitcoin, Ether, Solana, and other tokens to raise capital and pay back creditors.
The proposal has raised concerns among U.S. bankruptcy regulators that selling large amounts of crypto assets could further destabilize the market.
In a compromise, FTX agreed to privately update the U.S. Trustee and creditor committees on planned sales to avoid sparking panic selling.
FTX currently holds approximately $685 million in locked Solana tokens, $529 million in FTT, its native token, along with Bitcoin, Ethereum, and other cryptocurrencies.
The exchange proposes selling up to $100 million per week initially, with the potential to increase to $200 million on a token-to-token basis.
Analysts warn the large-scale sell-off could particularly impact Solana, one of FTX's biggest holdings. However, most Solana tokens are locked until 2025, reducing immediate liquidation fears.
The asset sale comes as FTX has filed a $21 million lawsuit against LayerZero over disputed transactions. These ongoing legal challenges could potentially complicate the timing and feasibility of FTX's planned liquidation.
Some market observers note asset sell-offs have historically preceded crypto price declines. With the market already on shaky ground, the impending FTX liquidation could bring further turbulence.
With the market eyeing FTX's liquidation closely, Toncoin, Wall Street Memes, Radix, Bitcoin BSC, and
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