Three altcoins could suffer price dips due to upcoming FTX liquidations, according to the crypto analytics firm Messari.
Messari notes that FTX and Alameda hold $37 million worth of top meme asset Dogecoin (DOGE), $33 million worth of blockchain-based operating system Tron (TRX) and $22 million worth of the scaling solution Polygon (MATIC).
“The relevant figure isn’t the absolute value of the tokens held, but rather their amount relative to each asset’s actively traded volume. For example, FTX/Alameda’s BTC holdings ($353 million) are roughly 1% of BTC’s weekly traded volume, meaning the market can absorb much of the selling, and the same goes for ETH.”
However, for DOGE, TRX, and MATIC, which are far less liquid, the $20~$30 million FTX holds represents 6-12% of weekly