Prescribed cash repayments to FTX creditors could create a wave of bullish "buying pressure" in the cryptocurrency market, according to analysts at K33 Research. The payouts could create "bullish suspense" in the market, K33 analysts Vetle Lunde and Anders Hesleth said in a note. Not all creditor repayments are bearish. They compared FTX's expected cash repayments to the cryptocurrency-based repayments planned by Mt. Gox and Gemini, which together are currently valued at $10.60 billion.
Vetle Lunde and Anders Hesleth conclude that buying pressure from cash recipients will offset selling pressure from physical recipients.
Golden Finance previously reported that FTX will pay at least $14.50 billion in cash to users who lose money due to the exchange's bankruptcy.
K33 Research: Pre-payment of cash to FTX creditors could generate a wave of bullish "buying pressure" on the market
2024-05-16 02:01:03
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