Cryptocurrency

Market rally pumps bankrupt crypto firm holdings

According to Arkham Intelligence dashboard, the recent crypto market rally has increased crypto holdings of multiple crypto companies that have gone bankrupt in the past 24 hours.

Over the past 24 hours, major digital assets such as Bitcoin (BTC) and Ethereum (ETH) have each gained more than 7%. According to the report, the global cryptocurrency market capitalization also exceeded $1 trillion during the reporting period. of crypto slate data.

FTX stake rises by $63 million

The crypto portfolio of bankrupt crypto exchange FTX has increased by approximately $63 million. Except for Euler’s Finance EUL token and Unus Sed Leo’s native token, other digital assets in the exchange’s portfolio posted gains.

FTX management integrates bankruptcy company assets from various on-chain sources into the wallet.

According to the dashboard, FTX’s FTT makes up the bulk of the profit. The token rose 5.64% in the last 24 hours, adding $24.25 million to the bankrupt company’s portfolio.

Other assets like the beleaguered stablecoin USD Coin (USDC) added $3.6 million to its holdings. That his ETH holdings increased his $3.78 million and his MATIC holdings in Polygon increased his $3.55 million.

FTX holding virtual currency
Source: Arkham Intelligence

Its obscure altcoin holdings like BOBA each added over $1.6 million to the company’s overall portfolio.

On the other hand, wallets connected to sister company Alameda Research, Obtained $21.19 million, mostly from BitDAO (BIT), USDC, and ETH holdings.

Celsius and Voyager holdings increased by more than $50 million each

Looking at the crypto holdings of other bankrupt crypto lenders like Celsius Network and Voyager, we can see that they too are benefiting from the pump.

A wallet connected to the Celsius network gain Over $1 trillion, an increase of $133.15 million. Profits from bankrupt lenders increased by $82.36 million, mainly due to staked Ethereum (stETH) holdings. Celsius (CEL) token increased by $29.32 million and ETH holdings increased by about $10 million.

Celsius network
Source: Arkham Intelligence

In addition, other assets such as USDC, Chainlink (LINK) and Wrapped Ethereum (wETH) recorded profits of over 1 million.

Meanwhile, the dashboard shows Voyager Digital’s assets rallied $50.65 million. The bankrupt firm liquidated assets to his USDC and had previously recorded a loss of about $45 million, Arkham Intelligence said. murmured March 11.

voyager possession
Source: Arkham Intelligence

However, USDC holdings increased by $26.88 million, while Ethereum and Shiba Inu (SHIB) holdings surged by $15.05 million and $3.30, respectively, as stablecoins regained their pegs along with the broader market rally. .

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