{"id":340858,"date":"2023-09-05T09:00:32","date_gmt":"2023-09-05T03:30:32","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=340858"},"modified":"2024-01-26T14:37:48","modified_gmt":"2024-01-26T09:07:48","slug":"how-uni-sushi-reacted-to-ftxs-latest-move","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/how-uni-sushi-reacted-to-ftxs-latest-move\/","title":{"rendered":"How UNI, SUSHI reacted to FTX&#8217;s latest move"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">An FTX wallet recently moved $1.8 million worth of UNI and $550,000 worth of SUSHI tokens.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">UNI and SUSHI reacted differently to the recent developments.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Nearly one year following the FTX crash, the repercussions of the failed exchange continue to cast a shadow over the cryptocurrency sphere. A recent report revealed that an FTX wallet transferred certain Uniswap and SushiSwap tokens from the Solana blockchain to the Ethereum blockchain. How did these tokens respond to this transfer?<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">\u00a0How much are 1,10,100 UNIs worth today<\/p>\n<hr \/>\n<h4><b>FTX move Uniswap and Sushi<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A wallet linked to FTX recently transferred tokens valued at $10 million from the Solana blockchain to the Ethereum blockchain. This transfer encompassed assets such as $1.8 million worth of <a href=\"http:\/\/ambcrypto.com\/uniswap-to-dole-out-rewards-for-those-users-who\/\" target=\"_blank\" rel=\"noopener\">Uniswap<\/a> (UNI), approximately $550,000 worth of <a href=\"http:\/\/ambcrypto.com\/why-sushiswap-is-seeing-growth-despite-bear-market\/\" target=\"_blank\" rel=\"noopener\">SushiSwap<\/a> (SUSHI), as well as FTX&#8217;s native tokens &#8211; FTT, HXRO, and Frontier Token &#8211; amounting to the total sum of $10 million.<br \/>\n<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8 FTX wallets on the move\ud83d\udea8<\/p>\n<p>Over $1.5B worth of <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a>, SPL tokens, and Wrapped <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>    in FTX&#39;s Solana addresses are shifting\u203c\ufe0f<\/p>\n<p>Looks like they&#39;re gearing up for potential sell-offs.<\/p>\n<p> Keep an eye on this, especially the ~$200M in <a href=\"https:\/\/twitter.com\/hashtag\/Solana?src=hash&amp;ref_src=twsrc%5Etfw\">#Solana<\/a> Wrapped <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>.<a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> \u2026 <a href=\"https:\/\/t.co\/sRDI6hvTJD\">pic.twitter.com\/sRDI6hvTJD<\/a><\/p>\n<p>&mdash; Pump House \ud83c\udf65 (@pumphouz) <a href=\"https:\/\/twitter.com\/pumphouz\/status\/1698215907506499852?ref_src=twsrc%5Etfw\">September 3, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">This move has sparked significant interest and speculation as it could signal preparations for a sell-off by the beleaguered exchange. On 24 August, FTX proposed a strategic plan involving the appointment of Mike Novogratz&#8217;s Galaxy Digital Capital Management as the investment manager responsible for overseeing the sale and management of FTX&#8217;s recovered cryptocurrency holdings.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, according to the proposed plan, the FTX estate would be permitted to sell a maximum of $100 million worth of tokens per week, possibly increasing this limit to $200 million on an individual token basis. These limits are designed to mitigate the impact of token sales while simultaneously facilitating the restitution of creditors&#8217; claims.<\/span><\/p>\n<h4><b>Did Uniswap and Sushi react?<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Analyzing the daily timeframe chart of <a href=\"http:\/\/ambcrypto.com\/as-uniswap-makes-strides-in-the-defi-sector-heres-how-uni-reacted\/\" target=\"_blank\" rel=\"noopener\">Uniswap<\/a> (UNI), it became evident that the recent FTX transaction had no adverse effects on its price trajectory. On the chart, UNI displayed a series of favorable price movements over the past few days. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, UNI was trading at approximately $4.4, reflecting a minor increase of less than 1%. Furthermore, this consistent uptrend has led UNI away from the oversold territory on its Relative Strength Index (RSI). However, it was still in a bearish trend.<\/span><\/p>\n<figure id=\"attachment_340901\" aria-describedby=\"caption-attachment-340901\" style=\"width: 1491px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/UNIUSDT_2023-09-04_12-11-22.png\"><img decoding=\"async\" class=\"wp-image-340901 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/UNIUSDT_2023-09-04_12-11-22.png\" alt=\"Uniswap price trend post FTX news\" width=\"1491\" height=\"707\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/UNIUSDT_2023-09-04_12-11-22.png 1491w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/UNIUSDT_2023-09-04_12-11-22-300x142.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/UNIUSDT_2023-09-04_12-11-22-1024x486.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/UNIUSDT_2023-09-04_12-11-22-768x364.png 768w\" sizes=\"(max-width: 1491px) 100vw, 1491px\" \/><\/a><figcaption id=\"caption-attachment-340901\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">In contrast, <a href=\"http:\/\/ambcrypto.com\/sushiswap-this-new-tokenomics-model-to-be-introduced-following-3m-hack\/\" target=\"_blank\" rel=\"noopener\">SushiSwap<\/a> did not share the same positive momentum as UNI. As of this writing, Sushi was trading at around $0.5, indicating a slight loss of less than 1% in price.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Additionally, over the past six days, Sushi only once recorded a positive session closure. The prevailing price trend for Sushi appeared strongly bearish, as indicated by its RSI.<\/span><\/p>\n<figure id=\"attachment_340902\" aria-describedby=\"caption-attachment-340902\" style=\"width: 1491px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/SUSHIUSDT_2023-09-04_12-17-38.png\"><img decoding=\"async\" class=\"wp-image-340902 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/SUSHIUSDT_2023-09-04_12-17-38.png\" alt=\"SushiSwap price trend after FTX news\" width=\"1491\" height=\"707\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/SUSHIUSDT_2023-09-04_12-17-38.png 1491w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/SUSHIUSDT_2023-09-04_12-17-38-300x142.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/SUSHIUSDT_2023-09-04_12-17-38-1024x486.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/SUSHIUSDT_2023-09-04_12-17-38-768x364.png 768w\" sizes=\"(max-width: 1491px) 100vw, 1491px\" \/><\/a><figcaption id=\"caption-attachment-340902\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the <a href=\"http:\/\/ambcrypto.com\/calculator\/sushi-profit-calculator\" target=\"_blank\" rel=\"noopener\">Sushiswap Profit Calculator<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">The trial of Sam Bankman-Fried is scheduled for October, marking a pivotal moment in the ongoing FTX saga. A r<a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.590940\/gov.uscourts.nysd.590940.245.0.pdf\" target=\"_blank\" rel=\"noopener\">ecent document revealed that the Department of Justice<\/a> (DOJ) was still collecting evidence and determining what would be presented during his trial. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nevertheless, the exchange&#8217;s fate remains uncertain, particularly regarding its continued operations and the potential sale of tokens such as Uniswap and Sushi.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTX&#8217;s $10 million token transfer sparks intrigue. Uniswap soars while Sushi struggles. As Sam Bankman-Fried&#8217;s trial looms, uncertainty shrouds the exchange&#8217;s future.<\/p>\n","protected":false},"author":76,"featured_media":340904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-340858","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How UNI, SUSHI reacted to FTX&#039;s latest move - AMBCrypto<\/title>\n<meta name=\"description\" content=\"A recent move observed from an FTX wallet has sparked speculations of the sell-off of tokens like Uniswap and SushiSwap.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/how-uni-sushi-reacted-to-ftxs-latest-move\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How UNI, SUSHI reacted to FTX&#039;s latest move - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"FTX&#039;s $10 million token transfer sparks intrigue. 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