Almost $30 Million Worth of XRP Left in FTX , Here's How Dangerous It Is

According to crypto analytics portal Kaiko, the combined accounts of FTX, FTX US and its affiliate trading firm, Alameda Research, still hold $3.3 billion in various crypto assets. Among them is $XRP, of which the collapsed crypto empire has as many as $29 million worth of tokens.

A slide from a FTX bankruptcy deck was leaked earlier this week, where FTX listed their "liquid" assets

Let's have a closer look to see if creditors can expect any value when the holdings are liquidated ⬇️

1/5 pic.twitter.com/y8zFseVjkO

— Kaiko (@KaikoData) January 20, 2023

Despite the fact that anything FTX-related has been considered toxic for the past two months, $XRP holders need not worry about this locked-in volume. According to Kaiko, even if these accounts are liquidated, meaning assets are dumped onto the market, the $XRP price will not feel any pressure. This is due to $XRP's liquidity, which is reportedly the fourth best on the entire crypto market.

Market shallows

If $XRP's market depth provides the token with a sort of safety cushion, the same cannot be said for $SOL, $APT, $TON and $FTT. According to Kaiko, these crypto assets are likely to suffer the most in the event of a possible liquidation of the accounts of the trio.

While the combined value of $SOL and $FTT amounting to more than $1.2 billion gave rise to such thoughts, with Toncoin ($TON) and Aptos ($APT), things are a little more sophisticated. Thus, if the data is to be believed, with the combined value of $APT and $TON positions at $98 million, the volume of bids for both on centralized exchanges does not exceed $4.5 million.