The crypto market became red with massive losses on Tuesday. Some analysts speculated that the selling pressure on Bitcoin and Ethereum from FTX’s attempt to raise liquidity against impending insolvency caused this cascade of losses. Some analytics data revealed that FTX liquidated its ETH holdings, which placed selling pressure on Ethereum and extended a sell-off to Bitcoin. However, despite FTX’s actions in the market to withstand the tanking of its token FTT, the asset didn’t recover. Related Reading: These Solana Numbers May Scare Off SOL Investors – Here’s Why As of November 7, FTT was down by 19% and has dropped further by 73.04%. News of the FTT collapse spread through the entire crypto market like wildfire with accompanying losses. As a result, the crypto market lost nearly $100 billion, slumping by 10% in the last 24 hours, including a 10% drop in the NASDAQ:COIN stock by the end of Tuesday. The massive loss and sell-offs in the crypto market presented an opportunity for some crypto investors to stuff their wallets with assets. Cathie Woods’ Ark Invest seized an opportuni ..
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