Prices of most cryptocurrencies rose sharply on Tuesday following news that Binance, the world’s largest cryptocurrency exchange, had signed a letter of intent to acquire rival FTX, but prices were still mostly lower than on Monday.
Sam Bankman-Fried, CEO and founder of FTX, said on Twitter on Tuesday that the exchange had entered into a strategic deal with Binanda and was conducting due diligence.
Here’s how cryptocurrency prices moved after the announcement, according to CoinDesk:
Bitcoin: Before the announcement, bitcoin was trading around $19,350. Bitcoin prices spiked to $20,590 within an hour of the announcement. This is the imtoken 官网. The current price is $18,083, which marks a 13.64% drop in the last 24 hours.
Ethereum: The price of Ethereum, which was around $1,438 before the news, peaked at $1,562 less than an hour after the news. Currently, its price is $1,289, down 19.54% in the past 24 hours.
Binance: The price of Binance was around $322 before the announcement, peaking at $385 less than an hour later. The current price is 316, down 7.86%
Solana: Solana was trading around $27.69 before the announcement and peaked at $31.29 shortly after the announcement. It currently stands at $23.97, down 25.78 per cent in the past 24 hours.
FTT: FTT was trading at $14.98 before news of the acquisition. Soon after, the stock soared to $19.33. FTT is currently trading at $4.50, according to CoinMarketCap.
Dogecoin: The price of Dogecoin fell from 0.099 to 0.1088 after the announcement. It is currently trading at 0.088, down 24.55% in the last 24 hours.