The hacker who stole $600 million in funds from bankrupt exchange FTX has converted the stash into ether. JamieCrawleyCD reports.
) applications in the ecosystem grew to $10 billion last November, with FTX founder Sam Bankman Fried among Solana’s chief proponents. That figure diminished with the broader crypto market contraction to sit at $1 billion on Nov. 2 this year, before shrinking dramatically to around $300 million with the FTX fallout. The more than 50% drop in the price of
, the network’s native token, has contributed to the fall. At the time of writing, SOL was priced at $14.64, compared with $32.64 at the start of this month.. FTX filed a motion to handle its overall group of entities rather than treating its various subsidiaries and arms as individual cases. The firm filed for bankruptcy on Friday, saying it had between $10 billion and $50 billion in assets and liabilities.
Market depth refers to the degree of an asset's resilience to large buy and sell orders. The greater the depth, the more liquid the market is and vice versa.
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