The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Crypto Market Recap: FTX Begins Debt Repayment, SOL Plunges by Over 40 Percent

by February 19, 2025
February 19, 2025
Crypto Market Recap: FTX Begins Debt Repayment, SOL Plunges by Over 40 Percent

Here’s a quick recap of the crypto landscape for Wednesday (February 19) as of 9:00 AM UTC.

Bitcoin and Ethereum price update

Bitcoin is trading at US$96,256, recording a 0.018% increase over 24 hours.

The day’s trading range saw a high of US$96,666 and a low of US$93,408.

Meanwhile, Ether is priced at US$2,712.17, marking a rise of 0.436% over 24 hours.

The cryptocurrency reached an intraday high of US$2,736.43 and a low of US$2,608.86.

Altcoin price update

Solana (SOL) is currently valued at US$172.20, 1.175% higher over 24 hours, after hitting a daily high of US$174.04 and a low of US$161.60.

XRP went down to US$2.59, reflecting a 0.766% decrease over 24 hours. The cryptocurrency reached an intraday high of US$2.63 and a low of US$2.47.

Sui (SUI) is trading at US$3.15, near its highest valuation of the day and a 0.639% increase. It achieved a daily high of US$3.20 and a low of US$2.93.

Finally, Cardano (ADA) is down, priced at US$0.7644, reflecting a 3.275% decrease over 24 hours. Its highest price today was US$0.7953 and its lowest was US$0.7365.

Crypto news to know

FTX Digital Markets will begin repaying US$1.2 billion to creditors, marking a significant step in its ongoing bankruptcy proceedings. The first round of payments prioritizes creditors with claims under US$50,000.

FTX creditor Sunil, a member of the exchange’s largest creditor group, confirmed that over 1,500 claimants will receive payments in this initial round. However, larger creditors are still awaiting further updates.

The FTX collapse in 2022 contributed to one of the harshest downturns in crypto history. While the repayments signal progress, many large claims remain unresolved. Future repayments and creditor actions will determine the long-term effects on market liquidity and investor confidence.

Meanwhile, Solana’s SOL token has dropped more than 40 percent in the past month, trading near US$160 as of February 18.

The decline follows a peak of nearly US$290 on January 19, according to Coinbase data.

Aran Hawker, CEO of CoinPanel, described the situation to Forbes via email as a “perfect storm” caused by multiple bearish factors, including waning interest in meme coins, a sharp drop in on-chain activity, and declining investor confidence.

Another major factor pressuring SOL prices is the upcoming March 1 token unlock, which will release 11.16 million tokens into circulation. Institutional investors have reportedly shifted holdings from SOL to ETH in anticipation of this event.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Trump FBI director nominee Kash Patel picks up support from key GOP senator
next post
Silver47 Announces $3 Million Private Placement

You may also like

Mount Hope Mining

Norfolk Metals

Galan Investor Presentation Singapore March 2024

Lake Hope Scoping Study

Cannabis Round-Up: Texas Attorney General Sues Local Cities...

Pilot Plant Downstream Process Produces Lithium Carbonate with...

BHP: Global Copper Demand to Surge 70 Percent...

Alderan Intersects 30m Copper Mineralised Zone at New...

Puma Exploration Welcomes Jean-David Moore to its Advisory...

Battery-Grade Lithium Carbonate Produced from McDermitt

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Massachusetts suspect charged with attempting to assassinate a Cabinet nominee

    • Pakistan says it has struck military targets inside India in series of new attacks

    • Rodrigo Duterte is being held at The Hague. Next week he might be elected mayor of his hometown

    • Buffett Hands Over Reins, What’s Next for Berkshire’s Capital Strategy?

    • Triumph Gold Updates Shareholders on Operations, Engages Market Maker, and Grants Options

    Categories

    • Business (1,633)
    • Investing (4,797)
    • Politics (7,546)
    • World (6,132)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top