Solana Trade at Premium on FTX Ethereum's native token, ether | https://t.me/Solana_Updates

Solana Trade at Premium on FTX

Ethereum's native token, ether (ETH) and Solana's SOL are drawing higher prices on troubled crypto exchange FTX relative to Binance and other platforms. The unusual market dynamic has observers scrambling for an explanation.

The premium stems from FTX-based traders switching from cash and cash equivalents (stablecoins) to major cryptocurrencies in the wake of the exchange stopping clients from taking direct custody of their crypto and fiat funds and signaling potential bankruptcy, according to Markus Thielen, head of research and strategy at Matrixport. FTX-based perpetual futures contracts tied to BTC and ETH.

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