CoinEx Daily: Crypto Market Sees Another Sharp Decline, Next Round of FTX Repayments to Begin

Overview

Yesterday, the crypto market saw another sharp decline, with overall market activity remaining low and on-chain activity decreasing further.

Daily Macro

Bitcoin Performance: Bitcoin briefly fell below $94,000 last night before slightly recovering today.

Bitcoin ETF: Net outflow of $129M yesterday.

Ethereum ETF: Net inflow of $4.6M yesterday.

Macroeconomic Data: MicroStrategy did not sell any Class A common stock or purchase Bitcoin last week.

Daily Focus

SOL

Reason for Attention: Due to the recent SOL token unlock and a series of meme coin scandals, investor sentiment toward the Solana network has weakened, leading to a significant decline in SOL’s price.

Token Performance: SOL: +1.98% (24h)

How to Participate: Investors should closely monitor developments on the Solana blockchain, pay attention to token unlock schedules, and adjust their investment strategies accordingly.

Next Focus

FTX

Reason for Attention: On February 19, FTX announced that it has begun its first round of repayments to approved claim holders under Chapter 11 restructuring’s Convenience Classes. The next round of distributions is expected to begin on May 30, 2025.

How to Participate: Affected investors should keep an eye on repayment updates and assess potential market impacts to make informed decisions.