FTX Repayments, JUP Buybacks, and More
Several activities involving multiple ecosystems are expected to make headlines for cryptocurrencies this week. From discontinued exchange FTX to Jupiter and super liquidity, cryptocurrency market participants should prepare for a week of turmoil.
Traders and investors should consider adjusting their trading strategies among cryptocurrency market porters this week.
FTX repayment
Deactivated Switch FTX Payments will begin to begin on Tuesday, February 18. Processing via BitGo. Creditors outside the Bahamas must wait until March 4 to reimburse.
It follows an email issued between FTX creditors in early February, pointing out details about reimbursement of asset losses. These expenses will begin at 10 a.m. on February 18.
Creditors will lose 9% of their annual interest since November 11, 2022, as cryptocurrency value soars since the FTX crash.
“Creditors in the Bahamas process have email confirmation that repayments will begin on February 18, 2025, with a 9% interest annually starting on November 11, 2022,” FTX Creditor Activist Sunil Kavuri Indicatedquote email.
In a recent post, Krafty warned us about ongoing phishing emails targeting FTX creditors. Fraudulent emails were reportedly from FTX and LEDGER. Activists put threats on data leaks that may be leaked by KROLL or FTX. Ask creditors not to interact with the link.
“Scam, use ftx as ftx, ledger, please be alert,” Krafty warn.
Meanwhile, beincrypto data show As of this writing, FTX’s power token FTT is trading at $2.22. This is a modest climb of 2.36% since Monday’s meeting opened.
Jupiter’s Jupiter buyback
Another title in the top crypto news this week is Jupiter Dex (Dispersed exchange) JUP token repo. The move is part of DEX’s transparency plan and discusses platform improvements and potential acquisitions. Solana Ecosystem.
In this announcement, Jupiter promised to allocate 50% of the agreement fees to buy back and lock JUP tokens for three years.
“…We want more JUP. So the repo starts Monday. 50% of all agreement fees will go to buy JUP and lock it in for 3 years,” Jupiter said. shared In a recent article.
The network said the developments would be consistent with discussions at the Catstanbul meeting. During the event, Jupiter outlined platform enhancement and acquisition plans in the Solana ecosystem.
In hindsight, Jupiter took a similar move in January, allocating 50% of the protocol fees to buy back and burn jup tokens. This move resulted in a 60% increase in token value. beincrypto data show Jupiter’s JUP token has risen almost 10% since Monday’s meeting opened.
Spot transactions with super traffic
Hyplliquid’s plan adds support to this week’s top crypto news list Ethereum (ETH) and Solana (Sol) Spot trading. Recently, Shoku, a super mobile builder, hint Possible to add eth and sol for Spot trading.
Super fluidity is high performance Level 1 (L1) Blockchain Built from local on-site and permanent deals support.
A popular user on X, “Trading with Bybit, Binance, Okx or Coinbase means paying 10 to 25 times the fee,” a popular user on X Observed.
Hyproliquid recently launched a spot Bitcoin (BTC) transaction with the unit, a new decentralized asset Tokenization layer. With ETH and sol On-site transactions, other Predictions Increase liquidity to hyperfluidity, potentially capturing 15-30% of the volume.
“If they reach 30% of BTC spot/PERP penetration, they may be 50% of the dominant position WBTC &cbbtc transactions,” another user additional.
Despite this news, Hyplliquid’s hype token has dropped nearly 3% since the meeting opened on Monday. beincrypto data show As of this writing, Hype is trading at $25.65.
Melania Token Unlock
Another interesting watch this week will be Melania coins Token unlock. according to data On Cryptoranks, 30 million Melania tokens will be unlocked starting Tuesday. The token, which accounts for 3% of its revolving supply, is worth $39 million.
The tokens will be allocated to the team, possibly a member of “MKT World LLC” – Melania Trump’s company founded and promoted the token. Recently, Beincrypto reported Melania insiders Behind the controversial Libra meme coin. Based on this, many Melania token unlocking may also involve these anonymous insiders.
“Another project with insider movement,” Popular users on X Fun.
As of this writing, the Melania coin is trading at $1.29, down 3% since Monday’s trade fair began. Beincrypto cited KeyRock research in a recent report, noting 90% of the token release price is lowered.
Therefore, Melania coin holders should be prepared volatility Unlock around a large number of tokens, as these events often serve as a bearish catalyst.
Tons of Telegram Blockchain Exclusiveness
Starting from Friday, February 21, tons will become exclusive blockchain Telegram Mini App Ecosystem. This is an official statement On January 21, the standardization will benefit telegraph users.
Specifically, the announcement cites user-consistent and predictable experiences while providing you with better protection scam.
“All mini apps on the Telegram will now use TON exclusively as their blockchain infrastructure. All mini apps that are not currently using Tons should be moved by February 21, 2025. Let’s keep going,” Tons Express On X.
In addition to this, Ton Connect will become the exclusive wallet integration protocol for all Telegram Mini applications in addition to the bridging scheme. This development represents the reignitment of the Telegram partnership with TON and TON after years of separation.
Originally developed by Telegram, the project faces regulatory challenges, is Hand over to independent developers 2020.
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