The cryptocurrency markets are expected to witness one of the largest injections in history, because FTX has been set to distribute $ 5 billion in Stablecoins to its customers. The FTX’s long -awaited reimbursement program seems to have kept traders sharp. A Stablecoin payment of $ 5 billion could be good news for those who waited to restore the funds, but the market can be more focused on where the money could go
While the stablecoin flows in and out of the exchange, the exchange reserves are deposited, the upper tokens such as Bitcoin, Ethereum, XRP and Cardano seem to have confronted with a potential sales pressure. As soon as the recipients have received their portion, it is expected that the Stablecoin reserves will increase on CEX, which could flood the market, which could increase the trading activity within space.
Now the question arises, will Bitcoin or Ethereum benefit from this step?
After marking new highlights in the past week, the Bitcoin price started the weekly trade on a Bearish notice. The token is about to lose under the crucial support zone, while Ethereum has strength because it maintains strong above $ 2600 and retains successive higher highlights and lows. In addition, XRP and ADA continue to act under the falling trend line, while memecoins dive with a double digit margin.
The payout is one of the largest in the crypto history, because the creditors will receive money after 18 months after 18 months after the collapse of the stock exchange. That is why this is expected to first hit the stock markets, which could increase the Stablecoin Exchange Reserve. Although some people can leave the space, it is believed that some are changed for the other cryptos, where Bitcoin is one of the popular choices. That is why Bitcoin is expected to get a liquidity that can push the price a little higher.
With this, the other cryptos can also experience a similar price increase that could help the markets to remain under bullish influence.