Comment on Major Crypto Tokens React After Reports of Binance’s FTX Acquisition

Comment on Major Crypto Tokens React After Reports of Binance's FTX Acquisition

Most crypto prices jumped on Tuesday on the news that Binance, the world’s largest crypto exchange, signed a letter of intent to acquire rival FTX, but prices are still bountiful for years to come.

Sam Bankman-Fried, CEO and Founder of FTX Sam Bankman-Fried tweeted on Tuesday that the exchange has entered into a strategic transaction with Binance, pending due diligence.

Here’s how crypto prices are moving after the news broke, according to data from CoinDesk:

BitcoinBTC USD,
-6.21%
: The price was around 19 $350 before the announcement. Bitcoin price is currently at 20 $590.30, representing a change of -0.66% in the last 24 hours.

Ethereum ETHE,
-6.67%
: Ethereum price was around $1,438 before the announcement and is currently at $1,562. This is a change of -1.54% over the last 24 hours.

Binance Coin: Binance Coin price is $380.77, a change of 13.49% in the last 24 hours. The pre-announcement price was $323.

Binance USD: The price of Binance USD, which is a stablecoin, is $1.00, a change of -0.18% in the last 24 hours. The price has remained relatively stable since the announcement at 0.99.

Dogecoin DOGEUSD,
-11.44%
: The price of Dogecoin has risen from 0.099 to 0.1088 since the announcement. Dogecoin price is a change of -5.99% in the last 24 hours.

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