This Week in Crypto: FTX Dump Fears, Property Token Goes Live, SHIB Prospects, and ETF Bull Case

This week, the crypto world refocused on the impacts of several major events that will soon unfold. Beleaguered crypto exchange FTX was allowed to liquidate an estimated $3.4 billion in cryptocurrencies, while a new report from K33 Research argued the market is underestimating the positive impact a Bitcoin spot exchange-traded fund (ETF) approval could have.

The green light for FTX liquidation stirred anxiety among stakeholders, while K33 researchers say the approval of spot ETFs could portend higher buying demand.

Across the globe, Tykhe Capital introduced PRINCE, Hong Kong’s first tokenized security representing a share of real estate ownership. At the same time, BeInCrypto speculated on the amount of Shiba Inu (SHIB) needed to become a millionaire if SHIB reaches previous bull-market highs.

Markets Concerned Over Billion-Plus Altcoin Dump Amid Thin Markets

IntoTheBlock suggested that the impending FTX liquidation might dampen recent increases in the prices of Ethereum and Solana. The looming uncertainty led to a 5.1% price dip in SOL over the weekend.

The exchange holds $685 million worth of Solana, a significant portion of its assets.

But not all market participants are sounding the alarm. The mass selloff failed to materialize, and FTX’s court documents revealed it would sell its crypto in weekly tranches of $100 million and, occasionally, $200 million.

The exchange’s proprietary token, FTT, makes up $529 million of the assets to be liquidated. Its limited liquidity and market depth raises questions about whether FTX’s liquidations will succeed.