It’s been a year since the demise of the FTX exchange — an event that’s now increasingly looking like it was the Bitcoin (BTC) bottom, which is up roughly 120% from a year ago.
In November 2022, the FTX collapse wiped nearly $300 billion off the market cap, impacting several cryptocurrencies. The ones that suffered the most were tokens with deep financial ties to FTX, including Solana’s (SOL), Serum (SRM) and the exchange’s native FTX Token (FTT).
But a year later, things have improved for BTC and most cryptocurrencies impacted by the FTX collapse.
Here are the top gainers (from the top 30 by market capitalization) that would have yielded the biggest profit if bought in November 2022.
Solana up 660% from FTX crash bottom
Solana’s price plummeted by over 50% to $8 after the FTX collapse. The sell-off occurred primarily because FTX and its sister firm, Alameda Research, held about 55 million SOL, triggering fears of a dump to plug liquidity holes.
Nonetheless, buying SOL a year ago would have produced a profit of over 660% today.
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Author: Yashu Gola
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