7 days ago • 1:34 min
This month’s FTX fallout wasn’t a good look for crypto, I’ll admit. Sam Bankman-Fried siphoned billions in customers’ deposits from the exchange and used the cash as trading collateral for his hedge fund Alameda, which then lost the money. And when the centralized exchange (CEX) filed for bankruptcy, the liquidator said this: “never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here." That’s a bold claim for someone who also liquidated the infamous Enron.
Now from where I’m standing, that all sounds like a pretty good advertisement for decentralized exchanges (DEXs) – and I’m not the only one
This digital asset just played out a classic Wyckoff “spring”, a technical move that could signal a turning point in its price.
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Here are some of the ones showing relative strength in this down market.