The Resurgence of Cryptos: FTX Aftermath and Market Gains

The FTX Fallout: A Year in Retrospect

In November 2022, the collapse of the FTX exchange sent shockwaves through the cryptocurrency world, wiping out nearly $300 billion from the market cap. It was like a bad hangover after a wild party—lots of regret and an empty wallet. Bitcoin (BTC), however, seems to have kicked its recovery into high gear, rising a staggering 120% since that fateful day.

The Hard-Hit Cryptos

Some tokens really felt the burn during the FTX disaster. Solana (SOL), Serum (SRM), and the native FTX Token (FTT) were hit particularly hard, along with others that had deep financial ties to the sinking ship. Imagine being the birthday balloon tied to a roller coaster; it’s a wild ride, but there’s no guarantee you won’t get popped.

Solana: A Standout Comeback

Solana’s price tanked more than 50%, plummeting to around $8 following the FTX collapse. Talk about dramatic! However, if you had the foresight to buy SOL at that price (and a generous sense of humor), you’d be sitting on a glorious profit of over 660% today. Those who bought on Black Friday were surely smiling as they watched their investments soar!

OKB: The Underdog Surprise

Let’s talk about OKB, the token associated with the OKX crypto exchange. While other coins were floundering, OKB decided to ride the wave of FTX’s demise, boasting a breathtaking gain of 275% from its FTX low of $17.20. As more traders turned away from the collapsed platform, they flocked to OKB—a true Hollywood comeback story!

Chainlink: Not Just a Link to the Past

Then we have Chainlink (LINK), which experienced a rollercoaster of its own, falling by 40% after FTX’s demise. But fear not! Brave investors who snagged LINK around $5.68 in November 2022 have since reaped 180% profits. Why? Simple—major updates and a surging demand among professional investors have bolstered its price. It’s the kind of growth that would make even your grandma blink in disbelief.

Final Thoughts

The crypto landscape is evolving, and while the FTX disaster dealt some severe blows, it has also birthed resilience and opportunity. Just like dining at a buffet—you might grab a plate full of mashed potatoes, but you can always circle back for dessert. Remember, always conduct your own research, and don’t invest more than what you can afford to lose—your future self will thank you!