Tron founder Justin Sun recently tweeted that trading for TRX, SUN, JST, BTT, and HT tokens has resumed on FTX, with withdrawal functionality currently being processed. While this marks progress in restoring FTX operations, significant price discrepancies between FTX and other exchanges persist.
Current Market Discrepancies Highlight Arbitrage Risks
As of publication:
- HT on FTX: ~$50
- HT on Huobi: ~$6.30
This 80%+ price gap suggests severe liquidity constraints on FTX. Users attempting arbitrage (buying HT on FTX and selling elsewhere) face steep losses if withdrawals remain delayed.
BNB and Other Tokens Show Volatility
Following Sun’s announcement, BNB’s price on FTX surged, reflecting user optimism about potential Binance-led recovery efforts similar to Sun’s intervention.
OTC Markets Reflect Crisis Severity
CoinDesk reports FTX users selling locked USD balances via over-the-counter (OTC) trades at steep discounts:
- Current OTC rate: $0.10 per $1 USD balance
This signals extreme distrust in FTX’s near-term solvency.
Key Takeaways
- Trading Resumption: TRX, SUN, HT, JST, and BTT trading is live, but withdrawals are pending.
- Price Dislocation: Extreme arbitrage opportunities exist but carry high risk.
- OTC Liquidation: Users are exiting positions at massive losses via OTC markets.
👉 Track real-time updates on FTX recovery efforts
FAQ
Q: Can I withdraw my HT tokens from FTX now?
A: Not yet—Sun confirmed withdrawals are "under processing," but no timeline exists.
Q: Why is HT priced at $50 on FTX versus $6 elsewhere?
A: Limited liquidity and frozen withdrawals artificially inflate prices on FTX.
Q: Is buying discounted tokens on FTX a good strategy?
A: High risk. Withdrawal delays could render tokens unusable if FTX collapses further.
Q: How are users cashing out FTX balances?
A: OTC markets, albeit at ~90% losses (e.g., $0.10 per $1).
👉 Learn how to protect assets during exchange crises
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Always conduct independent research.