WSJ Reports Make Cryptocurrencies Come Back 📈

The Wall Street Journal reports that crypto-billionaire Justin Sun, creator of the TRON blockchain, is still considering a deal with FTX and indicated that “all options are still on the table.”

  • We recall that reports of Sun’s interest in the bankrupt Sam Bankman-Fried exchange had already surfaced and caused a large premium on TRON’s FTX listing;
  • On November 11, 2022, Justin Sun, head of the Tron blockchain, announced a loan that would allow some FTX customers to safely withdraw capital from the exchange through Tron-linked assets. At the time, FTX customers were buying TRX in bulk to make it easier to process withdrawals from the exchange.

Bitcoin bounced back above $16,000. Altcoins saw the biggest gains: Polygon, Chainlink, Litceoin and Curvedao, which rose almost 20%.

polygon, H1 interval. Polygon cryptocurrency climbed above the 50-session moving average (black line). The nearest resistance levels are likely to be in the $0.85-$0.90 range, where the 200-session moving average (red line) and price levels from before the last decline on November 20 and 21. Source: xStation5

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