On Wednesday the US court will determine whether FTX's planned assets sales will be affected.
The week started with a shaky start to the week ahead of US inflation data and potential asset sales by the failed FTX crypto exchange.
On Monday, most digital assets were ranked among the top 20 by market capitalizations, with Bitcoin falling 2% to $25,000 and Ether tumbling 3.5% to $1,560.
Over the past seven days, Solana, the largest cryptocurrency on FTX's balance sheet, shed 9%. Other notable FTX holdings, Ripple, Aptos and BitDAO are down 8.7%, 8.7% and 9.5% respectively. A U.S. court is expected to arrive Sept. 13 to deliver a verdict on FTX's proposed plans to begin selling assets.
Most of the top ten cryptocurrencies were pulled back by between 4% and 5% over the same period. The United States Bureau of Labor Statistics will release inflation figures for August on Wednesday, and investors will be looking at the data to try and predict the Fed's next rate decision on Sept. 20.
On Tuesday, FTX submitted a court filing removing the holdings of FTX, FTX.US and its sister trading firm, Alameda Holdings, as of August 31.
SOL is the largest position at $1.16B, followed by $597M worth of BTC and WBTC, $229M in ETH and WETH, $120 million inUSDT, and $119 million in XRP. FTX's ten largest assets, including BitDAO and Stargate, are part of FTX's ten biggest positions - making up 72% of FTX's $3.4B digital asset portfolio.
SOL investors are pleasantly surprised that the massive portion of tokens is subject to a vesting schedule, which means that the tokens will remain in supply for the foreseeable future. With its monthly release, 34.5M SOL will unlock monthly until 2028, with an additional 12M SOL unlocking each month until Sept. 2027, according to Xangle. A final tranche of 7.5M SOL can be sold in 2025.
CoinGecko said the combined value of DeFi assets fell by 6.8% over the weekend.
The majority of the industry's top tokens by market cap lost value over the past seven days, including 12 assets with a loss of more than 7.5%. With rallies of more than 40%, five tokens bucked the trend with double-digit gains, including Tellor, Flamingo and Perpetual Protocol.
TVL's total value has also declined, with TVL falling $2B to $36.5B in the past two weeks. DeFi TVL is down 31% since mid-April.
L2's L2 ecosystem continues to expand, with combined layer 2 throughput peaking at 55.4 transactions per second Sept. 10, according to L2beat.
Although the milestone came just days after Starknet posted a peak of 10 TPS amid renewed airdrop speculation, L2 activity is up across the board. The throughput of the top eight layers 2s is each up compared to a week ago, with Base, Immutable X, Mantle, and dYdX all up more than 40%.