Matrixport: Crypto VCs face immense pressure to return funds to investors, which may be significant sellers of altcoins other than FTX

ChainCatcher news, Matrixport stated in a report that FTX plans to sell at least $3.4 billion in cryptocurrency, which will put pressure on altcoins for the remainder of the year. FTX indicated a desire to sell $200 million worth of crypto assets each week, meaning FTX will continue to sell assets until the end of 2023.

Additionally, FTX is not the only major seller in the market. The report mentions that VCs are also under significant pressure to return funds to investors. Research director Markus Thielen stated, "These venture capital funds may still be significant sellers of altcoins."