FTT Pumped by Rumors of Revival, But Path to Recovery Remains Uncertain
- FTT’s 5.81% price surge was driven by former FTX customers’ plea for fair cryptocurrency deposit valuation.
- Uncertainty looms for FTT’s future as FTX’s revival plans remain unclear amid legal complexities.
- Technical analysis suggests a potential bullish trend for FTT/USD, making it an attractive option for traders.
Amidst a backdrop of legal and financial turmoil, FTT, the native token of the defunct FTX cryptocurrency exchange, has witnessed a remarkable resurgence. Consequently, the token’s price soared by over 5.81% in the last 24 hours, per CoinMarketCap data. This rally pushed its price to $3.14, significantly boosting its market capitalization to $1.03 billion. Furthermore, trading volumes have surged, recording a 37% increase to $52 million.
Customer Clients’ Plea Fuels FTT’s Rise
As reported by Coinedition, the recent outcry from former FTX customers catalyzes this unexpected surge. These clients have petitioned a U.S. bankruptcy judge to reject FTX’s proposal to value their cryptocurrency deposits based on November 2022 prices. This move by FTX, they argue, deprives them of the benefits stemming fr…
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