FTX Token Stuns Market With 60% Gains — What's Going On With Crypto Of The Bankrupt Exchange Founded By Sam Bankman-Fried?
Portfolio Pulse from Aniket Verma
FTX Token (FTT) surged over 60% despite the broader crypto market's decline, driven by rumors of FTX repaying fraud victims, which were later debunked. The token's trading volume spiked 3734%, although it currently has no practical use following FTX's bankruptcy.
September 30, 2024 | 4:13 am
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FTX Token (FTT) saw a dramatic 60% price increase, driven by rumors of FTX repaying fraud victims, which were later debunked. Despite having no current utility, the token's trading volume surged 3734%.
FTT's price surge is attributed to speculative trading based on rumors of FTX repayments, despite these being debunked. The significant increase in trading volume suggests heightened investor interest, likely leading to short-term price volatility.
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