{"id":562092,"date":"2023-11-23T16:00:59","date_gmt":"2023-11-23T16:00:59","guid":{"rendered":"https:\/\/ktsl888.com\/?p=562092"},"modified":"2024-06-11T13:45:16","modified_gmt":"2024-06-11T13:45:16","slug":"ftx-ftt-token-55-rally","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ftx-ftt-token-55-rally\/","title":{"rendered":"FTX\u2019s FTT Token Leads Market Gains With 55% Rally, What\u2019s Driving It?"},"content":{"rendered":"

The utility token of the <\/span>defunct crypto exchange FTX<\/span><\/a>, FTT is one of the top gainers in the last few days, rising 55% in just 48 hours alone. This has led to speculations as to what may be driving the token\u2019s rally. One of them relates to a recent event in the crypto industry.\u00a0<\/span><\/p>\n

FTT Token’s Recent Rally Propelled By Binance News<\/h2>\n

In a <\/span>post<\/span><\/a> on its X (formerly Twitter) platform, the market intelligence platform Santiment noted that the second rally for FTT came after the Binance news. The <\/span>world\u2019s largest crypto exchange<\/span><\/a> and its former CEO <\/span>Changpeng \u201cCZ\u201d Zhao<\/span><\/a> had both pleaded to criminal charges and agreed to a settlement of over $4 billion in fines.<\/span><\/p>\n

Related Reading: Grayscale Files Updated Spot ETF As Bitcoin Barrels Past $37,000<\/a><\/div>\n

As to the correlation between both events, Binance and FTX have always been closely knitted in several regards. For one, CZ, in particular, has <\/span>sometimes been credited<\/span><\/a> for being responsible for FTX\u2019s collapse. Prior to the bank run on FTX, the former executive had made a tweet about his company liquidating their FTT holdings.\u00a0<\/span><\/p>\n

As such, it is believed that Binance, going through this difficult phase, comes off as bullish for the FTT token because of the animosity that the FTX and Binance ecosystem share. Interestingly, while FTT has continued to rally, Binance\u2019s BNB has suffered an inverse fate. BNB is down by over 6% in the last seven days, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

Sam Bankman-Fried\u2019s Conviction Also Contributed<\/h2>\n

It is worth mentioning that the FTT rally didn\u2019t just kickstart on the back of the Binance news. FTT\u2019s market value is reported to be about 255% up against Bitcoin in the past 3 weeks. This resurgence began just after the 10 largest wallets began accumulating, with $12.8 million worth of FTT bought by these whales since November 3.<\/span><\/p>\n

Interestingly, November 3 happens to be a day after FTX\u2019s former CEO <\/span>Sam Bankman-Fried<\/span><\/a> (SBF), <\/span>was convicted<\/span><\/a>. The FTX founder was convicted of all <\/span>seven charges leveled against him<\/span><\/a>. Going by this, it would seem that his conviction was conceived as bullish for these whales who decided to double down on their FTT holdings.\u00a0<\/span><\/p>\n

Related Reading: Cardano Forecast: Crypto Analyst Identifies The Event That Could Send ADA Price To $11<\/a><\/div>\n

Another factor that might also be contributing to the token\u2019s resurgence is the talks about <\/span>FTX making a comeback<\/span><\/a>. The defunct crypto exchange is <\/span>reported<\/span><\/a> to have suitors who are interested in rebooting it. The Chair of the Securities and Exchange Commission (SEC), Gary Gensler, had also noted that it was a possibility as far as the rules and guidelines are abided by.<\/span><\/p>\n

At the time of writing, FTT is currently trading at around $4.50, up over 21% in the last 24 hours and up by over 336% in the past month, according to <\/span>data<\/span><\/a> from CoinMarketCap.<\/span><\/p>\n

\"FTX<\/p>\n

FTT tops list of gainers | Source: FTTUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from IQ.Wiki, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The utility token of the defunct crypto exchange FTX, FTT is one of the top gainers in the last few days, rising 55% in just 48 hours alone. This has led to speculations as to what may be driving the token\u2019s rally. One of them relates to a recent event in the crypto industry.\u00a0 FTT Token’s Recent Rally Propelled By Binance News In a post on its X (formerly Twitter) platform, the market intelligence platform Santiment noted that the second rally for FTT came after the Binance news. The world\u2019s largest crypto exchange and its former CEO Changpeng \u201cCZ\u201d Zhao had both pleaded to criminal charges and agreed to a settlement of over $4 billion in fines. Related Reading: Grayscale Files Updated Spot ETF As Bitcoin Barrels Past $37,000 As to the correlation between both events, Binance and FTX have always been closely knitted in several regards. For one, CZ, in particular, has sometimes been credited for being responsible for FTX\u2019s collapse. Prior to the bank run on FTX, the former executive had made a tweet about his company liquidating their FTT holdings.\u00a0 As such, it is believed that Binance, going through this difficult phase, comes off as bullish for the FTT token because of the animosity that the FTX and Binance ecosystem share. Interestingly, while FTT has continued to rally, Binance\u2019s BNB has suffered an inverse fate. BNB is down by over 6% in the last seven days, according to data from CoinMarketCap.\u00a0 Sam Bankman-Fried\u2019s Conviction Also Contributed It is worth mentioning that the FTT rally didn\u2019t just kickstart on the back of the Binance news. FTT\u2019s market value is reported to be about 255% up against Bitcoin in the past 3 weeks. This resurgence began just after the 10 largest wallets began accumulating, with $12.8 million worth of FTT bought by these whales since November 3. Interestingly, November 3 happens to be a day after FTX\u2019s former CEO Sam Bankman-Fried (SBF), was convicted. The FTX founder was convicted of all seven charges leveled against him. Going by this, it would seem that his conviction was conceived as bullish for these whales who decided to double down on their FTT holdings.\u00a0 Related Reading: Cardano Forecast: Crypto Analyst Identifies The Event That Could Send ADA Price To $11 Another factor that might also be contributing to the token\u2019s resurgence is the talks about FTX making a comeback. The defunct crypto exchange is reported to have suitors who are interested in rebooting it. The Chair of the Securities and Exchange Commission (SEC), Gary Gensler, had also noted that it was a possibility as far as the rules and guidelines are abided by. At the time of writing, FTT is currently trading at around $4.50, up over 21% in the last 24 hours and up by over 336% in the past month, according to data from CoinMarketCap. FTT tops list of gainers | Source: FTTUSDT on Tradingview.com Featured image from IQ.Wiki, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":562093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[90344,86846,90345,85702,71704,87578,89272],"class_list":["post-562092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftt-news","tag-ftt-price","tag-ftt-price-performance","tag-ftt-token","tag-ftx","tag-ftx-crypto-exchange","tag-ftx-news"],"acf":[],"yoast_head":"\nFTX\u2019s FTT Token Leads Market Gains With 55% Rally, What\u2019s Driving It?<\/title>\n<meta name=\"description\" content=\"The utility token of the defunct crypto exchange FTX, FTT is one of the top gainers in the last few days, rising 55% in just 48 hours alone.\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"FTX\u2019s FTT Token Leads Market Gains With 55% Rally, What\u2019s Driving It?","url":"http:\/\/ktsl888.com\/news\/ftx-ftt-token-55-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ftx-ftt-token-55-rally\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/FTX-FTT-Token.jpeg?resize=200%2C194","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/FTX-FTT-Token.jpeg?fit=259%2C194"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ftt news","ftt price","ftt price performance","ftt token","ftx","ftx crypto exchange","ftx news"],"dateCreated":"2023-11-23T16:00:59Z","datePublished":"2023-11-23T16:00:59Z","dateModified":"2024-06-11T13:45:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"FTX\\u2019s FTT Token Leads Market Gains With 55% Rally, What\\u2019s Driving It?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ftx-ftt-token-55-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ftx-ftt-token-55-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/FTX-FTT-Token.jpeg?resize=200%2C194\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/FTX-FTT-Token.jpeg?fit=259%2C194\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ftt news\",\"ftt price\",\"ftt price performance\",\"ftt token\",\"ftx\",\"ftx crypto exchange\",\"ftx news\"],\"dateCreated\":\"2023-11-23T16:00:59Z\",\"datePublished\":\"2023-11-23T16:00:59Z\",\"dateModified\":\"2024-06-11T13:45:16Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/FTX-FTT-Token.jpeg?fit=259%2C194","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/562092"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=562092"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/562092\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/562093"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=562092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=562092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=562092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}