FTT Token (FTX) Dismisses Market Sentiment Downturn with 35% Surge

The FTX customers may soon be fully reimbursed, and in the midst of this, FTX Token (FTT) has skyrocketed in value over the last 24 hours.

FTT has skyrocketed by an impressive 35.6% in just 24 hours, currently trading at $2.16. With a market cap of $710 million, this digital asset has climbed its way to the 108th spot among the top cryptocurrencies. The FTX Token has hit a six-week high of $2.27 at 05:00 UTC, marking its strongest performance since mid-March.

FTT Token (FTX) chart

The latest insights on the FTT Relative Strength Index (RSI) as reported by Santiment are shocking. In just 24 hours, the RSI has soared from 57 to 62, signaling that the FTX Token is heating up and bracing for a wild ride of price fluctuations. However, if the RSI dips below the 50 mark, we may see FTT embark on a steady climb toward success.

FTX exchange has amassed a staggering amount of funds, exceeding the necessary amount to reimburse the two million customers who suffered losses in November 2022.

According to the latest data from Santiment, FTT boasts a whopping 95 active addresses in the last 24 hours. While this marks a significant jump from the mere 61 active addresses in the previous two days, experts warn of potential whale activity and market manipulation.

Exclusive: BTC-e Founder Pleads Guilty to Laundering Stolen Bitcoin

Emotional Shifts Trigger MA’s Support Swivel in EUR/USD

Ethereum, Altcoins are Unregistered Crypto Securities: Michael Saylor

According to Santiment, the daily exchange inflow for FTT has skyrocketed by a whopping 75% in just 24 hours, hitting a staggering 302,950 tokens. With such a surge, it’s no surprise that some savvy investors and traders are eyeing the opportunity for quick gains. In fact, Santiment’s data reveals that a whopping 230 million out of the total 328.8 million FTT in circulation are currently sitting pretty in profit.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Leave a Comment