Exchange Token FTT’s 200% Spike in 2 Weeks Defies Bankruptcy and Bankman-Fried’s Fraud Conviction Woes

FTT, the speech token launched by the present defunct cryptocurrency trading level FTX, has experienced a important 200% surge successful worth implicit the past 2 weeks, surpassing the $3 per portion mark. Ranking arsenic the 5th largest speech coin successful presumption of marketplace capitalization, FTT stands beneath salient counterparts similar BNB, LEO, OKB, and CRO.

FTT Records Colossal Gains Over the Past Fortnight

Originally developed by the now-convicted Sam Bankman-Fried and the insolvent FTX, the crypto plus FTT has defied the odds. Despite the backdrop of Bankman-Fried’s fraud condemnation and FTX’s ongoing Chapter 11 bankruptcy proceedings, FTT has shown a important uptick successful marketplace performance, making notable strides wrong the past 2 weeks.

Despite a 6.3% diminution successful the past week, FTT has shown a notable 200.2% summation against the U.S. dollar implicit the past fourteen days. Currently, FTT boasts a 24-hour planetary commercialized measurement of $230.85 million, placing it successful the 21st presumption for regular spot trading volume. As of Sunday, November 19, 2023, FTT’s starring trading pairs see USDT, USD, ETH, USDD, and USDC.

A important information of FTT’s proviso is successful the hands of the FTX property and centralized exchanges. While determination are 29,221 FTT holders, the apical 100 power a staggering 98.83% of the full supply. This mightiness permission galore puzzled arsenic to wherefore a token, developed by a convicted fraudster and a bankrupt exchange, is performing remarkably well. The reply lies successful the wide content that FTX could beryllium revived nether caller management.

Many speculate that a imaginable FTX 2.0 would reintroduce FTT, assigning it caller inferior oregon broader possibilities. Investors are gambling connected acquiring FTT astatine rock-bottom prices, betting connected a triumph if FTX 2.0 incorporates the speech token.

However, this is speculative, arsenic the aboriginal of FTT remains precise uncertain, and there’s a accidental that a caller FTX squad whitethorn take not to utilize the token for assorted reasons. Despite these uncertainties and risks, speculative theories proceed to substance FTT’s momentum, propelling its worth based connected imaginable semipermanent outcomes.

What bash you deliberation astir FTT’s ascent implicit the past 2 weeks? Share your thoughts and opinions astir this taxable successful the comments conception below.