Cryptocurrency

The cryptocurrency industry is currently showing a challenging phase, marked by major events such as <a href="https://news.todayq.com/ftt-soars-over-85-amid-potential-ftx-revival/">FTX’s potential revival</a> and the recent <a href="https://news.todayq.com/binance-czs-settlement-exit-good-for-crypto/">Binance fiasco</a>. These occurrences have not only captured widespread attention but have also had a notable impact on the overall market. FTX’s native token, FTT, experiences massive price rally 
In the aftermath of the FTX revival event, FTX’s native token, FTT, experienced a significant price rally, surging over 330% in the last 30 days. This massive surge in FTT tokens was caused by top FTT holders. According to a recent report by Santiment, an on-chain analytics firm, the top 10 FTT holders accumulated an astounding 2.91 million FTT tokens, valued at around $12.8 million, since November 3, 2023. 
This remarkable price rally has propelled the FTX market capitalization to a record $1.55 billion as of the current writing. Over the past 30 days, the market capitalization has also experienced a staggering surge from $350.36 million to $1.5 billion. Investors have consistently gained in the wake of the FTX surge. 
Furthermore, FTX and its affiliate, Alameda Research, recently made a significant move in the cryptocurrency realm by liquidating assets and transferring a substantial amount of money, totaling $474 million, across different exchanges. This move has heightened market activity. FTT’s impressive performance amid broader Cryptocurrency decline 
As of the latest update, FTX’s native token, FTT, is trading near $4.71. In the last 24 hours alone, it has witnessed a substantial positive gain of over 10%, attracting attention from the crypto community. This surge is noteworthy, especially considering the broader decline in cryptocurrency prices. 
The significant surge in FTT indicates that whales, institutions, and retail investors are expressing interest, despite various negative crypto news events, including the criminal case against Binance’s ex-CEO CZ and the recent <a href="https://news.todayq.com/krakens-jesse-powell-warns-us-crypto-exchanges-calls-sec-top-decel/">SEC lawsuit against cryptocurrency exchange Kraken</a> for securities law violations in November 20, 2023. 
© Todayq News

FTT token surges 330%, adds $1.2 bln to market cap in 30 days

Todayq News

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