Token

FTX Token

Grayscale Bitcoin Trust

<p>The FTX token price jumped 12% in the last 24 hours to trade for $2.60 as of 4:30 a.m. EST time on trading volume that skyrocketed almost 300%.</p>
<p>It comes amid revitalized chatter around FTX after the exchange sold nearly $1 billion of the Grayscale Bitcoin Trust (GBTC) exchange-traded funds (ETF). A person familiar with the matter told CoinDesk that the lion’s share of outflows from Grayscale was FTX’s bankruptcy estate dumping 22 million shares worth the aforementioned amount.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">SCOOP: <a href="https://twitter.com/FTX_Official?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@FTX_Official</a> sold about $1 billion of <a href="https://twitter.com/Grayscale?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Grayscale</a>'s <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GBTC</a> since <a href="https://twitter.com/hashtag/bitcoinETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitcoinETF</a> approval – explaining a large chunk of its outflow.<a href="https://twitter.com/IanAllison123?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@IanAllison123</a> reports<a href="https://t.co/9t04mPvFhT" rel="noopener noreferrer nofollow">https://t.co/9t04mPvFhT</a></p>
 <p>— CoinDesk (@CoinDesk) <a href="https://twitter.com/CoinDesk/status/1749453254214209742?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 22, 2024</a></p>
</blockquote>
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<p>In principle, with FTX done selling its sizeable holdings, constituting a third of total Grayscale Bitcoin Trust outflows, analysts anticipate easing selling pressure.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Wait, if $1bn of the selling in GBTC was FTX LIQUIDATORS as reported, that is 1/3 of the total outflows. That changes the entire picture!!!! That selling is now done.</p>
 <p>We could actually get a bounce now and that could trigger a short squeeze.</p>
 <p>— Ran Neuner (@cryptomanran) <a href="https://twitter.com/cryptomanran/status/1749460991996277134?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 22, 2024</a></p>
</blockquote>
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<p>FTX was likely capitalizing on the difference between the price of GBTC shares and the net asset value of the underlying BTC in the trust. <a href="https://restructuring.ra.kroll.com/FTX/Home-DocketInfo" target="_blank" rel="noopener noreferrer nofollow">According to a filing&nbsp;</a>dated November 3, 2023, FTX held up to 22.3 million GBTC shares, worth around $597 million as of October 25, 2023.</p>
<p>After the landmark approval of spot BTC ETFs on January 11, the value of these shares nearly doubled to around $900 million, closing the trading session at $40.69 per share.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Hypothesis confirmed…<a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#FTX</a> Sold 22 million shares worth $900m of <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Grayscale</a>'s <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETF</a></p>
 <p>FTX had 22.3 million <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GBTC</a>, (valued @ $600m on Oct. 25 23)</p>
 <p>Good for <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#FTX</a> creditors, bad for short term <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> price &amp; <a href="https://twitter.com/hashtag/GBTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#GBTC</a>, good for those that buy dips &amp; value their wealth in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://t.co/pzWCLjuwZ0" rel="noopener noreferrer nofollow">https://t.co/pzWCLjuwZ0</a></p>
 <p>— Simon Dixon (@SimonDixonTwitt) <a href="https://twitter.com/SimonDixonTwitt/status/1749479308731597294?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 22, 2024</a></p>
</blockquote>
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<p>With hopes of creditor settlement spanning social media, the FTX token, FTT surged nearly 12% even as claims rose to 80 cents on the dollar.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Hopes of creditor repayments stirred <a href="https://twitter.com/search?q=%24FTT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FTT</a>, the tokens of the now-defunct FTX exchange, higher by 11%, with claims rising to 80 cents on the dollar. By <a href="https://twitter.com/shauryamalwa?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@shauryamalwa</a>.<a href="https://t.co/Jdc7zXHjth" rel="noopener noreferrer nofollow">https://t.co/Jdc7zXHjth</a></p>
 <p>— CoinDesk (@CoinDesk) <a href="https://twitter.com/CoinDesk/status/1749715417491202255?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 23, 2024</a></p>
</blockquote>
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<h2 id="ftx-token-price-outlook-with-exchange-creditors-showing-renewed-hope">FTX Token Price Outlook With Exchange Creditors Showing Renewed Hope</h2>
<p>The FTX token price has been consolidating around the critical support at $2.83. This is after actualizing a rising wedge pattern and confirming its bearish target objective with nearly 50% in dump. With abounding overhead pressure indicated by the 100- and 50-day Simple Moving Averages, there could be a delay in the potential climb for FTX token price.</p>
<p>In addition, the Relative Strength Index (RSI) appears subdued, moving horizontally with an inclination to the south. This shows momentum continues to fall. The position of the RSI below 50 also points to weak price strength, further accentuating the bearish thesis.</p>
<p>The Moving Average Convergence Divergence (MACD) is also moving horizontally in negative territory, increasing the odds for the bears.</p>
<p>If the bulls fail to take over the FTT market, the bears could take charge, sending the FTX token price south. This could see the altcoin’s price test the $2.00 psychological level. In the dire case, the slump could send the altcoin nearly 65% below current levels to the support floor at $0.98.</p>
<p><a href="https://insidebitcoins.com/wp-content/uploads/2024/01/FTTUSDT_2024-01-23_12-29-30.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-474455 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/01/FTTUSDT_2024-01-23_12-29-30.png" alt="FTX" width="1272" height="543" srcset="https://insidebitcoins.com/wp-content/uploads/2024/01/FTTUSDT_2024-01-23_12-29-30.png 1272w, https://insidebitcoins.com/wp-content/uploads/2024/01/FTTUSDT_2024-01-23_12-29-30-300x128.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/01/FTTUSDT_2024-01-23_12-29-30-1024x437.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/01/FTTUSDT_2024-01-23_12-29-30-768x328.png 768w" sizes="(max-width: 1272px) 100vw, 1272px"></a></p>
<p><a href="https://www.tradingview.com/x/bH00vGuz/" target="_blank" rel="noopener noreferrer nofollow">TradingView: FTT/USDT 1-day chart</a></p>
<h4>Converse Case</h4>
<p>Increased buying pressure above current levels could see the FTX Token price overcome the $2.83 resistance level. Past this, it could confront the 100-day SMA at $2.99. Further north, the gains could see the FTT price test the 50-day SMA at $3.46. Above this, the path would be clear for the FTX Token price to target the $4.00 psychological level.</p>
<p>In the highly bullish case, the gains could see the FTX Token price shatter past the $5.00 psychological level. Beyond here, it could reclaim the $5.59 resistance level, last tested on December 13.</p>
<p>The highly ambitious case would concern the altcoin’s market value flipping this barricade into support. This could see it serve as the jumping-off point to target the $6.48 resistance level, last seen in November 2022 before Sam Bankman-Fried’s crypto empire crumbled.</p>
<p>However, as the FTT bulls fight to push the FTX token price towards reclaiming the pre-FTX crash highs, investors are turning to <a href="https://insidebitcoins.com/visit/launchpad" target="_blank" rel="noopener noreferrer nofollow">LPX</a>, which experts say is arguably the <a href="https://www.linkedin.com/pulse/best-ai-crypto-coin-projects-top-picks-2023-juliana-clarisse-calsona-d67oe" target="_blank" rel="noopener noreferrer nofollow">best AI crypto coin to invest in</a>&nbsp;now.</p>
<p><iframe title="YouTube video player" src="https://www.youtube.com/embed/3qvSMVDi4Yc?si=8K-TxExOiYdesmRC" width="560" height="315" frameborder="0" allowfullscreen></iframe></p>
<h2 id="promising-alternative-to-ftx-token">Promising Alternative To FTX Token</h2>
<p>LPX is the native crypto for the <a href="https://insidebitcoins.com/visit/launchpad" target="_blank" rel="noopener noreferrer nofollow">Launchpad XYZ</a> ecosystem. This is a project that helps community members find the next 10X trades. The project helps community members to become winners by revealing the secrets of Web3 crypto trading.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">🛠️ Tip of the day: Utilise <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> trading tools for deeper market analysis.</p>
 <p>Tools can offer valuable perspectives! <a href="https://twitter.com/hashtag/TradingTools?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TradingTools</a> <a href="https://twitter.com/hashtag/LaunchpadXYZ?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#LaunchpadXYZ</a></p>
 <p>— Launchpad.xyz (@launchpadlpx) <a href="https://twitter.com/launchpadlpx/status/1748269097240916008?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 19, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The project is focused on being the heart of the next wave of Web3 users. To this end, it focuses on two core values. First, it aims to make every trader independent, and second, to achieve decentralization.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">🤖 Unleash the Power of Apollo AI: Your personal crypto advisor!</p>
 <p>Gain insights, make informed decisions, and conquer the world of crypto with confidence! 💪</p>
 <p>Join the revolution! 🔥<a href="https://twitter.com/hashtag/Web3?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Web3</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/AI?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#AI</a> <a href="https://twitter.com/hashtag/Blockchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Blockchain</a> <a href="https://t.co/sYKgswo0YH" rel="noopener noreferrer nofollow">pic.twitter.com/sYKgswo0YH</a></p>
 <p>— Launchpad.xyz (@launchpadlpx) <a href="https://twitter.com/launchpadlpx/status/1747650170412466657?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 17, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Launchpad XYZ is in the presale stage, with over $2.709 million already in the bag as investors <a href="https://insidebitcoins.com/buy-cryptocurrency/buy-launchpad-token" target="_blank" rel="noopener noreferrer nofollow">buy LPX</a> for $0.0445. With the presale ending in less than a day, interested investors have no time to lose.</p>
<p><iframe title="This Crypto Coin is Changing Everything: Presale ends in 1 Day [LAUNCHPAD XYZ]" width="640" height="360" src="https://www.youtube.com/embed/P5stdrMOhCA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<p>Visit Launchpad XYZ to buy LPX in the presale <a href="https://insidebitcoins.com/visit/launchpad" target="_blank" rel="noopener noreferrer nofollow">here</a>.</p>
<h3 id="also-read">Also Read:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/buy-cryptocurrency/buy-launchpad-token" rel="noopener noreferrer nofollow">How to Buy Launchpad XYZ – LPX Token Presale</a></li>
 <li><a href="https://insidebitcoins.com/news/5-best-altcoins-to-buy-in-january-for-possible-100x-growth-this-2024" rel="noopener noreferrer nofollow">5 Best Altcoins to Buy in January for Possible 100x Growth this 2024</a></li>
 <li><a href="https://insidebitcoins.com/news/next-bayc-or-cryptopunks-discover-hot-new-nfts-to-buy-using-launchpad-xyz-2" rel="noopener noreferrer nofollow">Next BAYC or CryptoPunks? Discover Hot New NFTs to Buy Using Launchpad.xyz</a></li>
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FTX Token Price Prediction: FTT Surges 12%, But Investors Turn To This AI Presale With Only Hours Left To Buy

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