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The FTX token witnessed a significant surge over the past day despite the market’s U-turn after the largest exchange by trading volume Binance faces criminal charges. 
FTT is up by 18% in the past 24 hours and is trading at $3.63 at the time of writing. The asset’s market cap reached $1.19 billion, making it the 35th largest cryptocurrency. Data shows that FTT’s 24-hour trading volume soared by 318%, surpassing the $250 million mark. 
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 FTT price, whale activity and social volume – Nov. 22 | Source: <a href="https://app.santiment.net/charts/b2dn4DL7__sCl" target="_blank" rel="noopener">Santiment</a>
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According to a crypto.news <a href="https://crypto.news/ftx-token-rises-sharply-on-hopes-of-exchanges-rebirth/">report</a>, one of the main price movers for FTT’s bullish momentum is the optimism around <a href="https://crypto.news/tag/ftx/" data-type="link" data-id="https://crypto.news/tag/ftx/">FTX’s</a> rebirth. 
 You might also like: <a href="https://crypto.news/wsj-changpeng-zhao-to-step-down-plead-guilty-as-part-of-binance-doj-settlement/"> WSJ: Changpeng Zhao to step down, plead guilty as part of Binance-DoJ settlement </a> 
Moreover, as <a href="https://crypto.news/binance-charged-with-three-major-crimes-by-the-doj-including-conspiracy/">Binance faces three criminal charges</a> with a $4.3 billion settlement with the U.S. Department of Justice, data from Santiment shows that some investors are swapping <a href="https://crypto.news/price/bnb/" data-type="link" data-id="https://crypto.news/price/bnb/">BNB</a> for FTT. The movements come while many altcoins are witnessing significant declines in their market caps. 
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 📊 Although many see the <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Binance</a> news as the main culprit for one of the biggest retraces of the year, the fact of the matter is that <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#altcoins</a> had already seeing shrinking market caps. Interestingly, it appears some traders are swapping their <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BNB</a> for <a href="https://twitter.com/FTX_Official?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@FTX_Official</a>'s <a href="https://twitter.com/search?q=%24FTT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$FTT</a>. 🤔 <a href="https://t.co/4eWvWp5kOc" target="_blank">pic.twitter.com/4eWvWp5kOc</a>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1727131878195663127?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 22, 2023</a>
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According to data provided by Santiment, FTT’s social activity surged by around 190% over the past 24 hours — this comes as fear, uncertainty, and doubt, or FUD in popular crypto parlance, continues to swirl around BNB. 
Data shows that whale transactions consisting of at least $100,000 worth of FTT have also seen a 300% surge over the past day — rising from only four trades on Nov. 21, including 16 unique transactions at the time of writing.&nbsp; 
Furthermore, the price-daily active addresses (DAA) divergence also shows a buy signal for the FTX token. According to the market intelligence platform, FTT’s price DAA divergence currently stands at 182%, suggesting a strong signal to accumulate the asset. 
 Read more: <a href="https://crypto.news/u-s-justice-department-to-announce-binance-settlement-later-today/"> U.S. Justice Department to announce Binance settlement later today </a>

FTX token FTT reaches $3.63, trading volume skyrockets

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Alte articole publicate pe 22 nov. 2023

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