{"id":526710,"date":"2023-04-13T11:05:15","date_gmt":"2023-04-13T11:05:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=526710"},"modified":"2023-04-13T11:05:15","modified_gmt":"2023-04-13T11:05:15","slug":"ftx-token-ftt-price-doubles-in-24-hours-heres-why","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ftx-ftt-bankman\/ftx-token-ftt-price-doubles-in-24-hours-heres-why\/","title":{"rendered":"FTX Token (FTT) Price Doubles In 24 Hours, Here\u2019s Why"},"content":{"rendered":"

FTX Token (FTT) is currently one of the top gainers in the crypto market in the last day as the coin rose over 100%. This sudden growth was triggered by an announcement that said the bankrupt FTX exchange could possibly reopen for business soon.<\/p>\n

FTX Exchange Could See A Comeback<\/h2>\n

In a court hearing for the FTX exchange that was held on Wednesday, one of the attorneys working on the case dropped a bombshell that would trigger a massive rally. According to the Sullivan & Cromwell attorney, Andy Dietderich, they were considering a relaunch of the crypto exchange.<\/p>\n

Now, the proposal was that users who still had funds locked on the platform would be able to transfer some of their frozen funds to a stake on the exchange instead of receiving cash back. This follows the attorneys revealing that they had been able to locate liquid assets belonging to the exchange worth $7.3 billion, which is a sizable amount but not enough to fill the hole in FTX\u2019s balance sheet.<\/p>\n

Related Reading: Why Is Ethereum (ETH) Still Trading Below $2,000?<\/a><\/div>\n

The attorney, however, explained that to restart an exchange the size of FTX, it would need a lot of cash. So re-opening the exchange is only one of many possibilities that they are considering at this point. Dietderich further explained that \u201cThere are possibilities that customers could have the option to take part of their proceeds that they would otherwise receive in cash from the estate and receive some kind of an interest in the exchange going forward.\u201d<\/p>\n

FTT Token Doubles In One Day<\/h2>\n

Following Dietderich\u2019s comments in court, the price of FTX Token (FTT) quickly responded. Buying pressure mounted on the digital asset off of expectations that the defunct crypto exchange could resume operations and its price more than doubled in a single day.<\/p>\n

The token which started out Wednesday at a price of $1.3 peaked at $3 before the correction. This accounted for a more than 100% increase in the price of the altcoin, making it one of the best performers in the last 24 hours.<\/p>\n

\"FTX<\/p>\n

FTT rises over 100% in one day | Source: FTTUSD on TradingView.com<\/a><\/pre>\n
As the hype has died down, the price of the digital asset has begun to decline but at the time of writing, it is still trading significantly higher than its Wednesday opening price. At a price of $2.2, FTT is still seeing over 50% gains in the last day alone.<\/p>\n
Related Reading: Bitcoin\u2019s Slowdown At $30,000 Only Temporary, Here\u2019s Why<\/a><\/div>\n
The trading volume of FTT has seen even more significant growth, rising 2,000% to reach $435 million. Its market cap saw a 73% upside and has now reached $748 million, making it the 221st largest cryptocurrency by market cap.<\/p>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
FTX Token (FTT) is currently one of the top gainers in the crypto market in the last day as the coin rose over 100%. This sudden growth was triggered by an announcement that said the bankrupt FTX exchange could possibly reopen for business soon. FTX Exchange Could See A Comeback In a court hearing for the FTX exchange that was held on Wednesday, one of the attorneys working on the case dropped a bombshell that would trigger a massive rally. According to the Sullivan & Cromwell attorney, Andy Dietderich, they were considering a relaunch of the crypto exchange. Now, the proposal was that users who still had funds locked on the platform would be able to transfer some of their frozen funds to a stake on the exchange instead of receiving cash back. This follows the attorneys revealing that they had been able to locate liquid assets belonging to the exchange worth $7.3 billion, which is a sizable amount but not enough to fill the hole in FTX\u2019s balance sheet. Related Reading: Why Is Ethereum (ETH) Still Trading Below $2,000? The attorney, however, explained that to restart an exchange the size of FTX, it would need a lot of cash. So re-opening the exchange is only one of many possibilities that they are considering at this point. Dietderich further explained that \u201cThere are possibilities that customers could have the option to take part of their proceeds that they would otherwise receive in cash from the estate and receive some kind of an interest in the exchange going forward.\u201d FTT Token Doubles In One Day Following Dietderich\u2019s comments in court, the price of FTX Token (FTT) quickly responded. Buying pressure mounted on the digital asset off of expectations that the defunct crypto exchange could resume operations and its price more than doubled in a single day. The token which started out Wednesday at a price of $1.3 peaked at $3 before the correction. This accounted for a more than 100% increase in the price of the altcoin, making it one of the best performers in the last 24 hours. FTT rises over 100% in one day | Source: FTTUSD on TradingView.com As the hype has died down, the price of the digital asset has begun to decline but at the time of writing, it is still trading significantly higher than its Wednesday opening price. At a price of $2.2, FTT is still seeing over 50% gains in the last day alone. Related Reading: Bitcoin\u2019s Slowdown At $30,000 Only Temporary, Here\u2019s Why The trading volume of FTT has seen even more significant growth, rising 2,000% to reach $435 million. Its market cap saw a 73% upside and has now reached $748 million, making it the 221st largest cryptocurrency by market cap. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":526714,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[87361],"tags":[87394,85702,71704,84460,87581],"class_list":["post-526710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ftx-ftt-bankman","tag-ftt","tag-ftt-token","tag-ftx","tag-ftx-exchange","tag-ftx-token"],"acf":[],"yoast_head":"\nFTX Token (FTT) Price Doubles In 24 Hours, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"FTX Token (FTT) is currently one of the top gainers in the crypto market in the last day as the coin rose over 100%. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"FTX Token (FTT) Price Doubles In 24 Hours, Here\u2019s Why","url":"http:\/\/uniquehot.com\/news\/ftx-ftt-bankman\/ftx-token-ftt-price-doubles-in-24-hours-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ftx-ftt-bankman\/ftx-token-ftt-price-doubles-in-24-hours-heres-why\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/iStock-108222603.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/iStock-108222603.jpg?fit=1254%2C836"},"articleSection":"FTX, FTT and Sam Bankman Fried","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ftt","ftt token","ftx","ftx exchange","ftx token"],"dateCreated":"2023-04-13T11:05:15Z","datePublished":"2023-04-13T11:05:15Z","dateModified":"2023-04-13T11:05:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"FTX Token (FTT) Price Doubles In 24 Hours, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ftx-ftt-bankman\\\/ftx-token-ftt-price-doubles-in-24-hours-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ftx-ftt-bankman\\\/ftx-token-ftt-price-doubles-in-24-hours-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/iStock-108222603.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/iStock-108222603.jpg?fit=1254%2C836\"},\"articleSection\":\"FTX, FTT and Sam Bankman Fried\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ftt\",\"ftt token\",\"ftx\",\"ftx exchange\",\"ftx token\"],\"dateCreated\":\"2023-04-13T11:05:15Z\",\"datePublished\":\"2023-04-13T11:05:15Z\",\"dateModified\":\"2023-04-13T11:05:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/iStock-108222603.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/526710"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=526710"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/526710\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/526714"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=526710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=526710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=526710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}