FTT, the exchange token linked to the now-defunct FTX platform, defies odds with a remarkable 200% spike in value over the past two weeks. Despite legal troubles and bankruptcy proceedings involving FTX and its creator Sam Bankman-Fried, FTT’s surge sparks speculation about its potential role in a speculated FTX 2.0.
FTT, the exchange token born from FTX, has witnessed an impressive 200% surge in just two weeks, reaching over $3 per unit. This surge is notable amid the bankruptcy woes of FTX and its founder’s fraud conviction. FTT’s recent performance, despite a 6.3% dip in the past week, has intrigued investors, with a 24-hour global trade volume of $230.85 million.
The token’s supply dynamics are interesting, with a significant portion held by the FTX estate and centralized exchanges. Despite skepticism due to its origins, speculation arises about FTT’s future, especially if FTX undergoes a revival under new management—termed as FTX 2.0. Investors, hopeful for a potential utility shift, are acquiring FTT, emphasizing the crypto community’s belief in FTX’s resurgence. Yet, uncertainties loom, and the future of FTT remains speculative, hinging on the unpredictable path of FTX 2.0.