FTX Token (FTT) up 37% as Reboot Plans Go Viral

FTX token (FTT) has printed five consecutive days of upsurge as the conversation around the reboot of the bankrupt FTX derivatives exchange is now taking centerstage. At the time of writing and per data from CoinMarketCap, FTT is changing hands at a spot price of $1.75, up by 37.33% in the past 24 hours.

Timeline of Ftx-token

FTT, the native currency of FTX and its ecosystem, is up 45% when writing on June 28. This positive price action follows a report by the Wall Street Journal that the exchange's new management has started receiving proposals from parties interested in restarting the exchange.

FTX token (FTT), the native digital currency of the bankrupt FTX Derivatives Exchange, has recorded very impressive daily growth today. The FTT token soared by 15% in an apparent resurgence to peg its price at $1.31, as it is now making an apparent move to recover from the lows of the past month.

Recent on-chain activity involving the Ethereum address ‘0xd275e‘ has caught the attention of the crypto community. Through CryptoSlate‘s on-chain analysis, no concrete evidence pointing to the owner of the account has been discovered.

Former NBA star Shaquille O'Neal, has been sued once again over his involvement in cryptocurrency promotions. What Happened: This time, O'Neal is facing a proposed class action in Florida federal court, alleging that he violated securities laws by selling unregistered tokens in connection to Astrals NFT Project.

A recent court filing made by FTX's bankruptcy estate revealed that current CEO John Ray III spent several hours last month working on a revival plot for the bankrupt crypto exchange. The news led to a 7% surge in FTT's price.

Binance posted a message to say that today a list of 18 tokens will be moved to the Innovation Zone. This list consists of FTX (FTT), Voyager (VGX), BitShares (BTS), WazirX (WRX) and others.

FTT Token, the native coin of the failed crypto exchange FTX, is experiencing a slide in today's trading session. While it started the trading day negatively, it showed no recovery and further declined in price, recording up to an 8% loss and finding a spot in the top 3 losers in the sector.

As the news of FTX's revival broke, there was a spike in the creation of new FTT addresses. However, FTT's future is still under question as a few market indicators were bearish.

After the news broke out that the bankrupt cryptocurrency trading platform FTX had recovered more than $7.3 billion in cash and liquid crypto assets and its attorney hinted that the crypto exchange could reopen at some point in the future, the FTX Token (FTT) has experienced a significant increase in on-chain activity.

FTX's lead attorney said that restarting the exchange would require significant capital and there was an internal debate about whether this money should come from FTX's estate capital or through third-party capital.