world’s largest cryptocurrency stock exchange Binance‘s agreement with the US government regarding the charges against him and C.Z.‘s resignation as Binance CEO continues to remain hot on the agenda.
This agreement and CZ’s resignation Bitcoin And in altcoins Although it caused a decline at first, recoveries began in a short time.
BTC While altcoins and altcoins were slowly recovering, some altcoins differentiated themselves positively from the market with their rise. One of them is the company that went bankrupt in November 2022. FTX’s native token FTT happened.
Experiencing an increase of nearly 50% in the last 48 hours FTT It topped the list of the most profitable altcoins with an increase of 21.2% in the last 24 hours.
In addition to the short-term increase, FTT also recorded a growth exceeding 330% on a monthly basis. While the source of this increase is wondered centimeterFTT post came from .
According to Santiment, most of this increase in FTT was due to the accumulation in the top 10 whale wallets in recent days, while the increase in the last 48 hours was due to the impact of the Binance-USA deal news.
” Those who took the chance to rise in FTT were rewarded again after the Binance-USA deal news. Because after this news, FTX’s native token experienced a second rise.
The main source of the FTT rise was that the top 10 wallets accumulated $12.8 million worth of FTT in 19 days. It seems that the FTT price has increased as whales accumulated it.”
📈 Those who took a chance on $FTT continue to be rewarded, with a second rally for #FTX‘s native token coming after yesterday’s #Binance news Its price appears to have been boosted by the 10 largest wallets accumulating $12.8M worth of coins in 19 days. https://t.co/V3QNq91asF pic.twitter.com/DL5pkVfW96
— Santiment (@santimentfeed) November 23, 2023
Analysts also evaluated the rise of FTT and stated that this rise may be due to the possibility of FTX being restarted.
At this point, analysts stated that the possibility of FTX’s reopening was welcomed by both individual and institutional investors, triggering the rise in FTT.
Rising to $5.5 on November 10 with the rise it has experienced in the last month FTTcontinues to be traded at $4.6 at the time of writing.
*This is not investment advice.
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