FTT token soars over 70% in a week on FTX relaunch rumors
Recent rumors suggest that the collapsed FTX exchange is intensifying efforts to relaunch its platform while going through the bankruptcy process. This has led to a significant price increase for FTT, FTX’s native token, which surged more than 70% in the past week. The token’s market cap also soared by around $233 million. While FTT’s price has rallied by nearly 110% year-to-date, it is still far from its all-time high of $84.09. The latest report from The Wall Street Journal indicates that the odds of an FTX reboot are higher-than-expected, with discussions about a potential rebrand and compensation for existing FTX customers.
- Rumors suggest FTX is making efforts to relaunch its platform while going through bankruptcy.
- FTT, FTX’s native token, surged over 70% in the past week.
- FTT’s market cap soared by around $233 million.
- FTT’s price has rallied by nearly 110% year-to-date.
- The odds of an FTX reboot are higher-than-expected.
- Potential discussions include a rebrand and compensation for existing FTX customers.
Hot Take: The surge in FTT’s price and market cap indicates growing investor optimism about the potential revival of the FTX exchange. While the token’s price is still far from its all-time high, the latest report suggests that the odds of an FTX reboot are higher-than-expected. If the rumors materialize, FTX would likely undergo a rebrand and existing FTX customers may receive compensation. These developments highlight the dynamic nature of the cryptocurrency market and the potential for unexpected turnarounds even in the face of bankruptcy.
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