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In a stunning turn of events, FTT, the native token of the now-defunct cryptocurrency exchange FTX, experienced a remarkable 150% surge Friday to tap $5.53 following comments made by U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler.
In a week marked by exhilarating volatility in the crypto space, FTX's native token, FTT, has emerged as the standout performer, surging an astonishing 250% amid speculations of a potential FTX revival. While Bitcoin took a breather, hovering around $37,000, the broader market witnessed notable fluctuations, with altcoins like Solana, Shiba Inu, Tron, Dogecoin, and Avalanche making significant moves.
In November 2023, the assets of the projects that faced brutal collapses a year ago started pumping. While the true catalysts of this rally remain unclear, the situation looks confusing to investors.
This week, the crypto economy climbed to the $1.4 trillion range as dozens of virtual assets witnessed gains. From November 4 to Saturday, November 11, 2023, several crypto assets recorded triple-digit weekly gains, and a great deal captured double-digit gains.
The FTX token (FTT) surged by 250% in one week after renewed interest from investors to acquire the bankrupt cryptocurrency exchange after Sam Bankman-Fried's conviction.
FTX Token (FTT) is on a major parabolic run that has pushed it to return profits to everyone who bought it at the start of the year. In a bid to sustain its latest uptrend, FTT soared as high as 53.30% with its price touching $4.10, a level that is by far the highest price point for this year.
FTX's native token stands in a league of its own in terms of both daily and weekly gains.
The recent surge in FTT's price has significantly boosted the overall valuation of both FTX and Alameda Research. However, it is essential to note that most of these funds cannot be easily converted into cash due to their illiquid nature.
The crypto prices today also witnessed an upward momentum, continuing gains from the previous sessions, suggesting that investors are still putting their bets on the digital assets' space. The market has been in positive territory throughout the week, indicating an increasing confidence of global investors in the crypto segment.
The cryptocurrency markets saw an eventful week of trading, with a wide variety of projects exploding to post massive gains over the last 7 days.
Altcoins linked to Sam Bankman-Fried see a significant surge, as the FTX token soared over 200% in a week.
U.S. Securities and Exchange Commission (SEC) chairman Gary Gensle emphasized the importance of compliance with the law for anyone venturing into the cryptocurrency space, particularly in light of efforts to revive FTX.
FTT currently trades at its highest since FTX collapsed in November 2022. The price surge came after Gary Gensler said the SEC was open to the possibility of restarting the exchange.
In a surprising turn of events, FTX's native token, FTT, has soared by an astounding 76.4% over the past 24 hours, reaching a price of $2.20 according to CoinGecko. This impressive rally comes on the heels of Securities and Exchange Commission (SEC) Chairman Gary Gensler's remarks indicating his willingness to consider the rebirth of the once-prominent FTX exchange, under one condition – adherence to U.S. laws and the maintenance of investor trust.
FTT rallied 90% as SEC Chair Gensler signaled openness to FTX reopening under new management adhering to laws.
FTX's proprietary token, FTT, has witnessed an impressive surge of over 80% following reports that say Tom Farley, the former president of the New York Stock Exchange (NYSE), is potentially interested in acquiring and rebooting the collapsed exchange. FTT Price Jumps More Than 80% Over FTX 2.
FTT rose over 65% despite FTX founder Sam Bankman-Fried's guilty verdict last week.
FTT, the native token of defunct cryptocurrency exchange FTX, has surged by 90% following comments from SEC chairman Gary Gensler in relation to a potential reboot of the exchange that collapsed one year ago.
117 Partners Founder Thomas Braziel cast doubt on whether a rejuvenated FTX would ever succeed, calling it "a head fake."
Story Highlights The live price of FTX is . FTX price with a potential surge could go as high as $2.89 by the end of 2023. FTT price could reach a high of $12.58 by the end of 2030. The previous year turned out to be the wealthiest season for altcoins.
FTX's token surged following reports that the exchange could be revived—though there's no indication the token would be part of that revival.
Plans to bring Sam Bankman-Fried's crypto exchange FTX back to life are currently underway. Three bidders, including a company run by former New York Stock Exchange President Tom Farley, are vying to buy the remnants of the now-bankrupt exchange.
FTX Token (FTT) price jumped more than 78% to hit highs of $2.36 on Thursday as the broader crypto market added 3% to the global market cap. The altcoin, native to the FTX exchange, had plummeted to near $0 in November after the platform imploded and filed for bankruptcy. Price remained below $1.35 since.
The market has experienced a short squeeze in value as the industry has witnessed a jump of over 3% within the past day. Bitcoin has surpassed $36,000 for the first time this year.
