FTT Achieves Exceptional Growth
Recently, the cryptocurrency FTT, which was initially developed by Sam Bankman Freed and the insolvent company FTX, has seen a significant increase in market capitalization.
This improvement comes despite difficult circumstances, including the fraud conviction and indictment of Sam Bankman Freed and FTX's ongoing Chapter 11 bankruptcy proceedings.
Over the past two weeks, FTT has seen a staggering 200.2% rise against the dollar, despite falling 6.3% in the past week.
Currently, FTT boasts a global 24-hour trading volume of $230.85 million, placing it 21st globally in terms of spot trading volume.
As of November 19, 2023, FTT's main trading pairs include USDT, USD, ETH, USDD, and USDC.
This significant rise in FTT's value comes in light of the fact that a large portion of its supply is in the hands of FTX and centralized trading platforms.
With 29,221 FTT holders, the top 100 holders control 98.83% of the total supply.
This good performance may seem puzzling, especially since it was developed by a fraud-convicted figure and a bankrupt company.
The main reason for this increase was due to positive expectations surrounding the possibility of relaunching FTX under new management.
Many investors are betting on the possible return of FTT in FTX 2.0, anticipating that this will give it new value and possibilities.
However, the future of FTT remains uncertain, and the new team for FTX may decide not to use this digital token for various reasons.
Despite these doubts and risks, speculation in this controversial company's digital currency continues.
