© Reuters FTX (FTT) token platform explodes by 20% as plans to relaunch the platform emerge
The FTX platform token (FTT) has seen a price increase for five consecutive days as discussion over the relaunch of the now-defunct FTX derivatives platform has come to the fore. At the time of publication, FTT was trading at 1.71. With a growth of 21% over the past 24 hours, CoinMarketCap data shows.
Optimism on FTX2.0 increased after rumors about the platform’s re-launch. Many investors now believe that FTT is trading at a discount. The news of the potential reboot of the trading platform sparked a new influx of capital into the digital currency.
The current management of the trading platform is making great efforts to ensure the restart.
The company’s CEO, John Ray. Restore consumer confidence by improving the effectiveness of service delivery and renaming of products. And strengthen security measures, and increase responsibility for all potential customers. According to The Wall Street Journal.
To arouse the public’s attention, the management of the trading platform said that it has recovered more than $7 billion in cash owned by customers. This money will be used to pay off the exchange claims of some of the platform’s debtors.
Although FTT is now experiencing growth. However, revising its all-time high (ATH) is a very ambitious request at the moment. The FTT token was trading at an all-time high of $85.02 when it was at the height of its popularity. This represents a decrease of over 97% from its current position.
Crypto Horizon
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2023-06-29 15:00:00
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