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FTX’s FTT token rallies 28% — Binance effect or FTX 2.0 reopening?

Published 11/23/2023, 07:45 AM
Updated 11/23/2023, 09:20 AM
FTT/USD
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Amid market uncertainties around Changpeng “CZ” Zhao’s departure as Binance CEO, defunct crypto exchange FTX’s native FTX Token (FTT) witnessed a brief bull run. FTT has surged in value over the past 48 hours, trading at $4.63 at the time of writing, a 28% increase from $3.56.

FTT is experiencing another surge following Binance’s $4.3 billion settlement with the United States Department of Justice, according to on-chain analysis firm Santiment, which revealed the 10 largest wallets accumulating $12.8 million of tokens in 19 days.

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