BlocksInform
The contained FTT chip surged today as traders continue to pile up in the collapsing swap asset in an attempt to quickly earn money.
Cryptographic markets remain green this Monday morning. However, there are symbolic prizes that are soaring.
The native token for the failed ftx trade, ftt, is being pumped right now. From an intraday low of $1.64, ftt peaked at $2.50 on the morning of January. 16.
The movement added 52% to the price of the token within 18 hours. FTT has now reached its highest level since the collapse of the FTX in early November.
When the press picked him up, he was back changing hands for $2.34.
An FTT Revival?
There seems to be few reasons for the FTT pump other than the degenerate fomo (afraid to miss it).
Even after a 157% gain in the last week, ftt is still down 97% compared to its historical record. At the height of ftx and the crypto bubble market, the token increased to $84 in September 2021.
After the epic implosion of the stock market, ftt collapsed to under $1 and stayed there until January. 10, when it started to move again.
Will not be surprised if we see a scam pump in the near future! pic.twitter.com/HnHD56MVKc
— Limbo (@CryptoLimbo_) January 15, 2023
And there was no news about FTX or Sam Bankman-Fried this morning to trigger the pump.
On Jan. 15, BeInCrypto reported that former FTX.US President Brett Harrison stated that the SBF was uneasy about challenging his command. He added that sbf was "uncomfortable with the conflict" and might suffer from "substance abuse and mental health issues.”
Late last week, a bankruptcy judge approved the sale of FTX subsidiaries LedgerX, Embed, FTX Europe, and FTX Japan.
As a result, FTT could FOLD up as quickly as it climbed if only another degenerate pump and discharge.
Other Altcoin Pumps
FTT is not the only altcoin on fire at the moment, as a few others are also surging.
Frax share () is up by a whopping 40% over the day, making it the most successful in the crypto top 100 by market capitalization.
Decentraland token has also made a solid move gaining 23.5% over the past 24 hours. Other altcoins with double-digit gains today include Zilliqa
