FTX agenda stirs things up: FTT up 70 percent!

FTT, the native cryptocurrency of bankrupt cryptocurrency exchange FTX, has seen an upward trend amid bankruptcy distributions.

According to CoinGecko data, FTT briefly touched $2.70 for the first time since March 2024, up over 70 percent on September 29. Trading at around $1.4 last month, FTT saw a nearly 75 percent increase on September 29. It later fell back to $2.10 under selling pressure. The altcoin, which has exploded upwards after a long hiatus, has reminded itself again.

FTT's rise came after rumors that the FTX bankruptcy office would begin distributing repayment funds to creditors and customers on September 30. However, according to the official Chapter 11 filing, the bankruptcy plan has not yet been approved. A court hearing to approve the plan is scheduled for October 7.

If the plan is approved, the FTX board of trustees will begin making distributions to creditors under $50,000 by the end of 2024. On the other hand, those with larger receivables may not receive distributions until the first or second quarter of 2025. $FTT , which gained positive momentum with these developments in FTX, surprised the market. An increase was expected due to the news. However, most crypto investors did not expect an increase close to 70%.

If the active agenda on the FTX side continues, $BTC increases or BTC dominance decreases, positive momentum may continue in FTT. However, if the opposite scenario occurs, there may be heavy sales in the parity.

#KIP #KIPprotocol #CryptoDeNostradame #MOGUL #MogulProdustions