Reasons for the rise in bankruptcy
#FTT is the platform currency of the FTX exchange that went bankrupt last year. Yesterday, it was reported that the bankrupt FTX has recovered $7.3 billion in assets and is considering restarting the exchange in the second quarter.
If FTX is really restarted, it will be a great news for FTT, because it provides various functions in the FTX ecosystem, such as: trading discounts for holding coins, OTC discounts, social benefits of FTX insurance funds, weekly burning and destruction of FTX platform, etc.....
After talking about FTT, let’s talk about why $SOL, SRM, RAY, and FIDA in the Solana series also rose along with FTT.
Solana was originally a public chain promoted by FTX. Since the collapse of FTX, it has been in a slump and has experienced various outages. Most of the projects in its ecosystem are invested by the founder of FTX. Now that FTX is showing signs of revival, the Solana ecosystem will also follow suit.
As for the remaining bankruptcy sector projects: LUNA, #VGX are also linked. If you want to know more about the bankruptcy sector, you can check it in the core code
