The cryptocurrency market is in flux as FTX's native token, $FTT, has seen a dramatic surge, rising more than 🟢➡️55% in the last 48 hours to trade at $4.85 today.

This increase is part of a month-long rally that has seen the token appreciate by ❤️‍🔥390%,❤️‍🔥 pushing its market capitalization to $1.5 billion. The notable rally comes amid a broader rally in cryptocurrencies and related meme coins, despite the limited utility of FTT on the now-bankrupt FTX platform.

The surge in the value of TLT is attributed to significant buying activity by the top 10 whale portfolios, which have collectively amassed around $12.8 million worth of TLT, according to Santiment data.

This institutional interest helped the token hit a yearly high and break above key resistance levels.

There is renewed hope for FTX's revival, as offers have come in from various parties, including Tom Farley's Bullish and others such as Figure Technologies and Proof Group, following Bullish's recent acquisition of CoinDesk.

Market analysts are closely watching TLT, which is currently in a distribution phase after a period of accumulation. Analyst Crispus, with nine years of experience and who runs his family's trading operations from Nairobi, suggests that while there is a potential bearish breakout, if TLT can sustain the momentum and break above the $5.530 resistance level , there could be further gains on the horizon.

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