🚀 FTT Token Soars Over 30%! Here's Why 🔥

The native token of the bankrupt crypto exchange FTX, FTT, has shocked the market with a 30% price surge in the last 24 hours, hitting a monthly high of $2.93! This remarkable rally comes in the wake of a major update on FTX’s reorganization plan, which is set to roll out in January 2025.

Why is FTT Pumping?

On November 21, FTX announced the final phase of its court-approved Chapter 11 reorganization plan. The plan focuses on distributing funds to creditors and customers, starting early 2025. Key steps for reimbursements include:

Setting up an account with a Distribution Agent

Completing KYC verification

Submitting required tax forms

Market Reaction:

FTT's surge positions it as the top gainer among the top 100 cryptocurrencies! Although it briefly corrected to $2.56, its market cap stands strong at $843M. Analysts suggest that if this trend persists, FTT could breach resistance at $2.69 and aim for its year-to-date high of $3.43. However, large sell-offs may exert downward pressure.

With the crypto market in bull mode, FTT’s future looks intriguing! Will it continue this momentum? Share your thoughts below!

💬 Follow @Vikasjangracrypto for daily crypto updates, insights, and trends. Don’t forget to like, share, and comment!