CandleFocus AI predicts FTX Token price for October 31, 2024
2024-10-04
Author: Content Editor
FTX Token (FTT) has experienced a significant surge of 20.40% in the past 24 hours, now trading at $2.40. The price increase is attributed to speculation surrounding FTX's bankruptcy proceedings and the potential distribution of funds to creditors and customers. While rumors suggested payouts might start on September 30, a court hearing on October 7 will determine the approval of FTX's restructuring plan. If approved, smaller claims could see payouts starting by the end of 2024. AI-based predictions suggest FTT could reach $2.65 by October 31, 2024. FTT has gained renewed interest, with its market cap increasing from $472 million to $789 million in the past week. The token is currently holding support at $1.83, with a resistance level at $2.58. Market optimism, potential reimbursements, and favorable market developments could contribute to a cryptocurrency rally in Q4, benefiting FTT and Bitcoin.
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