CandleFocus FTX Token Surges 113% – What Triggered the Rise
2024-09-30
Author: Content Editor
The price of FTX Token (FTT) experienced a surge of 113% before the correction, following false rumors about a $16 billion repayment. The excitement prompted holders to consider selling their assets, but the price ultimately closed 57% higher. The rise in FTT's price led to a ten-month high in active deposits, indicating caution among traders. However, increased deposits also suggest that investors are positioning themselves to exit at the right moment. FTT is currently trading at $2.12, and it may find support at $2.00, with a potential bounce pushing it back above $2.20. However, if the price drops below $1.90, it could further decrease to $1.58.
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