FTX Token (FTT) has emerged as the top performer in the crypto market, defying the market downturn with a 7% surge. This is in contrast to the overall market, which has seen a $53 billion drop in market capitalization in the past 24 hours. On-chain data suggests a rise in bullish sentiment toward FTT, with spot inflows indicating a gradual increase in demand. The token’s rising open interest also supports this bullish outlook, signaling strong market participation. FTT is attempting to stabilize above its 20-day exponential moving average (EMA), which could indicate a shift toward bullish momentum. If the rally continues, FTT could climb to $2.27 and eventually $2.57, but profit-taking could cause a drop to $1.94.



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