FTT surges 48%; other bankrupt tokens also rise

Hull Invest

Bankrupt FTX’s native token, FTT, was one of the best performing digital assets in the last 24 hours, surging more than 48% to $According to 2.58 of crypto slate data.

The embarrassed exchange token rose more than 170% in the 7-day metric. Impressive price performance since FTX filed for bankruptcy in his November 2022 saw the token drop below $1 in his December 2022 and since trading at that level until January 10, 2023. , was pushed to the highest level.

Meanwhile, despite the rapid rise, the token is still down 97% from its all-time high of $84.

The Crypto Community Can’t Explain the Increase in FTT

Several analysts within the crypto community have perplexed Many exchanges are wondering why they didn’t delist their tokens.

crypto investor mac Said:

“[There is] Nowhere else in the world has the stock of a company that has gone bankrupt due to fraud going up hundreds of percent.in the meantime $FTT Not yet delisted from Binance, x3 from low. Are you wondering why regulators hate us?”

Another cryptocurrency trader Ran Neuner Asked Unless there is a reason to short the FTT now. According to Noiner, the token “must be absolutely zero.”

Other Confused Tokens Rise

In addition to FTT, Voyager’s VGX and Celsius’s CEL, the native tokens of bankrupt crypto lenders, have also risen over the past 24 hours.

Voyager’s VGX surges 11% over the past 24 hours to $0.4247 at the time of writing. The distressed lender’s token surged over 37% in the 7-day indicator and 41% over the last 30 days.

Meanwhile, Celsius’s CEL registered a slight increase of 1.28% over the last 24 hours. Compared to its competitors, CEL registered a modest increase of 13.68% over the past 7 days and a 30% increase over the past month.

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