On November 11, 2022, the cryptocurrency market began to recover after several days of drawdown. Thus, the total capitalization increased by 3% in 24 hours and reached $857 billion. Investors increased trading volumes by 26% to $139 billion.
One of the leaders in recovery was FTX Token. The quotes of the token increased by 25.68% per day. Also, the total capitalization increased by 25.6%. However, the trading volume for the specified period fell by 18%.
Fluctuations on the FTX exchange are associated with recent conflict events that began on November 8th. Also, the development of the situation was influenced by the announcement of the head of Binance, Changpeng Zhao, who announced on Twitter about plans to sell FTT tokens in the amount of $600 million.
As a result, the market went into a frenzy and more than $1 billion was withdrawn from the FTX exchange. This led to the fact that the FTT token fell by 20% in a day.
Earlier, it became known that in order to protect their members, the FSA Japan team limited all operations, carried out on FTX. Read more about this here.
