- FTT Surges on FTX Repayments: Traders Take Huge Gamble
- Crypto All-Stars’ MemeVault Launch: High Expectations for the New Project
FTT, the native token of the bankrupt crypto exchange FTX, has seen a 50% rally today despite no longer having any utility. Will it generate more gains in October? Let's take a look.
FTT Surges on FTX Repayments: Traders Take Huge Gamble
An FTT recovery was probably not on most people’s lists of things to happen in 2024. After the implosion of FTX in 2022, the FTT token has been sidelined from any notable trading activity. However, the FTX repayment process begins this week, which will see defunct users receive $16 billion. The rise of FTT is completely unexpected, though the market is clearly betting on some liquidity returning to FTT. Analysts expect crypto prices to rally on the FTX repayments, and some of this liquidity could trickle into FTT. Analyst Saladaz says FTX could produce a 'scam pump,' meaning a sharp but brief increase followed by a strong correction.
Crypto All-Stars’ MemeVault Launch: High Expectations for the New Project
The project Crypto All-Stars is creating the world's first MemeVault, a unified staking protocol that lets users stake top memecoins like Dogecoin, Shiba Inu, Pepe, and others. Users must hold STARS tokens to access the vault, which ensures long-term demand. Additionally, they can stake their STARS tokens for more rewards.
FTT is popular today because of the FTX repayments, but its future remains uncertain in the long term. The crypto market is driven by narratives, and FTT's rise underscores this dynamic.
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