Investing.com – , the cryptocurrency of the bankrupt crypto platform FTX, is by far the best performing cryptocurrency in the top 50 this Saturday, exploding 55% over 24 hours.
Remember, however, that the rise started on Thursday, when FTT was worth $1.30, and brought the token to a peak at $5.48 on Friday, a gain of 320% in less than 48 hours.
To explain this powerful increase in FTT, which until then had benefited very little from the crypto market rally, we will note speculation on a possible commercial relaunch of the FTX crypto platform.
Several groups are reportedly interested in taking over FTX following last week’s trial which saw the company’s founder, Sam Bankman-Fried, receive a guilty verdict on seven counts.
The speculative recovery of the FTX Token thus gives hope for a further increase if the relaunch of the platform is confirmed, although it is not guaranteed that the possible buyer wishes to continue using the FTT in the restarted exchange.
However, it should be noted that for the moment, the FTT has already corrected significantly since its peaks yesterday, settling around $4 at the time of writing this article.