FTX token (FTT) on-chain activity skyrockets amid FTX exchange relaunch plans

FTX has again shot into the limelight after the exchange’s lawyer revealed that the exchange is considering launching in Q2, 2023 after the revelation of $7.3 billion in assets since filing for Chapter 11 Bankruptcy and the FTX CEO Sam Bankman-Fried being charged in court.

The news saw the price of the FTX token (FTT), which is FTX’s native token, see some recovery and increased on-chain activity. The token shot up from $1.32 to $2.63 in a matter of hours after the news of relaunching broke.

The FTX Token trading volume and price seem to have failed to retain momentum, having declined since. As it happens, the FTX Token (FTT) was at press time trading at $2.13, down about 4% in the past 24 hours. Its trading volume has also seen a drop from 460 million FTT to the current 136 million FTT.


New FTT addresses created

According to data from Santiment charts, the FTT has seen about 879 new crypto addresses created over the past two days which is quite a positive step for the cryptocurrency that had remained quite relegated by the crypto community since the FTX collapse in October last year.

Although the price of FTT has dropped from where it was after the surge following the relaunching news, the token is still more than 58% over the last seven days adding to the 68% price gain over the last month. The token is 130% higher since the year started.


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