FTX Token Rally Back in the Headlines: The Currency Has Soared Incredibly in the Last 3 Weeks

Crypto News – The native token of the defunct FTX exchange, FTX Token (FTT), had another surge during the last twenty-four hours, according to a post on X by the blockchain intelligence platform Santiment.

FTX Token Rally Back in the Headlines: The Currency Has Soared Incredibly in the Last 3 Weeks

Santiment cited the latest Binance news as the primary driver of the altcoin’s significant increase in the post.

A group of whales, who have amassed $12.8 million worth of FTT in the last 19 days, appear to have contributed to the increase in the cryptocurrency’s price. At the current exchange rate, this equates to 2.91 million FTT tokens. Plus, since November 3 of this year, the altcoin has surpassed the market leader, Bitcoin (BTC), by a whopping 255%.

What Do the Charts Say About the FTT Price?

While FTT has performed well over the last day, the token has currently dropped by 3.62%. According to CoinMarketCap data, the token is trading at $4.28. The price of the cryptocurrency recently increased, and this helped to propel its weekly performance more than 37% into the green.

Over the previous 48 hours, a symmetrical triangle that had developed on FTT’s daily chart over the previous two weeks was confirmed. The altcoin’s value increased by almost 35% during yesterday’s trading session. The value of the token has somewhat adjusted to trade at its current level since yesterday’s candle closed at $4.4429. However, FTT might keep rising during the next several days. The altcoin may then turn the $5.6040 resistance level into support as a result of this.