FTT Outperforms Main Altcoins Regardless of Market Slowdown: Santiment

• Santiment report exhibits FTT outperformed a number of altcoins regardless of a crypto market slowdown. 
• The info tracker report confirmed the token added over 184% acquire to its worth over the previous week. 
• The sudden rise got here after the SEC gave the inexperienced gentle for a possible FTX relaunch.

Crypto knowledge tracker Santiment, in a Wednesday put up on X, listed FTT as one of many altcoins to have added important positive aspects to their worth regardless of a prevailing slowdown available in the market. 

Certainly, Santiment famous within the put up that FTT has added over an 184% improve in its worth prior to now week. The efficiency of the token far outpaces that of different altcoins like Solana and Avalanche, which additionally noticed important worth positive aspects. 

The sudden rise of FTT got here after the U.S. Securities and Change Fee Chairman Gary Gensler stated FTX may restart as a crypto alternate. In response, crypto merchants flocked to the token, which served primarily because the native token of the alternate. 

Nevertheless, it bears mentioning that the brand new FTX administration has reiterated that FTT not has a utility. Furthermore, the chapter committee plans to liquidate the token to settle claims, which made the surge extra shocking.

Turning to CoinMarketCap, knowledge signifies that the FTT surge has slowed significantly because the weekend. In the course of the peak, the token hit an annual excessive of over $5.5 apiece. 

On the time of press, the token is exchanging arms at $3.54, having risen 6% the final 24 hours. Commerce volumes have entered the purple zone, dropping by over 15.44% in the identical interval. 

Thus far, the FTX restart, which fueled the sudden surge, is anticipated to return in any case claims towards the crypto alternate have been settled. At current, the corporate’s administration stated they’re contemplating bids for the restart, which incorporates acquisition proposals, partnership, or an unbiased restart. 

In the meantime, Santiment additionally famous that social quantity for Bitcoin and Ethereum has risen significantly. Based on the info tracker, the rise signifies that merchants are getting within the markets once more.