Anyone know why FTT price started to rise just now? - page 3.

South Park

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Quote from: Ultegra134 on January 15, 2023, 02:47:52 PM

I'm certainly not the most qualified person to answer your question but I recently came across an article claiming that the FTX exchange was able to recover 5 billion dollars in assets (including other cryptocurrencies, cash, and other liquid assets) in an effort to repay its customers, which could possibly justify the recovery FTT is marking.

Source: https://cryptopotato.com/ftx-locates-5-billion-in-assets-attorney-says-report/

This is definitely something I was unaware so thanks for sharing it, and while this is good news I doubt this is enough to repay all the money FTX owes, however it is nice to see the pool of assets from which investors could be repaid is getting larger, still I would say that most of the growth on the FTT token is pure speculation, despite its tarnished reputation the FTT token is widely known so if it pumps people notice, then it is possible a few whales pumped its price after getting to know those news and then speculators simply joined the party hoping to get some profits for themselves.

Franctoshi

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I've totally shifted my attention away from that Scam and doesn't even know if it still in the market let a lone to know whether it's pumping or not .
This price increase is basically to lure new investors in to buy their shit coin FTT so they can dump on the new investors that doesn't know the situation on ground with FTX.

Talking about 5 Billion , How many people would they give the money and how manu will stay . The deed is done already and no matter what they do trying to bring back confidence of victim investors, it can't be gained back.

milewilda

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Quote from: AmoreJaz on January 15, 2023, 03:40:53 PM

Quote from: dbshck on January 15, 2023, 03:27:47 PM

Yeah it's so irrational. I'm also confused about the fact that FTT still has any value and is actively traded. It's probably just a scam pump and people are so desperate to speculate on anything.

The $5 billion probably won't even be enough to cover all customers/creditors deposits, let alone FTX investors and FTT holders. Additionally, I don't believe FTT holders are entitled to anything from the bankruptcy process since it doesn't represent FTX equity.

high likely that it is a scam pump, trying to lure naive buyers to buy their tokens. hopefully, people should not only think twice buying FTT but try contemplating what is the reason why it will have a future? the news of possibly recovering $5B is just a smokescreen. we don't know how valid is the claim and if they can indeed recover it. there's more to this than meets the eye. don't trust easily about their claims. as long as they are not returning the lost funds to its appropriate stakeholders, just observe and don't buy the fomo. or are you really trusting one more time this platform?

Whether we do like it or not on which there would really be those people or investors who would really love to burn up some money or simply taking up risks on dealing up something which had been highly frowned upon
due to those known big issues which we could really say that it isnt really that worth anymore on touching up a certain coin even with a 10-ft pole but surprisingly there are really still ones who do love to gamble out.
Whether this one is a fake pump or not but most likely it is which there are people who do really likes to play.Its true that those amounts been mentioned arent enough on covering up the entire hole
on what FTX did into its investors/users which is something that you can take it back specially the trust that had been broken.

blockman

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Also the entire market has recovered and that's most likely about the news of FTX's recovery. People were speculating that the market's sudden recovery is all about Miss El Salvador's exposure of bitcoin logo, maybe if there's a 100% that's been influenced by the price and with that reasoning, it could be just around 5%-10% IMHO. But the entire recovery is dealt due to the reason that's been said by Ultegra.

ShowOff

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Even in the last 24 hours the price of FTT has increased by more than 40% where the trading volume also increased to $167M BUSD in 24 hours. I don't know if this will change people's perspective on FTX, but things haven't paid off for whoever it is. There have been a lot of downsides for FTX investors so far and perhaps pump like this is just the start of their other failures in the future.

I was very hesitant to even touch it in a trade, even if I had $100 I would not gamble that much risk.

rhomelmabini

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The main volume was at Binance but there are other CEXs that contribute too like Kucoin, Bitvavo, Gate, and among other CEXs. Are these whales hoping they can sell even at breakeven when the price was still hovering at $20 before it dumps? I wonder if it ever gets to that point even if it became solvent again, we may never know if J. Ray III will make it happen but hoping those who affected by SBF shitshow will be the one to reap it.

Bitcoin_Arena

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Nothing new. it's just one of those expected pumps and dumps that happen for no reason, especially for coins/token that had a recent dump for any bad reasons. If you followed LUNA classic's price after the LUNA crash (I did), you will clearly see a pattern in market manipulation.

The recent FTT price rise is even nothing, LUNA classic pumped over 700% for no reason even when everyone knew LUNA Classic was done and then dumped right back afterwards.

Wind_FURY

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Quote from: MB boss on January 15, 2023, 02:37:17 PM

Anyone know why FTT price started to rise just now?

I'm searching on google but not found any news, not even found on any Twitter from any person related to case of ftx.

I'm asking here to know about the reason. Thanks

It's very simple. In my opinion, the most probable reason is merely always Bitcoin. Bitcoin is the Alpha to all of the other coins' Beta. Many shitcoins surge when Bitcoin surges, and many of them crash when Bitcoin crashes. It's very rare to see an altcoin/shitcoin that surges while Bitcoin is crashing, BUT it's not very rare to see Bitcoin surge while many altcoins/shitcoins are crashing. Cool

EarnOnVictor

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The answer the OP seeks is not far-fetched, I knew a thing like this would happen, so I'm not surprised at all. If a company is dead is different from a company that goes insolvent, FTX did not die, it only went insolvent, and the change of management is proof of that. No company that is dead will have its CEO changed (From Sam Bankman-Fried to John J. Ray III).

Aside from that, there have been a lot of internal reforms within the company's activities, and I believe that more experienced hands would have been employed. This is in addition that there are some branches of the company that was not affected by the unfortunate incident of insolvency, and as they are doing well, everything would be counting positively for FTX and FTT.

And the last good news I received a while ago indicates that FTX is engaging in partnership with other companies, this would surely strengthen the company over time. And with the CNBC news on withdrawing hope for FTX Japan customers by mid-February is another reason among many others that could cheer FTT market price.

Source: Hope of withdrawal for FTX customers

Ultegra134

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Quote from: mk4 on January 16, 2023, 01:07:26 AM

Quote from: Ultegra134 on January 15, 2023, 02:47:52 PM

I'm certainly not the most qualified person to answer your question but I recently came across an article claiming that the FTX exchange was able to recover 5 billion dollars in assets (including other cryptocurrencies, cash, and other liquid assets) in an effort to repay its customers, which could possibly justify the recovery FTT is marking.

Source: https://cryptopotato.com/ftx-locates-5-billion-in-assets-attorney-says-report/

Pretty much this. Some people on Twitter are speculating that there's a good chance that FTX ends up being solvent after all after selling the shares of FTX Ventures(Robinhood, etc). And add the fact that FTT is currently very illiquid — you can easily get pumps such as this.

That's right, the state of the FTT coin is actually showing some similarities with Terra Luna and USTC, which went through a great number of pumps and dumps that, if you took advantage of them, you could potentially earn a lot of money. We're talking about 10 times within a day. I remember seeing USTC at $0.005, and the next day it was $0.055 and dumped shortly after. If you supposedly had invested $1,000, you'd receive more than $5,000 in less than a day. That's a great yield but a pure gamble; it's extremely risky and nerve-racking.

mk4

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Quote from: Ultegra134 on January 15, 2023, 02:47:52 PM

I'm certainly not the most qualified person to answer your question but I recently came across an article claiming that the FTX exchange was able to recover 5 billion dollars in assets (including other cryptocurrencies, cash, and other liquid assets) in an effort to repay its customers, which could possibly justify the recovery FTT is marking.

Source: https://cryptopotato.com/ftx-locates-5-billion-in-assets-attorney-says-report/

Pretty much this. Some people on Twitter are speculating that there's a good chance that FTX ends up being solvent after all after selling the shares of FTX Ventures(Robinhood, etc). And add the fact that FTT is currently very illiquid — you can easily get pumps such as this.

cryptoaddictchie

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Certainly some whales are pushing the news of that $5Billion recovery of ftx as a factor for a market uproar but honestly we knew that amount is not enough to recover its position just like that. There are plenty of funds need to acquire to bring back everything and Sam knew it would be not that easy. Retailers are just simply trying to ride this pump as could be a good profits for them and the whales are simply just trying to make a volatility out of this.

AmoreJaz

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Quote from: dbshck on January 15, 2023, 03:27:47 PM

Yeah it's so irrational. I'm also confused about the fact that FTT still has any value and is actively traded. It's probably just a scam pump and people are so desperate to speculate on anything.

The $5 billion probably won't even be enough to cover all customers/creditors deposits, let alone FTX investors and FTT holders. Additionally, I don't believe FTT holders are entitled to anything from the bankruptcy process since it doesn't represent FTX equity.

high likely that it is a scam pump, trying to lure naive buyers to buy their tokens. hopefully, people should not only think twice buying FTT but try contemplating what is the reason why it will have a future? the news of possibly recovering $5B is just a smokescreen. we don't know how valid is the claim and if they can indeed recover it. there's more to this than meets the eye. don't trust easily about their claims. as long as they are not returning the lost funds to its appropriate stakeholders, just observe and don't buy the fomo. or are you really trusting one more time this platform?

dbshck

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Yeah it's so irrational. I'm also confused about the fact that FTT still has any value and is actively traded. It's probably just a scam pump and people are so desperate to speculate on anything.

The $5 billion probably won't even be enough to cover all customers/creditors deposits, let alone FTX investors and FTT holders. Additionally, I don't believe FTT holders are entitled to anything from the bankruptcy process since it doesn't represent FTX equity.

Ultegra134

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I'm certainly not the most qualified person to answer your question but I recently came across an article claiming that the FTX exchange was able to recover 5 billion dollars in assets (including other cryptocurrencies, cash, and other liquid assets) in an effort to repay its customers, which could possibly justify the recovery FTT is marking.

Source: https://cryptopotato.com/ftx-locates-5-billion-in-assets-attorney-says-report/

MB boss

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Anyone know why FTT price started to rise just now?

I'm searching on google but not found any news, not even found on any Twitter from any person related to case of ftx.

I'm asking here to know about the reason. Thanks

Topic: Anyone know why FTT price started to rise just now? - page 3. (Read 413 times)