FTT is bearish again today after dropping by 10% in the last 24 hours. However, the current drop is a reversal of the token’s significant gains after the former CEO of the exchange, Sam Bankman-Fried, tweeted about reviving the FTX exchange by issuing a new FTT token.
FTT price reverses after a 20% gain
The FTT token is currently on a sharp reversal, but it is still up by more than 23% over the past week. In the last 24 hours, FTT has reported trading volumes of more than $6 million, according to CoinGecko, with the token trading between $1.58 and $1.82, showing substantial volatility during this time.
However, despite the recent gains, FTT is yet to recover from the collapse of the FTX exchange, given that the token is down 96% year-to-date, making it one of the worst performers in the market during this time.
The Relative Strength Index for FTT currently stands at 46, indicating some neutrality between the buyers and the sellers. However, the sellers seem to have the upper hand, as the token shows signs of a sharp reversal.
FTT gains amid rumors of FTX resurrection
FTT has been showing signs of gaining amid rumors of a possible FTX resurrection. The rumors started on crypto Twitter after Ran Neunber pitched an idea to re-establish the FTX exchange and issue a new FTT to help raise funds and pay back the creditors.
Bankman-Fried responded to the idea by saying that he hoped that the teams that were currently in place would explore this option. Bankman-Fried has remained active on Twitter since the collapse of FTX. He also recently agreed to testify before US legislatures on the FTX bankruptcy.
Two altcoin alternatives to buy today
As the FTT token makes a sharp bearish reversal, crypto investors are looking for the next tokens they can buy for 10x gains. Dash 2 Trade and IMPT have robust fundamentals that could see the two coins rallying to new highs.
Dash 2 Trade
Dash 2 Trade is a crypto trading intelligence platform that seeks to equip new and experienced crypto investors with the best tools and features to help them stay ahead of the market. The beta version of the Dash 2 Trade platform will be launched in Q1 2022.
The Dash 2 Trade presale is currently in the last stage, and it is selling out fast. The presale has already raised more than $9.32 million, and it will end after raising $13.4 million.
IMPT
The other presale that is currently going ballistic is the IMPT presale. In just 72 hours, more than $2.5 million was raised during the presale. The presale has raised $17.5 million, and only one day is left before the presale closes.
The IMPT presale will end on December 11, and the token will be listed on exchanges on December 14. The team has confirmed that the token will be listed on LBank, Changelly, and Uniswap on December 14.
Related
- Where to Buy FTX Token (FTT) – Beginner’s Guide
- FTT Price Prediction – Here’s Why You Shouldn’t Try to Catch This falling Knife
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