The struggling FTT token of the famous cryptocurrency exchange FTX is showing signs of recovery today before the $1.2B creditor repayment plan begins. This is the peak moment for this FTX token, whose price has been in a slump, losing nearly 100% of its value since the crash. Now, with repayments, experts anticipate a recovery in the FTT price, but can it hit $6? Let’s discuss.
Reasons Behind Today’s FTX Token Price Rally
Due to the global market recovery, the FTX token price surged 8% today. Notably, the increased investor demand is behind this dead token value surge today, as the trading volume has surged to $35.24M, with the open interest rising 10% to $4.14M. Although the stats had only a minor surge, it indicates building investor interest. Notably, the $1.2B FTX repayments going live this month also influenced this interest.
According to FTX Payout claims reports, in the first round of the repayments, covering $1.2B worth of tokens will be distributed among creditors whose claims are below $50,000 from February end to March beginning, boosting investor confidence in the token.
Can FTT Price Hit $6 Amid $1.2B Creditor Repayments?
This $1.2B distribution is part of the $16B payout, which will take place in 2025, with the initial FTX distribution going live around Donald Trump’s inauguration on January 20. The crypto community has already been enthusiastic about this event, so this FTX news is boosting the hype even higher. The inclusion of these billions’ worth of cryptos back into the crypto market would create a ripple effect under the influence of rising liquidity. Some analysts claim this would trigger the bull’s dominance to begin the bull run.
With a significant boost in the entire market, the FTX token price can witness significant standard recoveries, as this payout will help recover its image. Regardless of the ongoing price performance, crypto analyst Rose sees a long-term bullish outlook for the FTT price.
According to the Rose FTT price prediction, the token is in the accumulation phase, where the buy zone stands at $2.8469. This buying zone is also a strong base for the potential breakout, and a move above this could result in a massive rally toward $4.7186 and $5.7928. As a result, the $1.2B repayment could result in bullishness with investor demand, resulting in a price rally of $6.
What’s In There For You?
FTX’s 8% recovery in today’s market coincides with the exchange’s $1.2B creditor repayment, where investors claiming a maximum of $50,000 will receive their designated cryptos. Notably, the returning investor interest amid the $1.2B FTX payout is leading to today’s FTT price rally. Crypto analysts Rose’s FTX prediction hints at the token price hitting $6 in the most bullish rally. Overall, 2025 has begun with a positive outlook for investors, as the Bitcoin bull run, Trump’s presidency, and the FTX payout could significantly influence the market.
The post FTX Token Jumps 8%: Could $1.2B Creditor Repayments Drive FTT Price to $6? appeared first on CoinGape.
