FTX Token Sees Signs of Recovery as Major Payment Plan Approaches – BitRss

The FTX ($0.00) cryptocurrency exchange’s FTT ($0.00) token is showing signs of recovery today after experiencing nearly a 100% loss in value. This increase precedes the commencement of a $1.2 billion creditor payment plan, marking a critical moment for the FTT price. Experts anticipate a price rebound for FTT alongside these payments.

Reasons Behind the Price Surge

Thanks to a global market recovery, the FTX token price increased by 8% today. The rise in investor demand has triggered this price boost. An increase in trading volume to $35.24 million and a 10% rise in open positions to $4.14 million indicates growing investor interest. The upcoming $1.2 billion FTX payments scheduled for this month have also influenced this interest.

According to FTX’s payment request reports, the initial round of payments involves distributing stablecoins worth $1.2 billion among creditors with claims under $50,000, expected to take place from late February to early March. This situation boosts investor confidence in the token.

Potential for FTT Price to Reach $6

The $1.2 billion distribution is part of a broader $16 billion payment package set for 2025. It is anticipated that the first FTX distribution will coincide with Donald Trump’s presidency, starting on January 20. The