FTT token, the native of FTX, saw a sudden surge of 45.77% after a ‘GM’ post from the X account of Sam Bankman-Fried, the jailed founder of FTX and Alameda Research.
Following the X post from SBF’s account after a long dormancy, a sudden pump in the trading price has been noted, reaching $1.21.
When writing, the FTX token is exchanging hands at $0.9703 with a current surge of 16.86%, yet at a time in its peak days, the token acquired an ATH of $85.02.
The post from the SBF account pushed the price upwards, helping it break its monthly high, yet after a few hours of the post, another post by the account notes No, SBF is not posting himself from prison. I’m a friend posting on his behalf.
As per Coinglass, the long liquidation in FTT token in the past 24 hours is $4.56k, and overall shorts squeezed are $14.02k. Yet $16.60k of liquidation occurred on HTX and $1.98k on Hyperliquid, with a majority of shorts being squeezed.
SBF’s X post pumped trading volume to the sky
The warning over CoinMarketCap notes that the FTX bankruptcy proceedings are underway. The FTT token no longer has any use and may be liquidated by the estate to pay the creditor.
Soon after the ‘GM’ post, the market capitalization shot up by 16.38% reaching $320.31 million, and the trading volume reached $71.9 million with a massive surge of 747%.
In mid of the week, FTT saw a massive selling pressure with the market cap falling near $265 million on September 23, yet on the current day it was seen reaching near $325 million.
