Thursday, 13 June 2024

Crypto News

FTT price prediction amid FTX’s repayment proposal as new hybrid exchange emerges

FTT price prediction amid FTX’s repayment proposal as new hybrid exchange emerges

  • FTX Exchange bankruptcy and customer claims turmoil.
  • FTT’s price rollercoaster: bullish momentum, bearish setbacks, technical signals.
  • Pullix emerges as a DeFi alternative: PLX token’s Trade-to-Earn model.

A recent court filing has revealed that FTX is seeking approval to repay customer claims in US dollars, sparking debates among creditors. Meanwhile, FTT’s unpredictable journey adds intrigue to the bankrupt crypto exchange.

Amid this chaos, a hybrid cryptocurrency exchange Pullix is attracting crypto enthusiasts with its ongoing PLX token presale.

FTX Token’s rollercoaster ride

The FTX Token (FTT) has embarked on a rollercoaster ride in recent months, characterized by volatility and uncertainty. After a brief consolidation phase, the token showcased resilience by breaking out of its range, resulting in a notable 60% surge. However, the bullish momentum faced a setback as the price encountered resistance at $6 and succumbed to a bearish influence.

FTX Token price chart 

Technical indicators, such as the Moving Average Convergence Divergence (MACD), depict ongoing price action, signalling a potential continuation of market fluctuations. The looming possibility of a Death Cross, as indicated by the Cross EMA 50/200 Day, and the resistance of FTX’s proposed repayment plan adds an element of caution for investors navigating the FTT landscape.

FTX bankruptcy drama unfolds: customer claims

Amid the FTT’s price turmoil, the FTX exchange is grappling with bankruptcy proceedings, prompting scrutiny from creditors. A recent court filing reveals FTX’s controversial proposal to appraise customer claims in US dollars, based on cryptocurrency prices as of the bankruptcy date, November 11, 2022. However, creditors argue that the proposed values significantly undervalue their digital assets, igniting a legal battle over the valuation of crypto claims.

The FTX 2.0 Coalition, representing a group of creditors, urges affected customers to contest the undervalued compensation plan. The court’s decision, anticipated by the January 11 deadline for filing objections, will significantly impact the course of FTX’s legal proceedings and set precedents for crypto-related bankruptcy cases.

FTX Token (FTT) price prediction

As FTX token holders navigate the uncertainties, analysts provide a glimpse into potential price scenarios for FTT as 2023…

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