FTX Token (FTT) Triggers Short Squeeze With 40% Surge – Bitcoin (BTC/USD), Ethereum (ETH/USD), FTX Toke – Benzinga

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After weeks of stagnation, the crypto market roared again to life on Monday as cash with smaller market capitalizations outperformed bigger ones like Bitcoin BTC/USD and Ethereum ETH/USD. What Occurred: Among the many greatest winners was FTT FTT/USD, the token of the Sam Bankman-Fried-founded crypto change whose spectacular collapse in November despatched its value tumbling, however noticed a monumental 40% improve up to now 24 hours. On the time of writing, FTT was buying and selling at $1.30, nonetheless down 96% over the previous 12 months.See Extra: Best Crypto Day Trading StrategiesOver $245 million briefly positions had been liquidated within the final 24 hours, in line with Coinglass knowledge. This important transfer caught many merchants off-guard and signifies that some betting on a value fall took an enormous hit.The sentiment amongst crypto buyers improved on Monday as BTC stored above the important thing $17,000 degree.Serum SRM/USD, the native token of the Solana SOL/USD primarily based decentralized change rendered defunct following the collapse of Alameda Analysis and FTX, surged 12%.Value Motion: BTC was buying and selling at $17,191, down 0.17% within the final 24 hours, according to Benzinga Pro.Learn Subsequent: Bitcoin, Ethereum, Dogecoin Rise: Analyst Says This ‘ETH Killer’ Still Has A Chance If It Can Survive ‘Dark Period’ 

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