The cryptocurrency showed the landing on Friday as Bitcoin lost more than 2 % the day before to 105,701 dollars at the time of the press.
While Altcoins such as Dogecoin, Cardano and SUI reflected the increasing mood with significant declines in prices, FTT remained in the lights as Excination FTX, which ended in distributing more than $ 5 billion to creditors today.
Just in: FTX to start distributing more than $ 5 billion in Stablecoins for creditors today, with expectation that the process will start at about 9:00 am.
The original symbol was opened today with a bullish memo, as it raised from $ 1.2196 to a peak 24 -hour at 1.3074 dollars.
FTT tested a sign of $ 1.30 several times in mid -May.
Thus, it has formed a double preparation, which indicates $ 1.30 -1.35 dollars as a decisive resistance.
The bulls failed to break the obstacle again, and the FTT recovered to hover at $ 1.22 during this post.
Its trading volume decreased by almost 3 % over the past 24 hours, indicating a decrease in trading interest in the original FTX.
A new dawn for FTX and its creditors
The bankruptcy exchange enters a decisive stage in the recovery process.
FTX will start compensation for its Stablecoins value of more than $ 5 billion today, May 30.
The payment is among the highest compensation in the date of encryption and will target institutional investors, retail users and creditors who incurred significant losses after the collapse of the FTX Empire in November 2022.
The $ 5 billion version has paid attention as in the best encryption events this week.
First of all, it brings a sense of closure and relief, even if the future of the exchange and its original symbol remains unclear.
Moreover, the massive payment of the investor’s behavior, exchange flows and liquidity in the short term.
Ftt price outlook
The original FTX’s original symbol trades at $ 1.22, as price performance reflects uncertainty.
Altcoin expects to rise volatility amid creditors’ payments.
Meanwhile, the bears appear to dominate short -term trends.
Extensive FTT declines may send the support barrier at $ 1.05 – $ 0.95.
This area can attract buyers and run recovery.
However, FTT’s fate depends on how beneficiaries work after receiving their assets.
An immediate sale would inflate the declining ALT expectations, and perhaps open the declining path to $ 0.75.
This would translate into a decrease of approximately 40 % from the current market price.
However, Altcoin can absorb the prevailing landing if individuals choose hunting.
It is possible to overcome the obstacle at $ 1.30 -1.35 dollars, FTT to the last peak at $ 1.50, which will then confirm strong short-term recovers.
Keep in mind that the original assets lack the FTX cases after the FTX collapsed.
Therefore, some creditors may get rid of the assets and stop the entire market.
The upscale track includes multiple challenges for FTT.
Short -age altcoin recovers indicate an invested uncertainty about the FTX and FTT future.
Resistance of post -FTT battles where FTX begins 5 billion dollars for creditors first appeared on Invezz
