FTX Token $FTT is Up By +100% in Last 30 Days | Know Why |

FTX Token $FTT is Up By +100% in Last 30 Days | Know Why |

By Nilesh Hembade 12-July-2023 22:30 PM IST

FTX Token FTT is Up By +100 in Last 30 Days Know Why

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 Introduction:

FTX Token ($FTT), the native cryptocurrency of the FTX exchange, has experienced a remarkable surge of +100% in value over the past 30 days. This surge can be attributed to a series of positive developments, including recent announcements and actions by the FTX team. Here, we will look into the factors contributing to the bullish sentiment surrounding $FTT and highlight some key events that have played a significant role in its recent price increase.

In the current market, FTX Token is trading bullishly at $1.62, reflecting a notable gain of +15.88% in the past 24 hours. The market capitalization of FTX Token stands at an impressive $88 million, further showcasing its growth and potential.

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Positive Vibes on FTX Ecosystem

The FTX ecosystem has been buzzing with positive vibes recently, buoyed by several noteworthy announcements. One such announcement was the launch of the Claim website on July 11th. This platform enables users affected by the bankruptcy of FTX or its subsidiaries to submit their claims efficiently. 

The claims process involves five crucial checks that must be fulfilled to ensure the validity of each claim. Users can access the claim portal through the claims.ftx.com platform.

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Technical Difficulties with the Claim Portal

Unfortunately, at the time of writing, the claims.ftx.com platform is experiencing technical difficulties, preventing users from accessing the claim portal. While the reason behind the platform’s inaccessibility remains unknown, the FTX team is likely working diligently to resolve the issue and restore functionality as soon as possible. 

Despite this temporary setback, the launch of the claim portal signals FTX’s commitment to addressing any issues resulting from the bankruptcy situation.

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FTX CEO Initiates FTX2.0 Exchange Restart

Another significant development contributing to the positive sentiment surrounding $FTT is the announcement that FTX CEO John Ray III has initiated the restart of FTX2.0 exchange. This move by the CEO indicates a strategic effort to enhance and optimize the FTX trading platform, which has had a direct impact on the increased value of $FTT. 

The restart of FTX2.0 exchange announcement has been well-received by the market and has further fueled the bullish sentiment surrounding $FTT.

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FAQ

The FTX Claim Portal is a platform accessible via claims.ftx.com that allows former FTX Exchange users to access their FTX account information, obtain historical information, and submit an electronic proof of claim in the FTX Chapter 11 proceedings.

You can access the FTX Claim Portal by visiting claims.ftx.com and navigating through the user interface, which is designed to be user-friendly and easy to navigate.

On the FTX Claim Portal, you can access your FTX account information, view historical data, and submit an electronic proof of claim. This portal is specifically designed for users who had their assets locked on the FTX Exchange when it went bankrupt in November of the previous year.

The percentage of claims that will be made available to each user is uncertain at this time. However, the availability of the claim portal has brought renewed optimism to users who had their assets locked on the exchange.

  1. Account Information Authentication: Users need to provide accurate and authentic account information for verification purposes.
  2. Account Information Confirmation of Balance: Users must confirm their account balances to ensure accuracy.
  3. Submission of Electronic Proof of Claim: If necessary, users may need to submit electronic proof of claim with the FTX Debtors’ claims and noticing agent (Kroll Restructuring Administration).
  4. KYC Authentication: Users will need to undergo Know Your Customer (KYC) authentication to verify their identity.
  5. Account Balance Review: The account balance as of November 11 will be reviewed to determine the claim amount.

 The deadline for submitting claims will be determined by the FTX Chapter 11 proceedings. It is important to stay updated through official announcements and notifications regarding claim submission deadlines.

For any issues or questions related to the FTX Claim Portal, it is recommended to reach out to the FTX Debtors’ claims and noticing agent (Kroll Restructuring Administration) for assistance. They will be able to provide guidance and support regarding the claim submission process.

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Conclusion

FTX Token ($FTT) has experienced an impressive surge of +100% in the last 30 days, largely fueled by recent positive developments within the FTX ecosystem. The launch of the claim portal offers affected users a means to submit their claims efficiently, despite the temporary technical difficulties experienced by the claims.ftx.com platform. 

Additionally, the restart of FTX2.0 exchange by FTX CEO John Ray III has injected further optimism into the market and played a crucial role in the recent price increase of $FTT. As the FTX ecosystem continues to evolve and introduce new initiatives, $FTT remains an intriguing token to watch closely in the coming days.

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