Santiment report shows FTT outperformed several altcoins despite a crypto market slowdown.
The data tracker report showed the token added over 184% gain to its value over the past week.
The sudden rise came after the SEC gave the green light for a potential FTX relaunch.
Crypto data tracker Santiment, in a Wednesday post on X, listed FTT as one of the altcoins to have added significant gains to their value despite a prevailing slowdown in the market.
Indeed, Santiment noted in the post that FTT has added over an 184% increase in its value in the past week. The performance of the token far outpaces that of other altcoins like Solana and Avalanche, which also saw significant price gains.
The unexpected rise of FTT came after the U.S. Securities and Exchange Commission Chairman Gary Gensler said FTX could restart as a crypto exchange. In response, crypto traders flocked to the token, which served primarily as the native token of the exchange.
However, it bears mentioning that the new FTX management has reiterated that FTT no longer has a utility. Moreover, the bankruptcy committee plans to liquidate the token to settle claims, which made the surge mo…
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