Rumors about the reopening of FTX have increased investor interest in FTT, causing the price of the altcoin to nearly tenfold since the beginning of the year. Spot On Chain reported a significant increase in the value of FTT held in the wallets managed by the new administration appointed to oversee the bankruptcy process following a rally last November.
According to findings by Spot On Chain, FTX and Alameda Research hold approximately 267 million FTT in wallet addresses, which corresponds to a value of 1.3 billion dollars at current prices. This marks a considerable increase compared to the rise in the value of FTT assets in wallet addresses from 334 million dollars to 726 million dollars last November.
Based on CoinMarketCap data, FTT is currently trading at $4.92, showing an increase of 0.35% in the last 24 hours. The price of the altcoin has risen by 10.28% over the last 7 days and by 37.96% over the past 30 days.