FTT 24-hour volatility hits 52.9%: Contract deployer unlocks supply, triggering speculative rebound and subsequent pullback

Volatility Brief

In the past 24 hours, the price of FTT rebounded from a low of $0.2885–0.2901 to a high of $0.4192–0.441, currently quoted at $0.355–0.3596, with a fluctuation range of 52.9% and a 24-hour gain of approximately 22–23%. Trading volume significantly expanded to $17.79–21.47 million, a 381–389% increase from the previous period, indicating heightened market activity.

Analysis of the Cause of the Anomaly

- The FTX Token contract deployer transferred the entire locked FTT supply into circulation (on-chain transaction hash: 0x87fa620c0302047bee0713f1c128dfa59d7fc4a3466f876be18fda3a3f19bf2c), increasing circulating supply, which directly triggered short-term speculative trading and price volatility.

Market View and Outlook

The community sentiment is generally optimistic, with CoinMarketCap polls showing 66% bullish sentiment. The discussion focus is on a potential move towards $0.50 after re-testing the $0.33 support. However, the mainstream view emphasizes that FTT has no real utility amid FTX’s bankruptcy liquidation and may face further auction pressure and high volatility risk, so caution is advised.