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Speculations in the cryptocurrency markets can cause enormous losses, and today we are witnessing one such instance. At the time of writing, the price of FTT Token is speculatively over $3. This is due to the announcement in court records that full payments will be made to creditors.
FTT Token Caution Advised
FTX announced that it would make full payments to customers during its bankruptcy liquidation. It was also declared that the exchange would not be restarted. However, the FTT Token, which is essentially useless and has no chance of becoming valuable, is finding buyers at a price around $3. It is likely that the price will suffer double-digit losses once it becomes clear that the FTT Token is worthless in the coming hours or days.
Similarly, speculative gains in futures trading, which whet the appetite of large investors, could lead to price movements reminiscent of the LUNA Coin collapse, with a pattern of a drop, followed by a rapid rise and then another fall.
Investors are expected to be much more cautious with the highly volatile FTT Token in the coming hours. The scenario where a large investor keeps the price above a certain level to liquidate their assets and then suddenly drops it should not be overlooked.
