Digital assets continued to underperform amidst global economic uncertainties.
The downside escalated over the past 24 hours as Bitcoin plunged to $90K.
While altcoins suffered the most, recording double-digit losses on their daily charts, FTX’s FTT grabbed attention with wild movements.
FTT soared from the lows of $1.5515 to $2.117, a 36% price increase within an hour.
Sam Bankman-Fried recent social media posts sparked the momentary surge.
SBF returned to X for the first time in more than two years.
The former FTX CEO is serving hi 25-year sentence for several charges associated with money laundering and fraud following the exchange’s collapse in late 2022.
FTT price moves on SBF’s social media return
The native coin reacted to Sam Bankman-Fried’s recent X posts with wild volatility.
It suddenly surged to surpass $2 before plunging to $1.75 at press time.
FTT’s performance demonstrates how cryptocurrencies are sensitive to social media developments, especially from influential entities.
Sam Bankman-Fried attracted the crypto community with his first X post since the 25-year sentencing.
The development catalyzed the swift FTT price uptick before broad market sentiment attacked to erase the gains.
Cryptocurrencies are inherently volatile, and SBF’s incident confirms how sentiments influence price movements.
Meanwhile, FTX retreated to $1.75, underscoring the danger of interacting with such price actions.
SBF back on social media: what is he up to?
The former FTX CEO commented on his experiences in firing employees. He wrote:
Firing people is one of the hardest things to do in the world. It sucks for everyone involved.
Meanwhile, SBF’s activity on social media has sparked mixed reactions from the cryptocurrency community.
For instance, CEHV founder Adam Cochran trusts SBF’s posts are a part of seeking pardon.
So either: 1) Tweeting from jail while trying to get a pardon – in which case I hope they throw the book at him more. 2) Got a pardon because Trump is for sale (in which case please let me know the price cause I’ll need one after I punch this bitch in the face) Or 3) Hacked…
5:14 AM · Feb 25, 2025
Some believe hackers have accessed Sam Bankman-Fried’s X account.
The crypto community on X has been flagging fraudulent deals.
For instance, hip-hop star Kanye West faces scrutiny amid plans to launch his YZY tokens.
Experts allege that Ye has sold or rented his account to serial scammers.
Meanwhile, SBF’s family has attempted to secure a pardon from Donald Trump.
These developments are happening as the bankruptcy exchange compensates its creditors.
FTT price prediction
The native coin trades at $1.75, displaying significant volatility amid SBF-driven recoveries.
Chart by Coinmarketcap
Nevertheless, FTT’s price actions reflect the prevailing bearishness in the broad cryptocurrency sphere.
Despite its temporary upswing, FTT price remains massively lower from the $85 ATHs.
The altcoin’s performance demands caution as FTT’s long-term trajectory depends on regulatory outcomes.
Moreover, FTT has lacked utility since FTX’s collapse, making its future uncertain as investors migrate to assets with real-world use cases.
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