FTX Token’s Remarkable Weekly Rally: Social Media Sparks 24% Surge Amid Founder’s Cryptic Post
FTX Token (FTT) has demonstrated extraordinary market performance over the past week, recording a substantial 24% gain that has captured significant attention across cryptocurrency markets. The rally was primarily triggered by a mysterious 'gm' (good morning) post originating from Sam Bankman-Fried's social media account, despite the former FTX CEO currently being incarcerated. This single post ignited substantial trading activity and market speculation, pushing FTT to reach $0.92 and briefly breach the crucial $0.99 resistance level on September 19th. The token's impressive single-day performance saw a remarkable 21.21% surge, accompanied by dramatically increased trading volumes that reflected heightened investor interest and market participation. Technical indicators currently show the Relative Strength Index (RSI) at 51.83, positioning the token in neutral territory following recent overbought conditions. This development underscores FTT's inherent volatility and the market's continued sensitivity to news and sentiment surrounding its controversial founder. The episode highlights how social media activity, even from individuals facing legal challenges, can significantly impact cryptocurrency prices and trading patterns. Market analysts are closely monitoring whether this momentum can be sustained or if it represents a temporary speculative spike. The situation also raises questions about market maturity and the influence of founder-related news on token valuation, particularly in cases where the original leadership faces legal complications. As the cryptocurrency community digests these developments, FTT's performance continues to serve as a case study in market psychology and the powerful intersection of social media influence with digital asset trading.
FTX Token (FTT) Rallies 24% Weekly Amid Social Media Frenzy
FTX Token surged to $0.92 following a cryptic 'gm' post from Sam Bankman-Fried's account, despite his incarceration. The 24% weekly gain underscores FTT's volatility and market sensitivity to news around its controversial founder.
Trading volume spiked as the token breached the $0.99 resistance level on September 19th, recording a 21.21% single-day jump. The RSI now sits at 51.83, indicating neutral momentum after recent overbought conditions.
Market participants remain divided on the rally's sustainability, with skepticism about the post's authenticity contrasting with speculative trading activity. The event highlights crypto markets' continued reactivity to social media triggers absent fundamental drivers.
Solana Perpetual DEX Pacifica Gains Traction Among Traders
Solana has emerged as the blockchain of choice for perpetual futures decentralized exchanges (DEXs), with Pacifica drawing significant attention. Launched by Constance Wang, former COO of FTX, the platform is sparking discussions about a potential reunion of FTX talent under a decentralized model. Pacifica's early traction stems from its solana infrastructure, strategic marketing, and high-profile connections.
Previously dominated by Jupiter and Drift, Solana's perpetual DEX landscape is now seeing competition from Pacifica. The platform aggressively promotes itself as an on-chain alternative, capitalizing on Solana's speed and low costs. Its rise coincides with growing hype around Solana-based derivatives projects like Hyperliquid and Aster.
Decentralized perpetual futures appeal lies in transparency and reduced counterparty risk—qualities Pacifica emphasizes to position itself as a safer alternative to centralized models like the defunct FTX. The platform's FTX alumni ties add intrigue, though its long-term viability remains untested in Solana's competitive DEX environment.
