322.6K @wiseadvicesumit 🚨 $FTT IS DUMPING HARD!
After Reuters reported that Sam Bankman-Fried lost his bid to overturn his fraud conviction and 25-year prison sentence.
A reminder that even years after the FTX collapse, SBF headlines can still move the token. https://t.co/SHwrNxnPDP
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90.1K @blocknewsdotcom JUST IN🚨: Sam Bankman-Fried has lost his appeal to overturn his fraud conviction and 25-year prison sentence, according to Reuters. https://t.co/n8KxOKsODr
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2.4K @xwinfinancejp FTT surged about 70% on June 8, reaching as high as $0.406.
However, according to CryptoOnchain, this rise is more likely caused by a sudden spike in trading activity rather than a sustained expansion of demand.
The number of trades in one day jumped to roughly 12 times the normal level, and withdrawals from Binance expanded to over 30 times in a single day. Binance's net flow also turned sharply negative.
While the price increase may look bullish at first glance, it is important to verify what is happening behind the scenes.
Short‑term spikes attract attention, but what truly matters is whether there is genuine demand supporting the rise.
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