The FTX exchange has been in the limelight since its collapse and so has its native token, FTT.
The speculations around the FTX exchange have also shown its implications on the price of FTT.
As per a recent update, Kraken investor, venture capital firm Tribe Capital hopes to use $250 million to restart the FTX exchange.
After this update, the price of FTT reached as high as $2.265, with approximately 275% increase in trade volume.
CEO John J. Ray III said that he is still trying to uncover and retrieve FTX assets and has tasked a group with exploring the possibility of restarting the international arm of the exchange.
While it’s unclear why traders are still buying and selling a token for a defunct exchange, the token’s high volatility at times like these can possibly help traders earn profits.
It is also likely that FTT might regain strength in case FTX is re-established.