FTT price jumps 8% as Binance announces FTT/USDT trading pair
The move comes ten months after Binance removed FTX’s token from its platform, except for the FTT/BUSD trading pair.
Cryptocurrency exchange Binance will re-open FTX’s token FTT for trades on Sept. 22, 2023 (08:00 UTC).
According to a press release on Sept. 21, the token will be available for trading in the FTT/USDT pair. Binance didn’t explain the reason behind the move but noted that it would also remove the FTT/BUSD trading pair.
In addition to FTT, the exchange will list the following pairs: ARK/USDT, CREAM/USDT, GFT/USDT, IQ/USDT and USDT/VAI for spot trading.
On Sept. 29, 2023, (03:00 UTC), Binance will also remove and cease trading on the ARK/BUSD, CREAM/BUSD, GFT/BUSD, IQ/BUSD, and BUSD/VAI trading pairs.
Amid the news, FTT price gained 8%, reaching the $1.1 mark, according to data from CoinMarketCap. However, the token dropped to $1.06 shortly after. As of press time, FTT is trading at $1.03, while its market capitalization stands at around $338.8 million.
Binance ceased trading with FTT-related pairs on Nov. 15, 2022 amid the unfolding drama related to the now-bankrupt crypto exchange FTX.
In that same month, Binance founder Changpeng Zhao said on X that he had decided to sell all of the exchange’s reserves in FTT tokens, worth about $529 million.
