Relief is underway after the collapse of the centralized crypto exchange, FTX, in 2022 and the ensuing market dump. A United States court has ordered the bankrupt exchange to pay its customers $16 billion in relief.
Unsurprisingly, FTX (FTT) explodes amid the buzz around repayments. Meanwhile, analysis suggests this inflow could be a bullish catalyst, pushing Solana (SOL) and this viral AI crypto, IntelMarkets (INTL), to new highs.
IntelMarkets (INTL): A Projected 5,500% Rally
IntelMarkets (INTL), the novel AI-DeFi token and new ICO, is on investors’ radars. Its appeal cuts across its intriguing blend of the world’s most bullish narratives—AI and DeFi—and significant growth prospects.
The above contributes to rising demand as it soared past $730,000 in presale. Already earning shouts of 2024’s best presale, it is a new DeFi project to watch out for, especially with the staggering $16 billion inflows into the crypto landscape.
In the second stage of the ICO, a token costs only $0.018. On its way to challenge the dominance of top crypto coins and make its mark, it is tipped for a 5,500% rally after its debut—a promising wave not to miss out on.
Further, its transformation of the 36 billion global crypto trading market via AI integration makes it a strong contender against FTT and Solana (SOL). Its AI-powered smart trading platform promises unprecedented computing power and enterprise-grade AI tools and products. A distinguishing element is its dual-chain functionality, meaning the platform supports and can run on the Ethereum and Solana blockchains.
FTX Token (FTT): 25% Upswing in 24 Hours; Time to Buy or Sell?
FTX Token (FTT) is back. FTT is the native utility token of the derivative trading platform FTX, which launched in 2019 and filed for bankruptcy in 2022. It has been a wild ride for the altcoin since then, which recently broke into crypto’s top 100 following the buzz around creditors' repayment.
The $16 billion repayment plan has boosted confidence in FTT, driving demand and interest. On the monthly charts, investors are wowed by its 60% rally, hitting the $2 mark. Maintaining momentum, the FTT price soared over 25% in the past 24 hours, outperforming most top altcoins.
However, analysts are unsure whether or not this is a dead cat bounce or not. The coming days will determine whether to hold long or short positions. Amidst this, FTT is an altcoin to watch.
Solana (SOL): $16 Billion Inflows to Push it Past $200?
Solana (SOL), a leading DeFi giant, is set to experience huge buying pressure. Besides the “Uptober” craze, FTX’s $16 billion repayments to creditors might spark demand for the Solana coin. Given its solid fundamentals as a DeFi solutions and services provider, it is one of the most sought-after tokens.
Already riding the wave around the Fed’s rate cut in September, SOL is among the month’s top gainers. In the past 30 days, the Solana price skyrocketed by over 13%. An 8% uptick has also been recorded on the weekly charts, trading above $150.
With the coming weeks and months set to be even more explosive, Solana (SOL) is one of the altcoins to keep on the radar. The $16 billion inflow might push it above $200 before the month’s end, positioning it as one of the best cryptos to invest in.
Conclusion
As FTT explodes amid the excitement around FTX’s $16 billion repayments, Solana (SOL) and IntelMarkets (INTL) are other altcoins to watch. SOL is on track for a rally above $200, while INTL, an emerging cryptocurrency, is set for a 5,500% rally after its debut.
