Schlagwort: crypto business

• A single “gm” post on X from an account linked to SBF drove a 60% FTT price surge, highlighting the market’s volatility.
• FTX’s $1.6 billion creditor payout looms, potentially impacting FTT’s value as liquidation risks grow.
• Despite no utility, FTT’s rally reflects lingering investor fascination with FTX’s legacy.

FTX Token (FTT), the native token of the now-defunct FTX exchange, experienced a dramatic 60% price increase within hours early Wednesday.

The token surged after Sam Bankman-Fried’s (SBF) X account put a post.

SBF is the former CEO of FTX currently in jail.

The surge to an intraday peak of $1.21 also came as FTX Recovery Trust sued Genesis Digital for $1.15 billion.

FTX token soars amid SBF tweet

FTT price hovered over $1 on Monday and Tuesday, mirroring crypto turbulence this week.

However, it exploded well above the psychological level on Wednesday.

The catalyst for the sharp price movement appears to be a two-letter post “gm,” shorthand for “good morning”, that Sam Bankman-Fried posted on September 24, 2025.

SBF, jailed for his role in the collapse of FTX, looks to be a massive shadow looming large across the market as his post quickly garnered nearly 4 million views.

The FTT price jumped as a frenzied speculative trend picked up momentum.

Some market participants interpreted it as a signal of potential developments in FTX’s bankruptcy process, while others viewed it as a nostalgic nod to SBF’s influence in the crypto space.

A 60% spike to $1.21 separated FTT from the overall picture of a broader market downturn.

Prices pared gains after the X account posted again a few hours later.

[No, SBF is not posting himself from prison. I’m a friend posting on his behalf.]

— SBF (@SBF_FTX) September 24, 2025

Despite this, FTT price remained near $1 and was up 19% in the past 24 hours at the time of writing.

Notably, the price surge also came as FTX Trust sued Bitcoin mining firm Genesis Digital over a $1.15  billion asset investment that SBF made.

In a filing submitted Monday to the US Bankruptcy Court for the District of Delaware, the FTX Recovery Trust launched a complaint against crypto mining firm Genesis Digital Assets (GDA), its affiliates, and two of its co-founders.

The action is part of efforts to reclaim $1.15 billion in what it described as “commingled and misappropriated funds.”

The filing alleges that the funds are directly connected to former FTX chief Sam Bankman-Fried’s “fraud on customers and other creditors” during 2021 and 2022.

What’s the FTT price outlook?

FTT’s price currently stands at $0.9704, with a 24-hour trading volume of approximately $17.64 million.

The token’s market capitalization is reported at $272.9 million, reflecting a circulating supply of 328.89 million FTT.

The token’s long-term viability remains questionable, as it no longer serves a functional role and may face liquidation to settle creditor claims in FTX’s ongoing bankruptcy proceedings, set to distribute $1.6 billion.

FTT could breach $1.21 again and target $2 amid overall volatile trajectory for altcoins.

But the token’s historical high of $85.02 contrasts starkly with its current levels.

The FTX Token is down 98.8% since its all-time peak, with the bearish outlook tied to its turbulent past.

The post FTX Token soars after jailed former CEO Bankman-Fried’s post on X appeared first on CoinJournal.

• Pi Network price hit an all-time low of $0.22 as cryptocurrencies struggled with profit-taking.
• However, bulls are looking at a potential buy-the-dip opportunity and could push for a rebound to $0.50.
• Technical indicators offer mixed signals, highlighting the indecisive market.

Pi Network extended its declines on Tuesday as the price crashed to a new all-time low of $0.22.

However, with bulls notching a small bounce on the day, it’s likely the profit-taking could allow for a notable buy-the-dip opportunity for bulls.

A turbulent few days for crypto nonetheless means market mood has flipped slightly bearish, but could PI price bounce amid potential broader market tailwinds in the coming months?

Pi price plunges to record low

PI is trading at around $0.28, up by nearly 4% in the past 24 hours.

While this marks a slight bounce from an all-time low of $0.22, the altcoin remains 20% down in the past week.

The sharp drop witnessed on September 23, 2025, when PI nosedived from highs of $0.36, also adds to the bearish picture that has the token down 90% from its all-time peak of $2.98 reached in February 2025.

Currently, PI price sits below the critical support zone at $0.30.

However, with the price slightly up amid a 16% decrease in daily trading volume, a flip in sentiment may materialise.

Notably, Pi Network has faced downward pressure amid a recent token unlock that saw 160 million PI tokens enter circulation.

The flooding of the market with additional supply contributed strongly to the price decline.

Macroeconomic pressures also added further pain, with panic selling as risk assets swung, emboldening bears.

But analysts say September doldrums could give way to “Uptober”.

“The tone has shifted from panic to recalibration,” QCP Group noted. “The Fed’s 25 bp insurance cut reopened the easing path, but dots signaled only measured dovishness. Long rates climbed while equities hit fresh highs and gold briefly topped $3.7k.”

Is PI price set for breakout recovery?

The grim short-term outlook also includes PI’s relative strength index near oversold territory.

At 31, the RSI reading suggests a possible short-term recovery is inbound.

RSI on the daily chart, as shown below, is upsloping from the oversold territory, and if buying pressure emerges across the market, a flip in this indicator may signal potential gains to $0.50.

The moving average convergence divergence indicator, however, gives a bearish crossover outlook.

This suggests a decisive upside direction will only materialise if bulls reclaim the key level around $0.30 and see another leg up.

A break above the $0.35 resistance could pave the way for a recovery toward $0.50, though failure to hold current levels may see PI revisit $0.22, potentially opening up a path for more pain for bulls.

Profit-taking and market volatility are the two immediate factors to consider, while whale accumulation and network growth amid broader market gains constitute pointers to the long-term outlook.

The post Pi Network price forecast after PI hits $0.22 all-time low appeared first on CoinJournal.

• Privacy coins like Monero and Dash outperform the broader crypto market.
• Zashi CrossPay enables cross-chain private transactions for shielded ZEC.
• Technical indicators (RSI & MACD) support continued bullish momentum.

While top coins continued to struggle amid ongoing broader market turbulence, the privacy coin Zcash (ZEC) has extended recent gains as the price broke to highs of $55.

Zcash ranked among the standout performers in the 100 largest coins by market cap early Wednesday. With over 10% gains in 24 hours, ZEC is also green on the weekly time frame and well off the lows of $46 reached on Monday.

The altcoins’ uptick aligns with a broader resurgence in privacy-focused digital assets.

Zcash price gains 10% amid surge for privacy coins

On September 23, Zcash’s native token, ZEC, dropped to lows of $48 as bulls struggled with overall sell-off pressure.

However, with key network milestones in place, a focus on privacy coins has seen ZEC bounce sharply with a robust 10% increase over the past 24 hours.

On September 24, bulls have pushed its price to above $55.

This surge follows a notable rally in early May, when ZEC briefly touched the resistance area around $56.

Bulls are looking to retest the key supply zone, and a 21% spike in daily trading volume to beyond $123 million suggests buyers are on top.

Notably, the uptick is part of a larger wave lifting privacy coins across the sector.

The privacy token category, which includes frontrunners like Monero (XMR) and Dash (DASH), has seen gains for XMR, DASH, DCR and ZANO.

According to CoinGecko, privacy coins outperformed the global crypto market in the past 24 hours.

Whereas the global crypto market cap has shrunk below $4 trillion, privacy coins are recording a 4% surge to over $8.2 billion.

Macroeconomic pressures, including geopolitical tensions and heightened regulatory scrutiny on transparent blockchains, have catalysed interest in privacy blockchains.

Zcash’s zk-SNARK technology positions it uniquely, allowing users to opt for shielded transfers that conceal sender, receiver, and amount information.

ZEC price outlook amid Zashi CrossPay feature

Adding fuel to Zcash’s ascent is the recent rollout of the Zashi CrossPay feature, a pivotal upgrade announced by the Electric Coin Company (ECC) on September 16, 2025.

CrossPay extends Zcash’s zero-knowledge proofs to cross-chain payments, allowing holders of shielded ZEC to execute private transactions on external blockchains via Near Intents.

Users can now convert and send ZEC seamlessly to recipients on other networks without exposing metadata or transaction histories, addressing a long-standing barrier in multi-chain ecosystems.

3/ This week, Zashi CrossPay changed the game:

Zashi users can send crypto payments in over 100 @NEARProtocol-supported assets, including stablecoins, BTC, ETH, SOL, and more, without compromising their privacy.https://t.co/AUFqNP6bD9

— Zashi (@zashi_app) September 17, 2025

Zashi, ECC’s self-custodial mobile wallet, serves as the gateway for this functionality.

Built with a privacy-first ethos, it minimizes data leakage and supports features like encrypted memos. The CrossPay rollout transforms Zcash from a siloed privacy tool into a versatile payment layer.

Zcash’s shielded transaction volume has jumped amid this rollout, and future integrations could fortify ZEC’s traction.

Technical indicators bolster the bullish outlook for Zcash’s price. A look at the daily chart shows the Relative Strength Index is above 60, indicating potential for further gains.

The MACD indicator also signals a bullish crossover, with the Zcash price retesting a key level after a technical breakout.

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