- FTX creditors are set to receive $1.6 billion in repayments tomorrow.
- This marks the third major distribution under the bankrupt exchange’s restructuring plan.
- FTT fell below the psychological $1 level after peaking at $1.20 earlier this week.
The collapsed cryptocurrency exchange FTX will distribute roughly $1.6 billion to creditors in the third round of payments scheduled for September 30.
The payment is a notable step in the exchange’s bankruptcy process following its collapse in late 2022.
Tomorrow’s distribution will be the third to occur and is intended for claimants in both priority and non-priority classes who have satisfied all pre-distribution requirements.
FTX’s native token weakened ahead of the sizable payout.
After a muted sell-off over the past 24 hours, FTT was trading around $0.94.
FTT underperformed on Monday while most tokens climbed.
FTT slips below $1
The native token fell beneath the $1 mark as investors prepared for the upcoming disbursements.
FTT’s price typically reacts to developments tied to the defunct exchange.
Although the broader crypto market staged a rebound today, FTT lost the psychological $1 threshold.
It traded near $0.95, with trading volume surging more than 70%, signaling heightened trader activity.
The increased activity may indicate traders positioning for potential selling pressure once redemptions begin.
Price volatility also reflects lingering uncertainty over FTT’s utility and role after FTX’s collapse.
At present, the altcoin has limited utility: without an operating exchange to support it, FTT largely survives on speculation.
Weekly gains remain intact
While bears try to exert control on the daily charts, the weekly timeframe still presents a bullish narrative.
FTT holdings rose by more than 13% over the past seven days.
The recent upward trend follows a sharp rally last week.
On September 24, the token surged nearly 60% in a single day.
This dramatic spike occurred after a brief post from the former FTX CEO Sam Bankman-Fried’s old X account broke a long silence with a simple “gm.”
$FTT jumped nearly 60% after a simple “gm” was posted from SBF’s old X account.
(It wasn’t him – a friend said they were using the account.)Still, that one word was enough to send traders rushing in.
Shows how much this market runs on hype and vibes, not logic. pic.twitter.com/SF8IHaCzul— Master of Crypto (@MasterCryptoHq) September 24, 2025
The single “good morning” message, the first post from that account since earlier this year, was enough to ignite investor enthusiasm.
Following the X post, FTT climbed to a weekly high of $1.20.
That volatile move underlines how sensitive FTT remains to any developments related to FTX or its controversial founder.
Where could FTT go next?
With creditors preparing for upcoming payouts, FTT is positioned for continued volatility.
Technical indicators, however, suggest the token could recover above $1.
Analyst Dark Pro Trader has flagged bullish potential tied to the creditor payments.
He highlighted a 4-hour chart that shows a mix of tentative upside and heightened volatility.
FTT has a key support level around $0.78.
The forthcoming $1.6 billion creditor distribution could create short-term demand for the native token.
If that demand materializes, FTT might target the weekly high near $1.20 next, potentially opening a path to the notable resistance zone at $1.30.
Such a move would represent roughly a 27% increase from FTT’s current market price.