The wacky excesses of the crypto market – and the fear of missing out or FOMO – are making an unlikely comeback. PORTLAND, Oregon - Earlier in November, an image of a pet rock sold for the equivalent of more than US$200,000 (S$268,000) in the non-fungible token (NFT) market.– doubled in just a few weeks.
Even the price of the FTT token, which was created by the FTX exchange and has no real utility, has tripled in the past month on hopes that Sam Bankman-Fried’s exchange will return from the dead. Everywhere you look, there are signs that the wacky excesses of the crypto market – and the fear of missing out or FOMO – are making an unlikely comeback. As expectations of an imminent approval of a spot-bitcoin exchange-traded fund pushes the oldest and biggest cryptocurrency ever higher, the hype has also lifted other boats – even those considered among the least seaworth