Serum’s SRM tokens double in price after emergency fork in wake of FTX hack

Serum, a decentralized exchange protocol on the Solana blockchain, saw its SRM tokens soar in digital-asset markets Tuesday, as key backers of the project rallied around an emergency fork in response to the recent hack of FTX exchange.

The serum (SRM) price started soaring around 23:30 UTC Monday, reaching a high of 0.32 USD Tuesday, up from a low of 0.118 USD on Sunday. SRM is currently trading at $0.3561, up 32% after 24 hours.