FTT is the official token for the FTX ecosystem. It is intended to serve as collateral for future positions. As a holder, you will get discounts on trading fees, receive OTC rebates and more. FTX is backed by Almeda Research. Almeda Research is a leading company in crypto trading, and also it’s ranked as one of the largest liquidity providers.
Earlier this year, FTX partnered with Miami Heat – an NBA franchise. The partnership terms had Miami Heat’s arena change its name to the FTX Arena (It was formerly The American Airline arena).
The FTX token was created by Gary Wang and Sam Bankman-Fried. Sam worked as a trader at Jane Street Capital from 2014 to 2017, and Gray once worked as a software engineer intern at Facebook.
The token is built on the Ethereum network (ERC-20). It has a current price range of $48.52 to $51.76.
FTT has a daily trading volume of about $231,597,692. It has an all-time high on September 9, 2021, at $84.18, and all-time low of $1.15 on September 6, 2019. FTT has a total supply of 335 Million coins and a circulating supply of. 139,460,202.
FTX Token / TetherUS daily candlestick chart (Source: Tradingview)
From the chart, FTT is showing a sign of partial recovery but the bulls need to do more to get the market climbing again.
Like several other cryptocurrencies, FTT has gone up by over 1000%. Just January, FTT sold for $5.77. Since the start of July, the price of FTT has more than doubled.
Summary
FTT price has gone up by 5759.94% since its previous all-time low. It currently has a market dominance of 0.26% and ranks #32 on CoinMarketCap.
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