FTT Breaks $1 Support for the First Time Since FTX Collapsed, Token Struggles With Dwindling Trade Volume

Despite FTX’s collapse last month, the trading platform’s crypto token FTT had managed to not plummet all the way down to zero, and surprisingly it hovered below the $2 per unit region after Nov. 12, 2022. For 38 days FTT remained above the $1 per unit area up until Dec. 19, as the token suddenly crashed below the $1 region during the mid-afternoon trading sessions, slipping to a low of $0.89 per FTT at 2:30 pm. (hora del Este).

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Bankrupt FTX’s Exchange Token FTT Drops Below the $1 Price Range

Ftx token (FTT), the crypto exchange ERC20 coin tied to the now-defunct exchange, FTX, broke below the $1 support line on Monday, Dec. 19, 2022. Interestingly, unlike the Terra collapse and the native token LUNA dive bombing to zero, FTT fell from $25.78 per coin on Nov. 5, 2022, to roughly $1.59 per unit on Nov. 14, three days after FTX filed for bankruptcy protection.

FTT Breaks $1 Support for the First Time Since FTX Collapsed, Token Struggles With Dwindling Trade Volume
FTT crashed below the $1 range on Monday, Dec. 19, 2022, and FTT has remained below that price since the support broke.

FTT tapped $1.92 per coin the following day on Nov. 15, and it would not see that price height again after that point. For 38 consecutive days since Nov. 12, FTT has been below $2 and above the $1 rango, and it tapped a high of $1.88 per coin on Dec. 9. 11 days later, FTT markets are struggling and for the first time since the token was launched, it reached its all-time low Dec. 19.

The exchange token sunk to $0.894 per unit at around 2:30 pm. (hora del Este) on Monday afternoon. El martes, en el momento de escribir, FTT is down 8.6% contra los estados unidos. dólar. While FTT’s price remains below $1, a myriad of crypto assets on Tuesday have seen gains and FTT has not. FTT’s market cap rank is not applicable because the project’s contract deployer unlocked the locked FTT tokens into circulation last month.

Coin market cap aggregation sites like coingecko.com do not rank the crypto asset’s cap among the thousands of other crypto assets listed. It is assumed there’s a total supply of 328,895,112 FTT tokens in the wild today and during the last 24 horas, FTT has seen $7.26 million in global trade volume.

FTT trade volumes have dwindled a great deal since FTX’s collapse and today the most active FTT trading is taking place on Binance, Kucoin, and Sushiswap. While FTT has broken below the $1 apoyo, the crypto asset has remained consolidated just below that region at prices between $0.89 y $0.98 por unidad.

Etiquetas en esta historia
alameda, Investigación de Alameda, monedas alternativas, Binance, Concentration, Exchange Token, Fork, FTT, FTT Below $1, FTT Crash, FTT Market Crash, FTT Price Dump, FTT slides, FTT Supply, FTT whales, FTX Token, FTX’s collapse, IEO, KuCoin, LUNA, Sam Bankman-frito, Sam Bankman-frito (SBF), sbf, Sushiswap, Terra collapse, tokenomics, whale concentration

What do you think about the now-defunct FTX’s exchange token FTT and its recent market performance? Háganos saber lo que piensa sobre este tema en la sección de comentarios a continuación..

jamie redman

Jamie Redman es el líder de noticias en Bitcoin-Tidings.com News y un periodista de tecnología financiera que vive en Florida.. Redman ha sido un miembro activo de la comunidad de criptomonedas desde 2011. Él tiene una pasión por Bitcoin., código fuente abierto, y aplicaciones descentralizadas. Desde septiembre 2015, Redman ha escrito más de 6,000 artículos para Bitcoin-Tidings.com Noticias sobre los protocolos disruptivos que surgen hoy.




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