FTX Tokens is one of the biggest cryptocurrency derivatives exchanges, initially founded in 2019, and ever since its time on the market, it has grown exponentially in popularity. It shows OTC Trading, options, and even lots of trading.
The native cryptocurrency token, known as the FTX token (FTT), is a utility token that can use to lower trading fees. It can also serve as collateral alongside many other use cases within the platform.
Read through the end, as we will dive deeper into everything you need to know about FTT and the crypto derivatives exchange.
For the time being, let’s start with what FTX is and the five best reasons you should buy the FTX Token (FTT).
What is FTX?
FTX Tokens is a centralized cryptocurrency exchange that has its seat in the Bahamas. It has achieved popularity, with over a million registered users and billions of dollars in daily trading volume. Samm Bankman-Fried establishes FTX, which serves the company’s CEO position, and FTX Tokens has received a budget from leading trading firms.
The exchange features a variety of tradable instruments, which are unique to the deal, such as futures, perpetual futures, options, and prediction markets, all of which are the main points of appeal across all users who prefer the cryptocurrency exchange.
FTX coin is the native cryptocurrency token used within the exchange and offers a high level of utility, something we will cover here.
FTX Tokens (FTT) Live Price, Market Cap, Volume, Supply.
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FTX Token Price Prediction in 2022
According to predictions from WalletInvestor, FTX Token (FTT) is predicted to reach a moderate price of 18.74 USD by the end of 2022, with the lowest price of 8.51 USD and the highest fee of 29.07 USD.
However, with Coin Price Forecast, we can see a considerably bullish perspective for the token, with a minimum price of 57.19 USD, an average price of 59.31 USD, and a maximum fee of 66.27 USD.
Based on this, we can expect the token to reach a value point of around 50 USD by the end of 2022. It concludes the FTT coin analysis and prediction.
Five reasons to buy FTX Tokens (FTT)?
1. FTX Has a Skilled Team and A Stable Reputation
The first and by far one of the main reasons the FTX Tokens exchange has seen such high success, is because it has highly talented people who donate to its development and overall growth.
Specifically, one co-founder behind the project, and the current CEO, Sam Bankman-Fried, is well-known in the crypto space. He also co-founded another famous quantitative trading firm known as Alameda Research.
He also played a crucial role in rescuing the decentralized exchange (DEX) known as SushiSwap when it wasn’t as successful as it initially started.
The lead developer behind SushiSwap Chef Nomi cashed out 14 million USD worth of tokens in less than a week after it launched. Which spread fears that the project was behind a scam; however, after Bankman-Fried got into the picture, he temporarily took control before setting up a group to hold the SushiSwap keys.
2. The value of FTX Tokens has grown since 2021
On January 1, 2021, FTT Tokens was 5.77 USD. As of May 5, 2022, they esteemed the token at 39.529 USD. It shows that the ticket has increased in value by 33.759 USD or 585.08%.
However, when we look at the big picture, at its all-time high, 84.18 USD, the token was 78.41 USD higher in value, or by 1,358.93%.
That means that the FTX cryptocurrency has experienced an increase in value of over 1,300% at one point. Its place on the market shows that it could increase in value. Even further from now on, depending on how the platform will evolve.
The primary specialty to think here is cryptocurrencies have significant price swings, which makes them almost unbelievable to expect in terms of how far they will resume earning in their value. In any possibility, FTT has showcased stable performance historically.
3. FTT provides the FTX Tokens exchange with a higher level of utility.
They have developed the FTT token with a mechanism that aims to enhance the utility of the FTX exchange. It means that by using the token, users can earn free rebates, get discounts on their trading fees, and stake FTT tokens to receive high referral bonuses. They can vote in the community control system. TT has even burned a portion of the supply, through the FTT coin burn, from the fee collected by the exchange to decrease the inflation of the FTT token supply, which contributes to a healthy token value.
4. FTX Tokens Pushes out new products consistently.
As an exchange, has made multiple changes within the cryptocurrency exchange market. Specifically, they were the first to launch USDT features and leveraged tokens.
There is a massive demand for these products, and they have the opportunity of becoming extremely popular in the future.
FTX can levrage the technology team at Alameda Research, an experienced group that can build complex crypto trading systems under pressure. It ultimately leads to a fast development cycle, as they can sometimes roll out multiple extensive features daily.
5. The FTX Tokens Cryptocurrency Derivatives Exchange has powerful partnerships.
FTX Tokens has collaborated with multiple giants in the crypto and finance space. For example, they have partnered historically with Circle, True USD, Paxos, Fenwick and West, Proof of Capital, Galois Capital, Sequoia, Paradigm Capital, and many others’t finally results in a high level of trust surrounding the exchange. It has undoubtedly left the mark within the industry and will likely conduct many future partnerships, depending on what they tackle next.
All future collaborations will lead more attention to the exchange, which will finally result in an upgraded utility of the FTT token, and can contribute to the boost of its value, which is another leading cause why you might be curious about buying the token.
Is FTX Exchange Legit?
Since 2019, FTX has been a legit crypto exchange platform. Millions of users, roughly the one, use it. The Hong Kong financial authority regulates it.
How Does FTX Exchange Work?
FTX helps users produce instant profits with a leveraged token. It also allows BTC options trading, a secure way of making BTC market movements suitable for traders.
How Safe Is FTX?
It protected FTX with a 2FA process. An extensive multi-tier KYC process also backs this authentication. Users need to finish KYC to trade.
Has FTX Ever Been Hacked?
There have been no cyber hacks and buyer losses on the platform. The exchange is presently taking most of its processes on Google Cloud. Overall, the platform offers convenient security features.