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What is FTX, and what is FTT coin?
FTX is a centralized cryptocurrency exchange that allows people to buy and sell derivative products of various digital assets. The exchange came into being in 2019 and has since grown to a user base of more than 1 million registered users. It also boasts over 1 billion dollar worth of trading volume each day.
The exchange features a variety of tradable instruments, including futures contracts of more than 80 cryptocurrencies. It also allows people to trade perpetual futures which don’t come with expiration dates. Options trading are also possible in the exchange. The exchange also supports the predictions market, allowing people to bet on real-life events such as US presidential elections.
FTT is one of the many innovative products found on the centralized exchange. It acts as a native currency that powers the exchange. The coin holds value and can be traded or used to facilitate transactions. Token holders get huge discounts on trading costs on the exchange. In addition, FTT tokens accord holders access to extra advantages, including lower trading costs.
The total number of FTT tokens in circulation stands at about 137.49 million, with a total supply of 333.36 million FTT coins. The total number of FTT tokens that will ever be in circulation stands at 352,170,015 tokens. FTT is ranked as the 27th largest cryptocurrency with a market cap of about $5.8 billion.
Should I buy FTT coin today: FTT market sentiment
FTX coin has shed a significant amount of market value ever since it came under pressure on powering to all-time highs of $84 a coin. The coin has shed more than 40% in market value. After plunging to six-month lows at the start of the year to lows of $26 a coin, FTT appears to have found some stability from where it has started bouncing back.
The coin has powered through and appears to have found strong support above the $40 a coin level. A build-up in buying pressure is once again fuelling suggestions of the coin powering to highs of $50 a coin. However, it first needs to find support above $48 a coin level to have any chance of taking out the $50 a coin psychological level.
The short-term outlook remains bearish given that FTT is still trading below the 200-day moving average. However, the Relative Strength Index powering through the 50 level is already fuelling the suggestion of waning short-selling pressure. That said, now may be the best time to buy FTT at a discount.
What is FTT price prediction for a year?
While the FTT token has plunged below $50 a coin level, expectations are high that it could bounce back before year-end. Analysts at digitalcoinprice.com expect the coin to average more than $56 a coin for the year and touch a maximum of $60 a coin before year-end.
In contrast, analysts at Walletinvestor.com are highly optimistic, expecting FTT token to rally more than 60% from current levels to highs of $71 a coin. The significant bounce back is highly dependent on the overall cryptocurrency sector bouncing back after coming under immense selling pressure in recent months.
What is FTT price prediction for 2025?
The long-term outlook is even more bullish for FTT token as-is for the overall cryptocurrency sector. Increased cryptocurrency adoption and trading activities going forward will be the catalyst in supporting double and triple-digit percentage gains on the FTT token.
As more people resort to a cryptocurrency exchange to try and profit from the extreme volatility levels around crypto prices, the FTT token is expected to appreciate significantly. Analysts at Digitalcoinprice.com expect FTT tokens to average more than $85 a coin by 2025 and touch a maximum of $96 a coin price.
In contrast, technical analysis at Walletinvetsor.com expect FTT token to average more than $100 a coin by 2025.
What Is FTT Price Prediction for 2030?
FTT token has a big future potential as more people continue to use the FTX centralized exchange to trade various cryptocurrency derivative products. As more people use the exchange to trade, demand for the token is likely to surge.
Considering the volatile nature of cryptocurrencies, everything is possible when it comes to price appreciation. Therefore, it is not surprising that many analysts believe FTT will be a $200 coin by 2030.
Considering that FTT rallied by more than 1,000% at the height of the crypto boom in 2021 to record highs of $84 a coin, everything is possible in the next eight years. Therefore a 350% plus rally from current levels is possible.
Will the FTT coin appreciate in a year?
Yes. FTT token can appreciate in a year back to its all-time highs of $84 a coin.
How much will FTT be worth in 5 years?
The FTT coin is expected to be worth more than $100 a coin in the next five years. The coin could also rally to highs of $200 a coin on a strong crypto boom.
Where do I buy FTT Token?
FTT can be purchased and sold in some of the biggest exchanges, including FTX, Binance HitBTC, and Huobi Global.