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FTX (FTT) Crypto Price Prediction – Is FTX Token Dead?

FTX Hacker Turns Millions in Ether to Ren Bitcoin Tokens
FTX Hacker Turns Millions in Ether to Ren Bitcoin Tokens

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After the FTX exchange collapsed it has a huge impact on the cryptocurrency market and FTT coins priced dropped by more than 80%, will FTT be able to recover? Samuel Bankman-Fried was the founder and CEO of FTX exchange, he is also the person behind FTX token (FTT). November 11th FTX exchange filed for bankruptcy, Bankman-Fried the company’s CEO confirmed that there weren’t enough assets on hand to meet market needs.

Find the full video below of FTX token (FTT) price prediction, and if FTT can still recover, follow his YouTube channel for more crypto price predictions.

YouTube video

After declaring bankruptcy, FTX was attacked just hours afterwards. The exchange identified unauthorized transactions that could have stolen funds worth close to $500 million. The shocking failure of the third-largest exchange in terms of transaction volume will cause major impacts throughout the cryptocurrency community for certain time.

What is FTX Token (FTT)?

FTT is the native token of FTX exchange a cryptocurrency exchange for derivatives that was founded in 2019, it is running on Ethereum blockchain, FTT provides access to the FTX trading platform’s features and services. You may take advantage of cheaper trading costs and gain access to a variety of benefits on the FTX market by holding FTT tokens. You may trade derivatives using your tokens as collateral as well.

There is a central pool of collateral for the FTX Token. This enables the FTX ecosystem to be more stable. The value of the collateral pool will rise in unpredictable market conditions.

FTT Price Prediction

Following the bankruptcy of the FTX exchange a few weeks ago, the price of FTT has fallen even further. FTT soared to an all-time high of $85 in September 2021 before crashing to under $2 in November 2022, as of December 13, 2022 the FTT token is currently trading at around $$1.40, sadly, there has been no sign of a recovery for FTT.

The dramatic crash was brought upon by the report that FTX was bankrupt and unable to refund consumer money. Looking at historical price data, it is quiet bearish. FTT is stuck at the price from early 2020, this is not a good time to buy FTT tokens.

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