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The FTX Token price dropped more than 4% in the past 24 hours to trade at $4.41 as of 11:42 a.m. EST.
The fall comes as investors wonder what is next amid the turmoil at Binance, triggered by the resignation of founder and CEO Changpeng Zhao (CZ). In the settlement, Binance has committed to a $4.3 billion penalty, and Zhao will step aside as CEO for three years, and pay a $50 million fine.
FTT trading volume slumped 39% to almost $266 million. But the price is still up 313% in the past month.
FTX Token Price: Bulls Aim for New Highs
The price of FTT had experienced a significant resurgence, gaining support at $0.96 and rallying to a resistance zone ranging between $4.8 and $5.58.
However, the bears intervened to correct the price at this zone but were stopped at a $3.12 support area, enabling the bulls to regain control and indicating a sustained bullish trend that could drive the price to $0.55.
FTT price trades above the 50-day and 200-day simple moving averages, reinforcing the positive outlook and serving as short-term support. The golden cross at $1.27 further confirms the bullish momentum.
The Relative Strength Index (RSI) is on a general bullish trend Although there has been a decline, it remains in a generally bullish zone, standing at 71 and rebounding from the neutral level of 50, indicating intense buying pressure for the FTT price.
FTX Token Price: A Robust Bullish Trend
The trajectory for the FTT price reflects a robust bullish trend. The support from the 50-day and 200-day SMAs and the RSI empowers the bulls to drive the price higher, aiming to reach a new high at $7.56, reflecting a 68% increase from the current price.
If the bears seize the opportunity to exploit the resistance at $4.8, causing FTT’s price to fall below this level, it would not only nullify the bullish momentum but also expose FTT to the potential risk of plummeting to $2.03 or even lower, possibly reaching $0.96. Such a development would erase recent gains and nullify previously bullish sentiment.
As we wait to see how this will pan out, investors are turning to BTCEFT amid its explosive presale.
BTCETF Blasts Past $1.3 Million, Price Increase In 24 Hours
The excitement surrounding the SEC’s potential approval of Bitcoin ETFs intensifies daily. Amid this, the Bitcoin ETF Token (BTCETF) has emerged as an innovative project to reward its holders in line with the approval of Bitcoin ETFs.
A #BTCETF is a long-awaited dream for #Bitcoin believers.
From the earliest speculations to an official application by @BlackRock, ETFs for $BTC now appear inevitable.
A flood of spot #ETFs is expected to bolster the #Crypto market with billions or trillions. 📈 pic.twitter.com/qozhXHjR7W
— BTCETF_Token (@BTCETF_Token) November 15, 2023
BTCETF, an ERC-20 token, is the native currency for the BitcoinETF token presale. At Stage 4, the project has garnered over $1.4 million, nearing its $1.75 million goal.
BTCETF tokens are currently available at a discounted rate of $0.0056, but this price is set to rise within the next 24 hours when the presale progresses to the next stage.
Of the total supply, 840 million $BTCETF tokens, representing 40%, are allocated for public acquisition.
BTCETF Staking, Lucrative 180% APY
In addition to purchasing $BTCETF tokens for profit, investors also have the option to stake their acquired tokens to earn passive income. The team has earmarked 25% of the total supply for staking, with 149 million BTCETF tokens already staked.
By buying and staking your tokens now, you can benefit from an impressive 180% annual percentage yield (APY), surpassing the industry’s average yields.
Note that staking more tokens will decrease the current APY rate, which highlights the advantage of staking early.
The Bitcoin ETF token is generating buzz, and CryptoNews, a popular YouTube channel, has joined in on the excitement. Its latest video explores BTCETF and forecasts a potential 10X–100X surge in its value upon launch, especially if the SEC approves spot Bitcoin ETFs.
You can easily buy BTCETF tokens on the Bitcoin ETF Token website using cryptocurrencies like ETH, USDT, MATIC, or a regular bank card.
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