Trading Despite FTX Collapse Last Month The platform’s crypto token FTT never plummeted to zero, but surprisingly, it has remained below $2 per unit area since November 12, 2022. For 38 days, the FTT was above $1 per square meter until December 19th. It suddenly fell below the $1 territory during the mid-afternoon trading session and fell to $0.89 per FTT at 2:30pm. (ET).
The bankruptcy of his FTX exchange token FTT falls below the $1 price point at the $1 support line on Monday, December 19, 2022. Interestingly, unlike the collapse of Terra and the dive-bombing of native token LUNA, which went to zero, the FTT started at $25.78 per coin on November 5, 2022, and dropped to about It dropped to $1.59. , three days after FTX filed for bankruptcy protection.
FTT broke below the $1 range on Monday 19 Dec 2022, FTT has been below that price since support broke.
The FTT tapped at $1.92 per coin the next day, November 15th, but has not seen that price high since that point. For 38 consecutive days starting November 12, the FTT has been below $2 and above the $1 range before hitting a high of $1.88 per coin on December 9. After 11 days, the FTT market struggled, with the
exchange token dropping to $0.894 per unit around 2:30pm for the first time since the token. (ET) Monday afternoon. On Tuesday, at the time of writing, the FTT is down 8.6% against the US dollar. FTT price remains below $1, but FTT is not higher than a myriad of crypto assets on Tuesday. The FTT market capitalization rank does not apply as the project’s contract deployer unlocked and put into circulation locked FTT tokens last month.
Coin market capitalization aggregator sites such as coingecko.com do not rank crypto caps among the thousands of other cryptos listed. Today, 328,895,112 FTT tokens are estimated to be in active circulation, and in the last 24 hours, the global trading volume of FTT reached $7.26 million.
Since the demise of FTX, FTT trading volume has declined significantly, with the most active FTT trading currently occurring on Binance, Kucoin, and Sushiswap. While the FTT broke below the $1 support, crypto assets remained consolidated just below the region with prices between $0.89 and $0.98 per unit.
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