People are still bullish on FTT and CEL, 2 tokens backed by bankrupt crypto companies – Markets and Prices Bitcoin News – Bitcoin News | Vette Leader

Despite the exchange’s recent meltdown and filing for bankruptcy, crypto traders are still paying more than $1 for FTX’s FTT token as of Friday, November 18, 2022. FTT was once a top 30 crypto asset and now the token does not rank it on certain coin market aggregation sites due to locked FTT tokens being circulated after FTX bankruptcy filing.

Bankrupt crypto exchange FTX’s FTT token is still trading above $1

While the FTX exchange collapse is a mess and the new FTX CEO said previous FTX leadership was a “complete failure of corporate controls” and “a complete lack of trustworthy financial information”, the exchange token FTT is still being used for $1.48 per traded unit.

Despite the fact that FTX has declared bankruptcy, the coin is held by a few concentrated hands and the FTT Contract Deployer has unlocked 192 million previously locked tokens, it has not been included in the list of dead cryptocoins trading for less than a US -Penny traded.

People are still bullish on FTT and CEL, 2 tokens backed by bankrupt crypto companies
FTT/USD via Bitfinex on November 18, 2022.

At the time of writing, FTT’s 24-hour price range is between $1.46 per unit and $1.62 per FTT. The coin has lost about 93.9% in the last 14 days and is no longer listed on coingecko.com due to the Contract Deployer incident.

On coinmarketcap.com, however, it ranks 209th out of 21,790 listed cryptocoins on 11/18/2022. After hitting its all-time high on September 9, 2021, FTT was ranked #25 on coingecko.com and had a market valuation of $7.76 billion.

Crypto advocates are still “bullish” on crypto coins like CEL and FTT, a social media post states that FTT is still growing 3 days after FTX filed for bankruptcy

Today, FTT has a fully diluted valuation of around $485,397,611 and saw a global trading volume of around $16,060,367 in 24 hours. According to coingecko.com, “MEXC Global is currently the most active exchange” on November 18, 2022.

According to Coinmarketcap.com, the most active exchanges of FTT on Friday are “Binance, Coinw, BTCEX, Bitrue and Tapbit”. Cryptocompare.com metrics show that the most active trading platforms dedicated to FTT include Binance, Bitfinex, Huobi, Gate.io and Bibox.

Stats from cryptocompare.com further show that FTT’s biggest trading pair on Friday is stablecoin BUSD, which captures 92.87% of FTT swaps, while Tether (USDT) captures 6.90%. FTT joins a wide range of tokens once managed or backed by now-bankrupt cryptocurrency companies.

For example, despite the collapse of crypto lender Celsius, the Celsius token (CEL) still holds a value of $0.45 per unit. A number of people discussing CEL in coinmarketcap.com (CMC) community posts are still “optimistic” about CEL and still believe in it.

The same goes for die-hard FTT token fans, as a post from the CMC community states: “FTT token will grow [in the] We believe that they will solve problems and be bigger in the next few days.” The CMC community post stating that FTT will grow was positively rated by more than 3,300 CMC community members.

tags in this story

90% Down, Altcoins, Bankruptcy Collateral Tokens, CEL Tokens, Celsius, Celsius Bankruptcy, coingecko.com, Coinmarketcap.com, Crypto Traders, FTT, FTT Analysis, FTT Markets, FTT Prices, FTT Selloff, FTT Tokens , FTT Trading , FTX Bankruptcy, FTX Bankruptcy Filing, FTX Collapse, FTX Fallout, Markets, Prices

What are your thoughts on the price action of FTT since the FTX collapse and the people who still believe FTT will make a comeback? Let us know what you think about this topic in the comment section below.

Jamie Redman

Jamie Redman is the news director at Bitcoin.com News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about today’s emerging disruptive protocols.




photo credit: Shutterstock, Pixabay, WikiCommons

Disclaimer: This article is for informational purposes only. It is not a direct offer, or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Leave a Comment