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.
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.
MrRealWhale #FTT will be EPIC COMEBACK
— 𝚂𝚎𝚊𝚗 𝙲𝚘𝚢𝚕𝚎 (@LeeElli91451919) November 17, 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.
Tradingchik FTT Coin. It will make a comeback.🚀🚀🚀
— Medusa World DAO | Minting Q3 (@HannahD20653479) November 14, 2022
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.
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.
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