FTX’s native token, FTT has shown some resilience amid what has turned out to be a turbulent cryptocurrency market in the first half of 2022. The strong backing of a large exchange platform and multiple partnerships have kept the tokens afloat and given them more use cases.
FTX’s US affiliate announced a partnership with the Stripe payment platform in March to support crypto purchases via debit cards, credit cards, and bank transfers. The platform is also expanding geographically, including a recent announcement to set up a regional headquarters in Dubai.
As FTX attracts high-profile partnerships, could we see the price surge? Look no further if you’re looking for FTT price prediction for 2022-2025. We will look at the recent FTT pricing to see what to expect from future price changes.
What if FTX?
FTX is a crypto derivatives exchange launched in April 2019 by founders Sam Bankman-Fried and Gary Wang. Alameda Research, a trading firm, backs the platform. Other capital firms also support the company, including Coinbase Ventures, Binance Labs, and Pantera Capital.
The exchange offers futures and leveraged tokens for individuals and a basket of crypto assets, binary options, the counter options.
This crypto was created to block clawbacks through a three-tiered liquidation model that closes positions with rate-limited orders and uses an insurance fund to mitigate customer losses.
FTT is created based on ERC-20 standards with the Ledger Nano X/S hardware wallet enabling users to manage their FTT tokens through the Ethereum application. The token allows holders to receive discounts and OTC rebates as per their holdings of the FTT in a tiered system.
FTX applies a token burn, where it repurchases and burns tokens up to a point where half of the supply is destroyed. The token burned is equivalent to 33% of the exchange fees, 10% of the insurance fund net additions, and 5% for utility.
The exchange deals in leveraged tokens that enable the traders to take a short or leveraged position on multiple spot exchanges. FTX has also integrated an OTC portal enabled through Alameda Research for users to purchase and sell tokens instantly with no charges when accessing the liquidity pool.
The FTX derivatives are stablecoin-settled with only a universal margin wallet as the requirement. The solution seeks to solve the challenge of disintegrated collateral across multiple token wallets.
FTX: should you invest in FTT today?
From the technical outlook, FTT is not an ideal investment in the short term since the token is facing a bearish momentum. The daily chart shows that the token is trading below the 100 and 200 moving averages, offering resistance to the upside.
The trend indicators show that the MACD is crossing the signal line from above, further affirming a selling pressure. FTT is, however, trading at an important support zone, and a break below will signal a bearish market, and a price above the zone could welcome a bullish trend.
Will FTX (FTT) reach 0 in 2022?
The factors under consideration in our FTT price prediction between 2022 and 2025 are the expansion of the network and the strong backing of crypto exchanges bringing about more use cases. However, although we are bullish on FTT, no perfect price prediction is possible, and further research is recommended.
- Our 2022 price forecast puts it at a maximum price of $50 and possibly rises to as high as $60 in the period. The average expected price throughout the year is about $40.
- The prediction for 2023 places it at a maximum price gain of $70 and $65 at a minimum. The token is expected to trade at around $45-55.
- The price forecast for 2024 puts it at a maximum gain of $90 and $80 at a minimum. The average expected price throughout the year is estimated to be around $60.
- In 2025, it is forecasted to rise to about $120 at maximum and $100 at a minimum. The average trading price in the period is estimated at $70.
FTT past price analysis
The latest data from CoinMarketCap shows FTX trading at $31.94 following a 1.13% increase in the past day and a 2.24% dip in the past week. The token is equally down 23.47% in the past month and 31.65% in the past three months.
The annual outlook indicates a 36.81% decrease since reaching a high of $50.5. The year-to-date token has plunged 17.7% and trades. FTT surged to an all-time price of $79.87 in September 2021. The token currently ranks at number 22 with a market capitalization of $4,361,454,963.40. There are currently 136,538,847.82 circulating FTT tokens from a total supply of 332,408,184 and a maximum supply of 352,170,015.
These tokens can be staked for various benefits, including referral rates, where users get a portion of the referral fees. Bonus votes are other benefits where the token stakers are rewarded extra votes on top of the standard number of votes as per the tokens held and the trading volumes. The FTX site also includes a part of ERC20 and ETH withdrawals every day. Other listed benefits are IEO tickets, more airdrops, and waived fiat fees.
Want to buy FTT?
FTT tokens are listed on FTX exchange, Binance, and Coinone, Bybit, MEXC. The available pairs include USD, BTC USDT, BUSD, and KRW. The exchange has restricted the trading of FTT tokens in the US.
If you wish to buy the tokens outside of the restricted jurisdictions, follow these steps:
Open an online trading account with the FTX trading platform or Binance. Follow the verification procedures by uploading the necessary documents.
Buy a crypto wallet if you are using a decentralized exchange. If not, you can proceed to buy with the pairs.
Purchase by exchanging the stablecoins in your account with the FTT tokens.