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Is FTT a Good Investment?

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FTX Token Good Investment Cover

Recently, the attention of crypto enthusiasts looking for the most promising altcoins has been turning towards the FTX Token (FTT) – the native asset of the FTX crypto exchange. But what is FTT really, and is the FTT a good investment to make during the current market cycle?

Cryptocurrency SymbolFTT
Market Cap$6,727,844,806
Circulating Supply120,455,699.42 FTT
Total Supply336,326,035
All Time High$85.02
All Time Low$0.8313
Official Websitehttps://ftx.com/

What Is the FTX (FTT) Token?

FTX Token (FTT) is a unique digital asset powering the FTX Cryptocurrency Derivatives Exchange. FTT is an Ethereum-based token, compatible with all wallets and exchanges supporting ERC-20 tokens.

The current circulating supply of the FTX Token is over 127,000,000 FTT. The total supply of the FTX Token is around 340,000,000 FTT. Since the total supply is limited, many crypto enthusiasts think that the FTT is a good investment, as the token’s price is expected to grow over time while the supply gets smaller.

Creating dedicated cryptocurrencies is a common trend among crypto exchanges. Both centralized exchanges like Binance and decentralized exchanges (DEXs) like Uniswap have launched their digital currencies.

FTX Token is different from Binance Coin (BNB) or Uniswap Token (UNI) because the FTX Exchange is a very distinctive cryptocurrency marketplace. Instead of being just another crypto exchange, FTX is focused on providing unique instruments to highly demanding retail and institutional investors. Because of that, FTT is a good investment as it targets its own crypto niche, and doesn’t compete directly with tokens like BNB or UNI.

What Is the FTX Exchange

FTT-cryptocurrency-exchange

The homepage of FTX exchange

FTX is a next-generation digital currency exchange designed specifically to answer the needs of most demanding blockchain investors, not satisfied with traditional crypto exchanges like Binance or Coinbase. Since FTX is one of the most popular cryptocurrency derivatives marketplaces in the world, FTT is a good investment and has been performing very well during the current crypto bull run.

The FTX exchange was founded in 2019 by Gary Wang and Sam Bankman-Fried. Wang and Bankman-Fried have decades of combined experience in trading and software engineering and have previously worked in renowned tech giants such as Facebook and Google.

The main advantage of the FTX exchange is the fact that FTX allows investing in unique crypto instruments not available anywhere else. Instruments offered on the FTX exchange include options, volatility products, derivatives, and leveraged tokens.

The feature allowing investing in leveraged tokens is especially interesting as it depends specifically on the FTX Token. Thanks to utilizing FTT, investors can enjoy opening positions on tokenized versions of traditional cryptocurrencies like Bitcoin with significant leverage, which makes FTT a good investment with a unique value proposition.

Aside from typical functionalities common on all cryptocurrency exchanges, the FTX exchange includes some extra tools designed to optimize the experience of buying and selling digital assets. Advanced features of FTX comprise tools such as maintenance margin, product listing, liquidation processes, and various collateral solutions.

Sam Bankman-Fried

FTT Price Analysis

Given the solid technical fundamentals of FTT and important use cases fulfilled by the token, it’s not surprising that FTT has been one of the most successful digital currencies during the current crypto bull run.

For a long time, the FTT price stayed at a stable level around $4. In January 2021, the valuation of the FTX Token started to increase at a rapid rate.

FTT reached its all-time high of $85.02 on September 9th. Currently, the FTT is one of the 30 most valuable cryptocurrencies by market capitalization, but many experts believe that FTT is a good investment and that it still has a lot of room for growth.

So far, the FTX Token has proven to be very profitable for investors. Since the token was launched in 2019, the FTT price has appreciated by over 5495%, which means that the FTT is one of the altcoins with the highest return of investment.

FTT-USDT-chart

FTT/USDT chart

FTT Price Predictions: Will FTT Reach $100?

After the FTT surpassed the $50 price level, many blockchain experts started to believe that $100 is the next logical target for FTT. However, a large number of crypto enthusiasts are even more bullish – while they are convinced that FTT will reach $100, they believe that it might even reach $200 or $300 in the near future.

For example, NFT & crypto investor Pablo Guirao predicts that FTT will reach $300 by the end of the year, which would definitely make FTT a very good investment.

According to a survey created by Abhishek Singh, most crypto enthusiasts on Twitter believe that the FTT is a good investment and that it will massively appreciate at price in the upcoming years. Only a handful of users claim that FTT will reach $100 – most people are convinced that the FTT will reach $300 in the foreseeable future.

Technical analysts on Youtube are more focused on short-term FTT price predictions, and most of them are convinced that FTT will reach $100 soon. For example, according to the Ayza Crypto World channel, FTT price will test resistances at $75 and $85 first, and if it manages to surpass them, FTT will reach $100 in the near future.

Will FTT Reach $100 or $300?

Most blockchain experts are convinced that FTT will reach $100 in the short term, likely before the end of the year. When it comes to long-term FTT price predictions, crypto enthusiasts believe that FTT will reach $300 in the next few years.

Can You Buy FTT in the US?

Due to legal issues, it might be hard at this point for the US resident to purchase FTT tokens. This is caused by the fact that the regulatory bodies in the US do not support trading crypto derivatives. Of course, this only means that centralized exchanges will not sell FTT to US-based investors – you can still buy FTT on decentralized exchanges like Uniswap or Sushiswap.

Where to Buy FTT?

If you’re not located in the US, you can easily buy FTT tokens on many popular centralized exchanges such as Binance, FTX, Huobi Global, and Binance. If you’re a US citizen or simply prefer to use DEXs, you can buy FTT tokens on centralized exchanges like Uniswap and Sushiswap.

Is FTT a Good Investment?

The market for crypto derivatives is constantly expanding, and the FTX exchange has already established itself as one of the leaders of this particular market niche. This means that FTT is a good investment to make, as its price will almost certainly keep increasing in the upcoming years.

Conclusion

If we take all factors into consideration, the FTT looks like a very good investment. FTT has been performing superbly during the past few months, but many signals suggest that the token still has a lot of room for growth.

The main advantage of FTT is the fact that it is a digital asset powering one of the most functional crypto marketplaces in the blockchain ecosystem. If the FTX exchange keeps increasing its market share at the current rate, it’s possible that FTT might even become one of the top 10 tokens by market capitalization in the foreseeable future.

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