Cryptocurrency trading hit record levels in 2021, with trading volumes reaching $2,23 trillion in May 2021, according to The Block. In June 2022, trading volume declined to $605,86 billion, indicating a reversal in overall cryptocurrency market sentiment. FTT is the native token of the centralized cryptocurrency exchange FTX. Its history reflects the volatility of cryptocurrency prices and trading activity in the broader market, rising during the strong rally seen in April and May and reaching an all-time high of $85,02 on September 9, 2021.
In this article, we will discuss:
What is FTX?
FTX is a centralized cryptocurrency exchange launched in May 2019 by an experienced team of traders and software engineers. Since then, FTX has gained a significant market reputation, driven by robust regulatory compliance and strong liquidity ratings. The native FTT cryptocurrency is an ERC-20 standard token, ranked in the top 40 by market cap.
FTX calls itself a trader-focused exchange, “built by traders, for traders”. In addition to standard exchanges of large and mid-cap cryptocurrency pairs, FTX also allows initial exchange offerings (IEOs) to be conducted, most recently for the metaverse in development Star Atlas. With high-profile celebrity endorsements and billions of dollars daily trading volumes, FTX has established itself as a major player in the competitive cryptocurrency exchange market.
FTT/USD price analysis
The FTX (FTT) token has been one of the fastest growing cryptocurrencies and since its inception has yielded an ROI of 2251%, according to CoinMarketCap as of June 30, 2022. Based on the first available price data from 2019 , the FTT token price dropped from $1,78 to its all-time low of $0,83 on September 7, 2019. It then picked up momentum and closed the year at $2,14. Throughout 2020, the price of the FTT token has been moderately bullish, moving on a steady upward trajectory and eventually closing the year at $5,77. It recorded gains of 169% in the year.
In 2021, the FTX value skyrocketed from $5,82 on January 1st to $61,28 on May 11th – a 952% increase. However, the cryptocurrency market broader turned bearish, and the FTT token price chart showed a decline of over 62% to close at $22,79 on June 26. Between June and September, the FTT price turned bullish again and reached its all-time high of $85,02 on September 9th. A pullback brought the price to $37,46 on Dec. 14 and closed the year at $38,31.
In early 2022, FTX token price action was slightly bullish and hit a 90-day high of $49,85 on Jan. The broader cryptocurrency market tumbled and the FTT dropped to a 20-day low of $90 on Jan. 31,55, down nearly 24% in 37 days. As of June 4, 30, the FTX token (FTT) was trading at $2022 and had a market capitalization of $23,51 billion.
FTX Price Forecast (FTT): Targets for 2023 and 2030
As the demand for cryptocurrencies expands, the need for centralized and decentralized exchanges (CEXs and DEXs) may remain strong, which bodes well for exchanges with a substantial market share such as FTX, and later on for prospects. of FTT coins. The short-term FTT price forecast based on technical analysis was bearish on June 30, with all 27 indicators giving bearish signals and none showing bullish signals.
All the weekly simple moving averages (SMA) and exponential moving averages (EMA) as well as the volume weighted moving average (VWMA) were giving 'sell' signals. The Hull Moving Average (HMA) and Stochastic RSI also gave sell signals, while the Average Directional Index (ADX), Relative Strength Index (RSI) and Moving Averages Convergence Divergence (MACD) remained neutral. The analysis gave a short-term FTX forecast that suggested the price could drop 11,20% to reach $20,80 by July 5th.
The most negative FTX cryptocurrency price prediction by some crypto analysts is that coin one is a bad investment in the long run. For these analysts the average price of FTT could be $13,00 by the end of 2022, $5.30 by the end of 2023, $4.80 by the end of 2024, $13.00 by the end of 2025 and $10.60 until the end of 2026.
More conservative price predictions indicate that the FTX token could average $30,80 in 2022, $33,60 in 2023, $34,40 in 2024, $45,65 in 2025, $41,60 .2026 in 54,15, $2027 in 75,70, $2028 in 95,50 and $2029 in 106,70. The currency to reach $2030 in 123,00 and rise to $2031 in XNUMX .
More Optimistic Long-Term FTX Cryptocurrency Price Forecasts – Indicate that the average price of FTT could hit $40,40 in 2022, $60,46 in 2023, $87,01 in 2024, $123,98 in 2025, US$180,14 in 2026, US$256,71 in 2027, US$387,74 in 2028, US$547,20 in 2029 and US$787. currency to reach US$1.100,52 in 2031 .
Where to buy FTT token?
FTT cryptocurrency can be traded on the following exchanges:
- Binance
- bitget
- bybit
- MEXC
Frequently asked questions
Is the FTX token a good investment?
FTX is a centralized cryptocurrency exchange that competes with other established players like Binance and Coinbase. From its inception to June 30, 2022, FTT has yielded an ROI of 2251% according to CoinMarketCap. It hit an all-time high of $85,02 on September 9, 2021 and recently dropped to a 90-day low to hit $21,15 on June 15.
Whether FTX cryptocurrency is a good fit for your investment portfolio depends on your circumstances and risk tolerance. You should consider the level of risk you are ready to take before investing and never invest any money that you cannot afford to lose.
Will FTX hit $500?
Algorithmic prediction websites and Price Prediction suggested in their June 30 FTT cryptocurrency price prediction that the coin had potential for gains. The Price Forecast estimated that the FTX token could exceed $500 by 2029.
How high can FTX currency go?
According to the June 30, 2022 FTT forecast on the Price Prediction website, the FTX token could reach $1.100,52 in 2031.
