- The FTX token has declined greater than 76% previously two weeks and is down 98% from its all-time excessive.
- But, it is nonetheless larger than its all-time low reached in 2019 and has about $418 in market cap.
FTX was seen as probably the greatest cryptocurrency exchanges on this planet till its collapse surprised the crypto business.
Simply to sum up what occurred, FTX’s chapter submitting has proven that just about all the things that hit the alternate has to do with the failings and crimes by founder Sam Bankman-Fried.
FTX token declines not as spectacular as LUNA
Regardless of the FTX implosion and the truth that tens of millions of individuals are more likely to have misplaced all their cash, the FTX token hasn’t gone to zero but. The truth is, FTT nonetheless trades across the similar value ranges as when it hits the market following its launch.
The FTX token was launched on 8 Might, 2019 and reached an all-time excessive of $85.02 on 9 September 2021. At present ranges, to which the token slumped following final month’s FTX implosion, FTT is greater than 98% down on its all- time peak.
So what’s occurred? The whole lot, however the demise of the FTX token that hasn’t occurred as spectacularly as what occurred with Terra (LUNA) in Might 2022.
As seen on CoinGeckoFTT is buying and selling close to $1.28 – about 11% larger than its all-time low of $1.15 hit on 6 September 2019. The FTX token ROI is at practically 28%,
And with its market cap nonetheless above $410 regardless of the FTX chapter and all that is been revealed concerning the previously ‘SBF empire’, it is fairly straightforward to say that FTX could also be ‘lifeless’- however FTT is just not there but. Over $10 million value of FTT was traded previously 24 hours.
Only for context, Terra Traditional (LUC), the Terra token that went to zero in Might, nonetheless sees motion with greater than $115 million value of trades previously 24 hours.