The year 2021 turned out to be the wealthiest season for altcoins as most of them have outperformed the most dominant asset Bitcoin. One such asset that amazed the crypto space with massive price spikes in Q1 was the FTX token.
The FTX is built on the ERC-20 token and being a crypto derivatives exchange, aims to provide institutional-grade solutions by offering futures, leveraged tokens, and Over the Counter (OTC) trading.
But what can we expect from the FTX token, will the FTT price surge or plunge in the upcoming five years? This FTT Price Prediction article explains all the queries related to its fundamentals, latest updates, and FTX price forecast.
|Circulating Supply.||120,455,699.42 FTT|
|All-time high.||$85.02 on September 9th, 2021.|
|All-time low.||$1.15 on August 9th, 2019.|
FTX is a crypto derivatives trading ecosystem that owns a native token termed FTT. The token can be utilized as collateral for futures trading, earning commissions on trading fees, getting Over-The-Counter rebates, and more.
The platform solves the existing problems associated with futures trading. On the other exchanges present in the market, the collateral is divided across separate token wallets. However, FTX derivatives are stablecoin-settled and need a only universal margin wallet to limit future positions from getting liquidated.
Another exciting feature of the platform is leveraged tokens that enable investors to fill leveraged positions without any margin trading. For example. if the user wants to short Ethereum with 5x leverage, they can simply purchase a 5x short Ethereum leveraged token on FTX.
FTX token was launched by Sam Bankman-Fried and Gary Wang on May 8th, 2019 The founder completed his bachelor’s degree from the Massachusetts Institute of Technology. Sam Bankman Fried is also the present CEO of the FTX network. And accumulated experience at Centre for Effective Altruism as director of development. The co-founder is also the present CEO of Almeda Research and was also an investor at Jane Capital from 2014 to 2017.
Another co-founder Gary Wang. Prior to this, he completed his internship at Facebook as a software engineer. Another co-founder Gary Wang completed his graduation from the Massachusetts Institute of Technology in computer science and mathematics. The co-founder previously gained experience as a software engineer at Google. He currently works as chief technology officer at crypto derivatives exchange platform FTX.
Almeda Research owns the FTX network, which is one of the reputed institutes in cryptocurrency trading and enables large liquidity pools. The FTX platform is built by a dedicated team, who are experts in the relevant field.
The FTT price sliced through 50 days MA owing to the death-cross earlier this year. The bulls have managed to gain momentum at $39.41 opening their positions at a six-month low. Whilst RSI has also taken a bullish divergence, FTT is likely to clear above barriers to rise above $50. If it undergoes a supercycle like the one it had in Q1 2021, it may rise up to $75 in Q1.
FTX Token seems to be a good investment choice for the long term. The rest of the year is going to be the gamechanger for FTX Token if bulls overtake the market for a certain period of time the price may also reach $100 if it remains immune against inflation. In the worst case scenario, if adverse negative sentiments hurt the price action then it may end up trading around $51.29 by the year’s end.
The year would remain challenging as inflation fears might impact the market for the next two years. If it comes up with suitable upgrades inclined with a trend FTT price remains invulnerable to bears. The asset would hit a maximum of $97.85. However, if bears haunt the rally the altcoin would settle down around $60s.
When predicting the price for the long term, it is implicit to analyze its historical footprints and how it behaves when bears overtake the market. FTX Token has responded well enough to the recent market fluctuations with no major dip. So, this secure and fast network has the potential to reach $200.35 by the end of the next five years.
As the coin fails to introduce new upgrades and regulatory constraints across different territories, this may result in a pullback of the price rally to $115.58. Considering all aspects, the altcoin could trade at an average price of $137.45.
According to the technical analysis of Walletinvestor, the FTT token may consolidate at a maximum price of around $88.087. The price is anticipated to hit the average price of $78.195 and could experience a considerable dip to $68.170 by this year’s end. As per their analysis, this is the best platform for long-term investments and the price may boom to a maximum of $256.326 and could trade at a potential average price of $210.826 by the end of 2025.
As per digital coin price prediction, the FTT might see a study rise this year and may hit $58.03 by the year-end. The website has given a feasible target for the year-end 2023, where the price may hit the value of $67.17. They anticipate that the price will continue to rise and may smash the milestone of $93.03 by 2025.
As per the data analysis of Gov.Capital, the FTX token may surge to new highs reaching $122.57 by this year-end. They hope that the price may end up at an average price of $106.591 by the end of 2022. According to their website, the altcoin could give massive profits in the long term and could smash $643.6182 by the end of 2025. The average and minimum possibilities are being $559.698 and $471.78.
The FTX token seems to be unstoppable with a series of events lined up for launch. This platform is the best-suited investment in the current uncertain market scenario.
According to Coinpedia’s formulated FTT price prediction, the altcoin would continue buzzing its milestones with constant upgrades this year, it may smash $71.78 by the end of 2021.
On the contrary, market fluctuations and uncertain economic crisis across the world, even failure of upgrades can be a possible setback for the altcoin, and thereby the FTT price may drop to the next strong support zone around $25.82 by the year-end. Considering all viewpoints, the average price of the token would be around $57.89 by the end of this year.
Using the table below understand what is possible in terms of highs and lows.
|Year.||Potential High.||Potential Low.|
FTX Token made its debut in June 2019 with an initial coin offering of $1.76. In the same year after smashing a peak price of $2, the price surged to $4.2 in mid-2020. As the platform was not so active during the initial two years of its launch, the price failed to reach new highs. The coin lingered at $5 for at least 4 months till the month of December in 2020.
FTX token initiated the year 2021 with a trading price of $5.82. On a bullish note, the altcoin started study rise further and smashed $61.25 by mid-May. However, on May 19, the price faced a significant pullback dipping to $24.55. The FTT price failed to regain momentum till late July.
The token’s price had a massive gain thereafter reaching a new ATH of $85.02 on September 9th, 2021. Yet again, market turmoil coming out of China plummeted the price rally dumping the asset’s price to $48.15 on September 21st. Later, the platform announced a sponsorship with Formula One (F1). Hence, forming a rising wedge pattern the price surged by more than 8% on October 10th taking the price to $56.79.
FTT price has faced a heavy rejection at $63.83 as huge sell-pressure built upon that area. The protocol has experienced a prolonged bearish streak of two months, where it has lost 30% of its value reaching $38 by the year’s end.
Yes, if you are planning for the long term FTT looks promising, as the platform is coming up with new events, and also planning to tie up with high-level tech firms.
There are possibilities that the price may surpass $100 and also may hit new all-time highs depending on its new upgrades and how the platform behaves for the market sentiments.
FTX Token can be traded on several exchanges including Binance, OKEx, Huobi, and many more.
FTX Token has the potential to be a profitable short-term investment.
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