The FTX token (FTT) has climbed by 1.54% during the last 24 hours and was currently trading at £23.4 at press time.
Besides having a number of utilities, FTT has the backing of one of the top centralised exchanges in the cryptocurrency industry.
It is possible that it will turn out to be a wise investment in the future. This is due to FTX’s recent dominance of high market caps, particularly during the past several days.
The token’s transaction value is currently rising, even though the metric is susceptible to volatility.
On the other side, this shows that more and more traders are considering this asset.
The fact that token holders receive several utilities may be another benefit of buying FTT.
Holders of the FTX token pay lower trading commissions. The token can be used as collateral against bets as well. Additionally, users can stake FTT to earn a yield.
The FTX token has received some favourable reviews, but there has also been some criticism.
The Celsius short squeeze community, which has complained about FTX, was one of the main sources of criticism.
Furthermore, the FTX community’s opposition to zk money is a factor in the hostility people feel toward them. For the FTX camp, things haven’t exactly been bad.
According to reports, FTX’s revenue increased by more than 1000% just in 2021.
In fact, even during a bear market, FTX has outperformed its rivals by a wide margin.
While the FTX token has seen only a moderate growth, one of the major exchanges in the world backs its price. For someone trying to buy a safe and inexpensive asset for the long term, FTT could be one of the top options to consider.