FTT : Token With Potentials
FTT is the native token of the crypto exchange FTX, the token has seen tremendous progress through out its existence. The price of the token is currently above $50, this is expected because of the activities we have seen on FTX. The company has been in existence for slightly 2years and they have been valued to worth $18 billion, they raised $900 million from investors, have gone in to partnership with Miami Heat, TSM, MLB, acquired blockofolio and more to come.
The company has been making big money moves to the extent they are being considered as the closest competitor to Binance. Rumor has it that they might acquire a bank or become a bank, am not sure about that information. These acts have built the confidence investors have on the company, this is the reason they are trooping in to the company. This has also made more people want to buy their token FTT
FTT Utility
They are over 300 million FTT tokens but 90 million is in circulation. They token was claimed to be designed in a way that the price of the token is determined by the use of the FTX platform. Holders of the token get incentives with airdrops, this attracts more people to hold the token. FTT can also be staked to enjoy some benefits like getting additional airdrop, you can also get blockchain fees waived when you stake the FTT token. They also undergo deflationary acts that burns the token weekly.
The token is used to reduce trading fees, there by giving discounts on trading fees.
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