Whereas a big fraction of crypto belongings dropped an amazing deal in worth in the course of the previous few weeks and bitcoin is down 18.2% in 30 days, the alternate coin ftx token (FTT) nonetheless trades above a U.S. greenback per unit. Furthermore, the unknown entity generally known as the ‘FTX Accounts Drainer,’ nonetheless holds the second largest FTT pockets with 45.85 million tokens value $61.44 million.
FTT Stays Above $1 per Unit Throughout the Previous 2 Weeks For the reason that FTX Collapse
It’s been over two weeks since FTX filed for Chapter 11 chapter safety and on that day, FTT was nonetheless buying and selling for $3.46 per unit. 16 days later, FTT’s worth has consolidated and in the course of the previous 24 hours, FTT’s been buying and selling for costs between $1.33 and $1.39 per unit.
In actual fact, FTT has remained above a single U.S. greenback since Nov. 12, 2022, and it nonetheless has not breached the low it noticed in September 2019, again when FTT traded for $1.15 per unit. On Sunday, Nov. 27, the alternate token backed by a bankrupt enterprise has round $5.26 million in international commerce quantity. This week, FTT tapped a excessive of $1.53 per unit and a seven-day low of round $1.23 per FTT.
FTT has remained above $1 per unit in the course of the previous two weeks. FTT/USD by way of Bitfinex on Nov. 27, 2022.
For the reason that inception of FTT, the ERC20 token has seen 411,970 transfers in accordance with the blockchain explorer etherscan.io. On Nov. 27, roughly 24,874 wallets maintain the FTT token however the largest pockets holds 195,869,338 FTT or 59.55% of the whole provide.
The second-largest FTT proprietor is identical particular person because the ‘FTX Accounts Drainer’ hacker and it holds 45.85 million FTT tokens value $61.44 million utilizing as we speak’s alternate charges. The Bitdao holds 3,362,316 FTT and Wormhole holds roughly 2,818,904 FTT on the time of writing.
Between the most important and second-largest FTT addresses, greater than 73% of all of the FTT tokens are held by two entities. Over the past seven days, there was roughly $7.69 million value of FTT transactions better than $100Ok. Previous to the FTX collapse and chapter submitting, Alameda Analysis held one of many largest caches of FTT. The previous Alameda CEO Caroline Ellison has reportedly left Hong Kong to flee to Dubai.
What do you concentrate on the market efficiency of FTT token over the last two weeks? Tell us what you concentrate on this topic in the feedback part under.
Earlier article
A Dozen Digital Property Document Double-Digit Good points as Crypto Markets Start to Heal After FTX’s Collapse
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