FTT is the native cryptocurrency token of the FTX crypto derivatives trading platform, launched on May 8, 2019. Today it is down about 6%. Is this drop temporary, or does it indicate a longer-term trend? Read this guide to help determine whether you should consider buying FTT and where to buy it now.
Best places to buy FTT today
What is FTT?
The team behind FTX includes some of the most prominent crypto traders from recent years. After encountering issues with many traditional crypto derivatives exchanges, they launched their own platform. FTX says it differentiates itself through features such as bankruptcy protection mechanisms, a centralized collateral pool, and unified settlement for stablecoins. Regarding bankruptcy protection, many customers on other derivatives exchanges have seen funds affected by socialized losses. FTX aims to reduce that risk by using a three-tiered liquidation model.
Should I buy FTT today?
The recent decline could be temporary, given that FTX is a well-established exchange run by an experienced team. To better understand possible future price direction, consider reviewing a range of price forecasts and doing your own research.
FTT price forecast
One price forecasting service projects that FTT, trading near $41 at the time of assessment, could reach at least $62 in 2022 and potentially climb to $77 by the end of the following year. Their outlook for 2023 suggests a minimum of $86, a potential maximum of $101, and an average price around $89. For 2024, the same forecast estimates a minimum price of $127, with a year-end high near $149 and an average of $131.
For 2025, this forecast indicates a possible low around $184 and an upside target near $223.
FTT on social media
$43 is strong support for #FTX token. It also has the support of FIB 61.8%. We could expect consolidation around this level before we reach the above targets based on previous highs. pic.twitter.com/XtABmWfCHj
— Bitcoinsensus (@Bitcoinsensus) November 28, 2021