When a newcomer enters the crypto market for the first time, one is surprised by the numerous amounts of exchanges that offer a user to buy, sell and trade cryptocurrencies, each with its own unique features and benefits. Alongside them, futures exchanges have also been popping up to meet the growing demand to provide the growing number of traders entering the crypto space with the necessary user-friendly platforms, tools, and information.
One of them, FTX, entered the frey back in mid-2019 and, since then, has been doing quite well for itself. It has a native token, called FTT, which traders can buy and get benefits when conducting their trades.
This FTX token price prediction article will dive down and examine FTX, its token, and what features does it possess that makes it attractive for traders. Essentially, its fundamental. This article will also analyze and forecast a price prediction for the FTT token and illustrate where its heading in both the short-term and long-term.
FTX Token Historical Price Analysis
Since its launch in July 31, 2019, FTX has been one of the few cryptocurrencies that have not yet experienced any significant downtrends in its price. Quite the contrary. It has been experiencing steady growth since its inception. It started with a price of $1.73 in mid-2019 according to CoinMarketCap. About a month after, the price went down a bit, but its effects were only in cents, not dollars. Soon after, it began to steadily climb up again, eventually surpassing its initial price of $1.73 by mid-December 2019.
2020 was a good year for any FTT hodler. Even when the COVID-19 pandemic hit, causing nearly the entire market to plunge down (the price of Bitcoin even fell down to a little more than $5,000 by mid-March!), FTX continued with its slow, but the steady upward trend in price like it was no bad deal. I guess slow and steady really does win the race.
By January of 2021, the price practically exploded, nearly doubling by the time this article was written.
Current Price, Market Cap, & Supply Details
At the time of writing this article, the FTT token is going for $10.17. Its price has increased by +3.46% in the last 24 hours but has seen a -6.96% decrease in the last 7 days.
It currently has a market cap of $958,823,154, which ranks it 44th place in the entire crypto market. Its circulating supply is 94,346,958 with a total supply of 345,219,294. However, it does not have a maximum market cap.
FTX Token (FTT) Future Price Forecast Predictions
While it is always difficult to give out an accurate prediction of where the price of a particular coin will likely go, after looking at its fundamentals, including the growing popularity of using futures exchanges, one can have a very good idea.
With that being said, after reviewing several sources and taking a look at what the futures exchange provides, the price for its FFT token appears to be very positive in both the short and long-term. Wallet Investor has scaled FTT to be very bullish. It even predicted a +82.52% price increase within just a year. That's a price of $18.56 from the current price of $10.17! Within five years, the price could be up to $50.06!
Digitalcoin has also given a very positive price forecast. Within a year, it predicts the price to be from $15.05 to $36.60 to one and five years. Although a bit conservative than Wallet Investor, that is still a +32% and 359% increase on your investment, respectively.
Tradingbeast's price analysis is even more conservative. It actually predicts a decrease in price for the year 2021. However, that is only short-lived, as it then expects the price to go up in the years after. By the end of 2024, it calculated a price average of $16.80.
Short Term Forecast
Long Term Forecast
FTX Token Price Prediction 2021
Based on the chart above, one can expect the price to continue with its explosive growth. It is expected to have an average percentage growth rate of +45.01%, with the price balancing between $14 – $15.50.
FTX Token Price Prediction 2025
2022 is predicted to be another positive year for all FTT hodlers. Around this time, it has been estimated that the price of FTT will almost double. Investors can expect to see a price ranging between a low $15 to a high $19.50.
FTX Token Price Prediction 2025
2025 can be the year where any FTT investor will have the US dollar sign ($) bursting from their eyes. In this year, the price of an FTT token will be anywhere from $25.75 – $34.36. That's an almost +200% average increase!
Is FTX Token a Good Investment?
After analyzing several charts and taking into consideration that we just entered a bull market, there is serious doubt to suggest that investing in FTX is not a good investment. In fact, just holding on to your FTT tokens without utilizing their benefits for trading will almost guarantee a profit. For those that do engage in futures and leverage trading, the wealth that can be generated can be immense, although that is not without serious risks.
How to Buy FTX Token?
One potential drawback for FTX is that there are only a limited number of exchanges that list the FTT token with limited volume. The first one that comes to mind is the FTX futures exchange itself. Other well-known ones are Binance, BitMax, Bitfinex, CoinEx, and Huobi Global. For a complete list of exchanges, please go on over to CoinMarkCap or CoinGecko.
More Information About FTX Token
What is FTX?
FTX is a futures trading platform that was founded back in May of 2019. It is owned by FTX Trading LTD, a company that is registered in Antigua and Barbuda, but with offices in Hong Kong. Their native token is FTT.
The Team & Partners
The founder and CEO of FTX is none other than Sam Bankman-Fried aka, SBF. For those who are not familiar, SBF is the same person that took over and helped save the Sushiswap decentralized platform after its founder, Chef Nomi, pulled off an exit scam that threatened to bring the project down. SBF has many years of experience as both a trader and starting up other companies, namely Alameda Research, the same company that incubated FTX. He graduated from MIT and has a degree in Physics.
FTX's CTO and co-founder is Gary Wang, a software Engineer from Google who also founded Alameda Research. Another graduate from MIT, Gary has a degree in Mathematics with Computer Science.
The rest of the team members are comprised of well-established professionals from various fields.
FTX is also well backed by partners from many well known external establishments. Enterprises such as Binance, Circle, Bitfinex, Paxos Pax, etc have provided FTX with up to $8 million in funds.
To give any FTX trader peace of mind, FTX provides several layers of security features. These include a password account and 2-Factor Authentication for both entering your account, as well withdrawing funds. FTX also provides subaccount security. This is where users can set up their own custom logins if they wish to allow other people to use their account with configurable permissions.
In addition, users can set up to whitelist their IPs and wallet addresses. For those who are unfamiliar, whitelisting is a cybersecurity strategy in which a user can only take actions on their computer that an administrator has explicitly allowed in advance.
Further to adding additional security measures, according to their website, FTX has recently engaged with Chainalysis to monitor any suspicious transaction activities.
As a final measure of security, FTX provides an insurance fund. Given that FTX is a leverage trading platform, the main risk traders have to contend with are market risks. For those who suffer liquidation without receiving sufficient warning, this insurance fund was set up to help recover some if not all of their assets. At the time of writing this article, FTX holds approximately $21.5 million in the US.
Unlike other futures exchanges that have standardized fees, FTX's is a bit more specialized. They have a standard Maker and Taker fees, except their fees are based on volume. Those that have higher volume receive lower fees.
Another way to reduce these fees is to hold onto FTT tokens. You can take a look at the chart below to see how much of a discount an FTT holder can get.
FTX also charges fees of 0.02% on trades with 50x leverage for all markets except for BTC-PERP and ETH-PERP pairs.
A major reason for the trading platform's success has gone to with its various trading products and instruments.
FTX provides a wide range of products. It provides Futures (both perpetual and normal futures), Spot, Stocks, Leveraged Tokens, Volatility assessment, OTC (Over counter) services, prediction tools, and Fiat trading. In order to facilitate trading, FTX provides wide pairing options between cryptocurrencies and stable coins.
And lastly, this brings me to their native token, FTT, the backbone of the platform's ecosystem. As already mentioned, traders holding FTT tokens can receive fees discount. However, they can receive other benefits as well. This includes staking your FTT tokens, including higher referral rates, maker fee rebates, bonus votes, and increased airdrop rewards.
In addition, they have a buy and burn services, where FTX repurchases and burns tokens equal to:
- 33% of fees generated on FTX markets
- 10% of net additions to the insurance fund (‘Socialized Gains')
- 5% of fees earned from other uses of the FTX platform
In reviewing the many beneficial features that FTX offers, it is no wonder why its native token has been on the rise since its launch, even during the 2020 bear market. As more and more retail investors, traders, and institutions continue to pour into the crypto market, it can be expected that the price for FTT will continue with its meteoric rise.