Review on FTX Token by David Olayide
The FYX Token and FTT
FTX token (FTX) is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading. The project has a mission to solve these problems and move the derivatives space toward becoming institutional grade. For those who don’t have an idea, FTT is the native cryptocurrency token of the crypto derivatives trading platform FTX that was launched some years ago, on May 8, 2019.
FTX is backed by Almeda Research, a popular setup known as one of the leading companies in cryptocurrency trading and one of the largest liquidity providers in the market. The FTT token, has a circulating supply of about 94 million tokens as well as a total supply of about 345 million. FTT features leveraged tokens, which allow traders to put leveraged positions without the need to trade on margin.
The tokens are ERC20 compatible tokens and users can securely store their FTT tokens on mobile wallets like the ledger nano wallet. You can buy, sell, and trade this coin on many cryptocurrency exchanges like HitBTC, FTX, Huobi Global, and Binance. There are other cryptocurrency exchanges that you use too.
One coin currently sells at the price of 48 dollars , and I find this to be very impressive given a couple of factors. I think it will be worth anyone’s time and investing efforts, to indulge in making investments on the project.
Pros
- FTT is ERC20 compatible
- The project is backed by the Almeda Research
- Use of leveraged tokens
- FTT has a good price of about 48 dollars which is quite high for a token
Cons
- Needs mass adoption
