• This is why now could be an excellent time to purchase FTX Token

  • FTX Token FTT/USD is the native exchange token used throughout the FTX ecosystem.

    It acts as collateral for future positions, and users can save money on trading fees while also receiving OTC rebates.

    The new funding round as a growth catalyst

    On Thursday, October 21, FTX announced the completion of a Series B-1 financing round. They did, in fact, raise $420 million from 69 different investors.

    According to the announcement, the latest financing includes participation from Sea Capital, IVP, ICONIQ Growth, Temasek, Sequoia Capital, Tiger Global, Ribbit Capital, and Lightspeed Venture Partners, among others.

    This is in addition to the $900 capital raise in July, and FTX stated that Temasek participated in the Original Series B round, bringing the total raise to $1 billion.

    With all of the funding raised thus far, the company is valued at $25 billion.

    The company also revealed that its crypto asset trading volume averages around $14 billion per day, and that it recently established its global headquarters in the Bahamas.

    FTX also obtained licenses in the island territory and adopted the regulatory policies of the Bahamas and Gibraltar.

    This will undoubtedly propel FTX to new heights, and as a result, the FTX Token (FTT) has the potential to do the same.

    Should you buy FTX Token (FTT)?

    On October 22, the value of FTX Token (FTT) was $64.38.

    To gain a better understanding of the token’s current value, we will compare it to its all-time high value as well as its performance in September.

    FTT reached an all-time high value of $84.18 on September 9, 2018. This means that the token was worth $19.8 more at its all-time high, representing a 30% increase.

    However, on September 29, the token dropped to $48.15, its lowest value point in September.

    The token’s value decreased by $36.03, or 42 percent, between September 9 and September 29.

    However, between September 29 and October 22, the token’s value increased by $16.23, or 33 percent, indicating greater growth potential.

    Within the last seven days, the FTX Token (FTT) saw $396.86 million in transactions worth more than $100,000.

    However, in the last seven days, FTX Token saw $70.93 million in total exchange inflows and $70.02 million in total exchange outflows.

    The FTX Token (FTT) has the potential to reach $70 by the end of October.

    What's your reaction?