FTX Token price prediction: Will FTT’s popularity surge continue?

Despite a volatile market, all is not bearish for the native cryptocurrency of the FTX exchange

FTX token in front of a stock chart                                 
A volatile start to the year sent FTT into a downturn – Photo: Shutterstock
                                

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What does the FTX Token power?

The FTX Token (FTT) is the ERC-20 native cryptocurrency of the FTX cryptocurrency exchange. FTX is a highly popular international exchange with 302 tradable assets, outstanding regulatory compliance and a high liquidity rating. As such, FTX recently overtook Coinbase as the second highest-ranking exchange on CoinMarketCap, behind only Binance.

Because regulatory restrictions mean the international FTX exchange is unavailable in the US, the company launched FTX.US, which is compliant with federal and state legislations at the sacrifice of certain features. In particular, FTX.US has 34 assets available for trade, against the international platform’s 302 tradable assets.

FTX gained some notable celebrity endorsements lately. American star footballer Tom Brady, along with his Brazilian supermodel wife Gisele Bündchen, are major investors, while the FTX logo can be seen on all Major League Baseball umpire uniforms. Larry David featured in a 2022 Super Bowl commercial for the exchange.

So what's the latest FTX Token price prediction?

A few token fundamentals

There are currently 13,992,148 million FTT in circulation, against a maximum supply of 352.17 million. With a recent trading price of $43.23, FTT’s market capitalisation is just over $5.9bn, making it ranked number 27 on the crypto market capitalisation chart. A recent 24-hour trading volume of $203.85m constituted 3.5% of market cap. 

FTT has an aggressive burn strategy as a hedge against inflation. In addition, 33% of all fees generated on the exchange go towards purchasing and subsequently burning FTT tokens.

In addition to the FTX exchange, FTT is available on Binance, Bitfinex, Huobi Global and AscendEX. FTT is not, however, available on FTX.US.

Slightly more than 52% of the maximum supply of FTT is held as company tokens, while 105 million are reserved for backstop marketing, backstop liquidity and other insurance purposes.

Latest trading performance

Currently priced at $43.27 against the US dollar, FTT reached an all-time high (ATH) of $85.02 on 9 September 2021, before entering a swift downturn. After the dramatic crypto free-fall during the first week of 2022, the token fell below the $36 support line, although some rejection on 7 January kept the token around the $36.90 mark.

Solid support has been witnessed over the past 12 months, including a strong support bounce in late June/early July. Following a drop to $31.18 on 24 January, FTT regained a lot of lost ground, having traded between $42 and $48 for much of February. The token entered a bullish trend from 13 March, rising 30% from $39.96 to $51.96, although a downturn began from the start of April.

As of 8 April, FTT was trading 45.47% below the ATH.

Digital forecaster overview

FTX Token could experience a slight 8% return over 12 months, according to WalletInvestor, which gives a $46.79 price target. The popular digital forecaster’s FTX Token price prediction for 2025 reached a maximum of $59.90, generating a 38.43% return.

Moving over to DigitalCoinPrice’s more conservative targets, the forecaster’s FTX Token price prediction for 2022 closes out at $57.12, climbing to $201.35 in 2030. The $100 mark is expected to be crossed in 2027.

For a long-term price target, PricePrediction.net presents us with an FTX Token price prediction for 2030 of $1,336.59, equalling a 30-times return.

The FTX Token price prediction at Gov.capital has a fairly bullish sentiment, with a 12-month price point of $138.15 and a five-year forecast of $810.89.

Please note that digital forecasters use set algorithms to determine price targets. While useful as a guide, these should not be viewed as genuine investment advice. In particular, they do not take into account external factors and fundamental analysis.

FAQs

FTX is a stable project that is growing in popularity. FTT could be a good investment in the long term.

However, you should never discount the volatility of cryptocurrency markets. Be sure to conduct independent research, including scrutiny of the white paper, before placing an investment.

In the short term, the FTT price prediction is fairly moderate. Since it is unclear how the latest bout of volatility will play out, FTT could either go up or down in the short term.

Forecasters are generally fairly bullish in their long-term FTX Token price predictions, but bear in mind that these predictions are only useful as a guide, not as genuine financial advice.

Regardless of what you decide to do, comprehensive due diligence is essential before placing any investment in a cryptocurrency. While we aim to provide clear information, this article should not be construed as true investment advice. Be sure to never invest more money than you can afford to lose.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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