FTX is a popular place to buy and sell cryptocurrencies. The token of the project is also showing promise based on current trends.
As a result, many investors are thinking of putting their money on the token. However, is that a wise decision?
Let’s discover more in our FTX price analysis for 2022.
What is FTX?
FTX is a Bahama-based crypto exchange. It allows users to buy and sell crypto coins from mobiles and computers.
Additionally, FTX offers a range of crypto financial products. Moreover, you could trade in different fiat currencies like USD or the Canadian dollar.
It has over a million users from all around the world and a 24-hour trade volume of $7,533,934,766.
What is the FTT Token?
FTT is the native token of the FTX exchange. It can come in handy for different purposes like enjoying lower trading fees on the platform.
Additionally, FTT tokens can act as collateral for different financial products. FTT holders can also deposit their tokens in fund pools and earn back interest.
Moreover, people who own FTTs can stand a chance to win non-fungible tokens or NFTs. They generally give you ownership of digital artworks or graphics.
FTT tokens have a market cap of $5,619,590, as per data from CoinGecko.
FTT Price Analysis for 2022
FTT is priced at $40.65 at this moment, as per CoinGecko. The cryptocurrency has a rank of 26 and primarily positive predictions. But before we go into that, let’s check out FTT’s 2021 performance.
FTT opened the year at $5.77 on January 2021. By May, the price of the token shot to $54.89. However, FTT came down to $48.64 in September 2021. Yet, the coin attained its all-time high of $84.18 on September 9. And by the end of the year, FTT was selling at 38.91.
FTT has a relatively better start in 2022. The token grew in value by 6.2% in the last 30 days. According to PricePrediction, FTT may sell at $48.59 by May 2022. They predict the price could climb to $53.63 by September and $59.18 by the end of the year. Additionally, FTT may achieve the highest price of $69.78 and the lowest of $57.12 when 2022 ends, as per PricePrediction.
Gov Capital has a more positive prediction about the coin. It thinks FTT could climb to $76.03 in May 2022. They think by September, the token could surge to $95.02. And when the year ends, FTT’s price may increase to $103.05. Moreover, they feel the maximum price might be $118.50, and the lowest could be $87.59.
Now, let’s take a look at what Wallet Investor has to say. It predicts the price of FTT to increase to $71.11 by May 2022. Also, in September, they feel the token could list on exchanges for $77.01. And by December, you may have to buy FTT for $76.97. In addition, the highest price may peak at $87.14, while the lowest may drop to $67.23, according to Wallet Investor. They also call FTT an “awesome” option for investments of one year or more. It predicts the token will reach a value of $248.64 in another five years.
Best of all, FTT has increased by 253.8% in the last 365 days, as per CoinGecko. So, the trend may continue for the current year.
In addition, the growth of the FTX platform can push the prices higher. The company is also valued at $18 billion and gathered the trust of countless users.
Overall, we can expect a positive trend of FTT for 2022.
FTX seems to be a suitable choice for investors. All predictions point to an increase in value for 2022, which can bring in more returns. However, crypto prices can turn volatile and change without notice. So, research before you invest to minimize your risks.