FTT Price: Hope for Recovery?
by Tom Nyarunda
FTT price prediction: Is there hope for recovery?
FTT, the native token of FTX, falling off the pedestal in November 2022, from a price of $22 to under $5 within 24 hours and losing over $2 billion in the same period, was as dramatic as they come.
From the token's all-time-high when the FTT price was $84.18 on September 9, 2021, to trading at an average of $1.20, according to the CoinMarketCap at the time of going to press, some experts predict a bullish trend while others suggest it may not reach the value it had before the fall of FTX.
This article explores the possible movement of FTT price from 2023 to 2030.
What is FTT?
FTT is the native token of the derivative cryptocurrency exchange FTX. FTT is an ERC 20 token that runs on the Ethereum blockchain and needs to be stored in a compatible digital wallet. Like other digital assets, FTT has a value that can be traded besides being used to facilitate financial transactions. The FTX exchange supports FTT's value by regularly repurchasing and burning its tokens.
FTT offers users access to the features and services provided by the FTX trading platform. Encouraging users to hold and use the token creates utility in the entire FTX ecosystem.
FTX Token amassed strength and confidence in 2021 when it hit its all-time high, enabling investors to earn between 150 and 100% profits. Nonetheless, rumors about a "hole" in the exchange's balance books negatively impacted its fortunes, causing the coin to lose more than 80% of its value.
FTT unique features
Users of the FTT token enjoy numerous unique benefits, including discounts on trading fees, lower fees when trading crypto futures, and getting tighter spreads besides using the token as collateral for futures trading. The difference can be as high as 60% for active users on the FTX platform. Other unique benefits include the following:
FTT provides insurance protection to traders to protect them from Clawback. The insurance component offers a net gain during volatile market periods to cushion traders so they can continue without triggering margin calls. This scheme is especially beneficial when using leveraged tokens, which traders can use to take positions that greatly multiply profit and loss potentials.
Holders of the FTT token can participate in staking, a process where holders can lock their tokens in the exchange to help stabilize it and validate transactions to earn a share of the profits. Stakers enjoy other benefits, including free ERC20 withdrawals, IEO tickets, airdrop rewards, additional rebates, and a chance to win free NFTs by spinning the NFT swag wheel.
Other specific use cases of FTT tokens include:
White label solutions: FTX offers a white label variant of their futures market and OTC site designed to attract large investors to purchase FTT.
FTT as collateral: The token is used for users interested in futures trading.
FTT token value: Since the token's value is directly related to any upgrades and expansion on the platform, token holders can expect the value of their holdings to rise as its price increases.
FTT price prediction
The FTT token has consistently shown bearish signs. There are mixed feelings about a slight recovery expected over the coming weeks, with investors waiting on the fringes to take advantage of the dip to buy FTT tokens.
As you may already know, the cryptocurrency market is highly volatile, making a precise FTT price prediction akin to looking for a needle in a haystack. Consequently, no one should take this price prediction as financial advice but as a compass direction to help you make informed investment decisions.
FTX token prediction 2023
As we start experiencing some bullish signs following a slight recovery from the crypto winter, it is expected that FTT will achieve a high of $2.17 as a stepping stone toward recovery. The minimum expected price should be around $1.45, with the average price being $1.81.
FTX token prediction 2024
Should the recovery process go smoothly, and FTT reaches the anticipated new highs this year, the token could hit $3.37 in 2024 and linger around $3.01. However, if the bears return, the token could achieve a minimum price of $2.65.
FTT price prediction 2025
We expect FTT to experience impressive growth in 2025, even as cryptocurrencies continue to make inroads into numerous business sectors. The result would be a price of up to $4.58, some $4.22 on the lower side, and a minimum fee of $3.86.
FTT price prediction 2026–2030
Should capital growth in the cryptocurrency market persist, FTT could close 2026 at around $5.78, averaging $5.42 and lows of $5.06. As the result of anticipated growth during the next five years, we could experience another significant bull market towards 2029 and see FTT achieving a maximum price of $9.40, lows of $8.68, and an average price of $9.04. For 2030, the token could rally toward $10.60 and bottom out at $9.88.
Is FTT a good investment?
The bank run on the FTX exchange and its enormous debts has placed a blot on what was designed to be a good crypto investment tool. This means that investing in FTT is greatly speculative, at least for now.
The short-term FTT price predictions could be more optimistic. Most experts believe investors will get a low ROI until FTX deals with the reputational damage caused by the bank run.
Tom is a freelance writer with over 15-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. He is a philosophical figurehead who believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.