What coin is FTT? One article comprehensively introduces the FTT coin project

FTT Coin is the exchange token of the FTX cryptocurrency trading platform, based on the Ethereum blockchain. Its main uses include: Transaction fee discount Collateral use Governance rights income distribution The advantages of FTT coins are to significantly reduce transaction costs, provide leveraged trading capabilities, grant governance rights to currency holders and provide additional income opportunities. However, there are also market risks, exchange risks, regulatory risks and competition risks.

What is FTT coin?

FTT is a native token based on the Ethereum blockchain and is the exchange token of the cryptocurrency trading platform FTX.

Uses of FTT Coin

FTT Coin has multiple uses in the FTX ecosystem, including:

• Transaction Fee Discounts: Token holders can receive discounts on transaction fees on the FTX platform, up to 60 %.
• Collateral: FTT coins can be used as collateral for leveraged trading on FTX.
• Governance Token: FTT token holders have the governance rights of the FTX ecosystem and can make suggestions and vote on platform functions and development direction.
• Revenue Distribution: FTT holders are eligible to receive a portion of FTX transaction fees as revenue.

FTT coin economic model

FTT coin total supply is 330,000,000, of which:

• 50% ​​is used for the initial coin offering (IEO)
• 20% is used for the FTX team and ecosystem development
• 18% is used for platform operations and liquidity
• 12% is used for partnerships and marketing

Advantages of FTT Coin

• Transaction fee discount: Significantly reduce transaction costs and improve transaction efficiency.
• Collateral purpose: Provides traders with greater leverage trading capabilities.
• Governance rights: Give currency holders a say in platform development decisions.
• Income distribution: Provide holders with additional income opportunities.
• Stability: As an exchange token, FTT coin is closely related to the stability of the FTX platform.

FTT Coin Risks

• Market Risk: FTT Coin value is affected by the volatility of the cryptocurrency market.
• Exchange risk: The operating conditions of the FTX platform will affect the value of FTT coins.
• Regulatory Risk: The cryptocurrency industry is constantly affected by regulatory changes that may affect the legality of FTT coins.
• Competitive Risk: FTT Coin faces intense competition from other exchange tokens.

FTX Token (FTT) Price Change

As of 11:00 on August 1, 2024, the price of FTX Token (FTT) is $1.35, with 24-hour trading volume of $9.9M.

Price Change

FTT price fell by 2.81% in the last 24 hours.

Influencing Factors

The price of FTX Token is affected by factors such as the overall sentiment of the cryptocurrency market, regulatory concerns and the performance of the FTX exchange platform.

Future Price Analysis

FTT’s short-term price trend is expected to continue to be affected by cryptocurrency market conditions. If market sentiment turns bullish, FTT could rebound. However, if regulatory concerns intensify, its price could fall further.

Recommended Action

Investors should pay close attention to market dynamics and regulatory developments and invest prudently based on their own risk tolerance.

Short-term trend prediction

If the cryptocurrency market sentiment improves, FTT may show a potential upward trend in the short term. However, prices are still likely to fluctuate due to regulatory concerns.

Main Indicators

• Current Price: $1.35
• 24-Hour Trading Volume: $9.9M
• Price Change (24h): -2.81%
• Floating Market Cap: $444.3M

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