FTT hits all-time high, today’s best performing exchange token

cryptoshitcompra.com/wp-content/uploads/2021/09/FTT-alcanza-un-maximo-historico-el-token-de-intercambio-con.jpeg »alt =» FTT reaches an all-time high, the exchange token with best performance today 101 ″ class = »content-img» /> Source: Adobe / Rokas

Popular crypto derivatives exchange FTX Today’s FTT token stood out as the clear winner among today’s exchange tokens, after a significant surge in the past 24 hours that took it to a new all-time high. bull run for the token comes after the exchange’s US subsidiary announced on Tuesday the acquisition of the rival cryptocurrency exchange. LedgerX .

At the time of writing (08:59 UTC), the FTT was trading at $ 66.47, compared to just over $ 50 seen 24 hours earlier and well above its May all-time high of around 63. . USD. exchange token is up just over 31% in the last 24 hours and 34% in the last 7 days.

Today’s sharp price surge followed news earlier this week that FTX International’s US subsidiary, FTX.US , acquired Ledger Holdings Inc. , the parent company of crypto derivatives exchange LedgerX, for an amount not revealed.

acquisition is noteworthy as the regulated crypto derivatives trading market in the US is much less crowded than the regular spot trading market. LedgerX is fully regulated by the US Commodity Futures Trading Commission (CFTC) as an exchange and clearing house for futures and options.

Meanwhile, FTX has also seen strong recent growth in the spot trading segment both internationally and in the US, helped in part by a number of regulatory hurdles that have been placed in the way of Binance , the dominant player in the cryptocurrency spot trading market. Among other things, regulators around the world have lobbied Binance to reduce derivatives offerings in Germany, Italy, the Netherlands, and Hong Kong.

Read also Round of Yellens, Double Mellons, Dogging Coins and 20 Crypto Jokes png »alt =» FTT reaches an all-time high, the exchange token with the best performance today 102 ″ class = »content-img» /> Trading volume 1 year cash on FTX. Source: CoinGecko

Due to Binance’s issues with regulators, some have touted FTX as the next cryptocurrency exchange to challenge the dominance that Binance has enjoyed. This was also reflected in the price of trading tokens over the past 30 days, with binance coin (BNB) currently 48% higher than FTT’s 84% ​​gain over the same period.

png »alt =» FTT hits all-time high, today’s best performing exchange token 103 ″ class = »content-img» /> FTX Token 30-day price chart. Source: CoinGecko

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30-day price chart of Binance coin. Source: CoinGecko

FTX was founded by former equity trader and quantitative analyst Sam Bankman-Fried in 2019. exchange is currently the world’s fourth-largest cryptocurrency exchange by spot trade volume and the second-largest by derivatives volume, according to data. from CoinGecko.

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Learn more: – FTX Confirms Mega Rise As Investors Bet On Crypto Future – FTX Sees ‘Explosive Growth’ With Over 1 Million Registrations This Year

– FTX Boss Bankman-Fried Says $ 10 Billion “Mostly Illiquid”

– Regulators take notice when boasting crypto derivatives traders get caught – Crypto exchange self-regulation begins when regulators begin to start

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