- FTT token price was outperformed by 71% of the top 100 crypto assets in the last year.
- A surge in the FTX token’s trading volume was recorded in the previous 24 hours.
The FTX token price traded flat over the last month, which resulted in a slight advance of 0.33% at press time.
The FTX token’s market cap advanced by 7% in the last 24 hours from the press time. This resulted in a market cap value of $471.391M, the 124th largest cryptocurrency in the global crypto market.
Also, a surge of 97% in the traded volume of the token was recorded, which showed huge demand for the token at press time. Also, the value of the token’s traded volume was $21.182M, which was 4.4% of the token’s market cap.
The top 10 holders of the token held 87.8% of the total supply of the token. Also, the total number of holding addresses for the token was 30.6K. Additionally, the token’s circulating supply and total supply were the same, resulting in 328.895M FTT.
At press time, 7% of the token’s holders were in profit, while 87% of the holders bought the token at a higher price. Also, the large holder concentration for the token was 96%, and 79% of the token holders held it for more than one year.
FTX Token Derivatives Data Analysis
The derivatives traded volume for the FTX token advanced by 14% in the last 24 hours, resulting in a traded value of $1.84M. This was followed by a decline of 2.1% in the open interest of the token.
A strong decline in the derivatives traded volume of the token was recorded over time, followed by a decline in the liquidation activity.
The following behavior of the metrics showed a decline in the interest of investors in the FTX token’s derivatives.
FTT Token Technical Analysis
FTT token price broke out above a descending triangle pattern, followed by a strong decline in the price over a long time.
From the swing high of $5.930, formed in December 2023, the token price declined by more than 80%. The following behavior of the token price led to the formation of a descending triangle pattern.
A few days ago, the FTT token price broke out above the same pattern but witnessed a lack of momentum. This again led to the forming of a small consolidation zone at the breakout level.
A strong uptrend might be witnessed if the token’s price further breaks out above $1.70 with a good surge in volume.
FTX Token Technical Indicator Analysis
The technical indicators on the daily chart of the token exhibited a bearish to uncertain outlook at press time.
FTX/USD Chart by TradingView
The FTT token price had crossed above the 20-day and the 50-day EMAs, while the 50-day and the 200-day EMAs traded in a death cross. This exhibited the overall price trend as negative, and selling can come at a time in the token’s price.
The MACD and the signal line further overlapped in a positive trajectory. This showed the neutral behavior of the token price.
The RSI was also revolving at the 50-level for some time, showing volatility in the token’s price.
The support levels for the FTT token were $1.00 and $1.30, followed by the resistances of $1.850 and $2.740.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
