Should you invest in the FTX Token (FTT) on January 18, 2022?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Jan 18, 2022
  • FTX Trading Limited (FTX) will be the naming rights sponsor for Australian Blockchain Week 2022
  • Blockchain Australia is one of the largest industry networks in Australia.
  • The FTT token has seen an increase in its trading volume by 11% in the last 24 hours.

The FTX Token FTT/USD is the native cryptocurrency token which powers the crypto derivatives trading platform FTX that originally launched on May 8, 2019.

Through having FTX tokens, users can gain lower trading fees, as well as access to different perks throughout the FTX exchange.

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The Australian Blockchain Week 2022 sponsorship as a catalyst for growth

On January 4, we covered how Sam-Bankman-Fried, the CEO of FTX, discussed the crypto regulations which will be introduced throughout 2022.

On January 17, 2022, Steve Vallas made an announcement on Twitter where he said the following: “I’m incredibly excited to announce @FTX_Official as the Naming Rights Sponsor for Blockchain Week 2022.”

In other words, FTX Trading Limited (FTX) will be the naming rights sponsor for the Australian Blockchain Week 2022, which will run from March 21 to March 25 of 2022.

It will include over 200 speakers across 75 events, which include the FTX CEO, Sam Bankman-Fried.

Sam Bankman-Fried specifically noted that the partnership comes as the first iteration of its focus on supporting long-term growth within the Australian market.

All of this has the potential to increase the awareness of the FTT token in Australia as well as different parts of the world, which in turn could contribute to the growth of the FTX Exchange as well as the growth in value of the FTT token.

Should you buy FTX Token (FTT)?

On January 18, the FTX Token (FTT) had a value of $44.149.

As a means of figuring out exactly what this value point means for the FTT token, we will go over its all-time high value alongside its value point throughout the month of December.

The all-time high value of the FTT token was on September 9, 2021, when it reached a value of $84.18. Here, we can see that, at its ATH point of value, the token was $40.031 higher in value or by 90%.

When we go over the token’s performance throughout the previous month, we can see that, on December 1, the token had its highest point of value at $51.54.

Its lowest point of value, however, was on December 17, when it decreased in value to $36.29.

This gives us an indication that the token has decreased in value by $15.25 or by 29%.

With this in mind, FTT has the potential to reach $50 if it breaks $44.149 by the end of February 2022, making it a solid purchase.

Where to buy right now

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*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.