FTT Price Still Holds Above $1 Dollar Per Token

FTT price still trades above $1 dollar, despite the fact that the cryptocurrency assets have seen significant value declines over the previous few weeks and bitcoin has fallen 18.2% in 30 days.

FTT was still trading at $3.46 per unit on the day FTX filed for Chapter 11 bankruptcy protection, which has already been more than two weeks ago. After which 17 days, the price of FTT has been trading in a narrow range between $1.31 and $1.39 a unit even though the FTX Accounts Drainer still holds the second-largest FTT wallet with 45.85 million tokens worth $61.44 million.

Particularly, FTT has not fallen below the point it reached in September 2019 when it traded for $1.15 per unit and remained above one dollar till November 12, 2022. Last week, FTT reached a high of $1.53 and a low of $1.24 per unit.

According to the blockchain explorer etherscan.io, there have been 411,970 transfers of the ERC20 token since the launch of FTT. On November 28, FTT token was present in 24,890 wallets, however, the largest wallet held 195,869,338 FTT which is 59.55% of the total supply.

The second-largest FTT owner known as “FTX Accounts Drainer,” is in possession of 45.85 million FTT tokens (13.94%), which are currently worth $61.44 million at today’s exchange rates. At the time of writing, the Bitdao holds 3,362,316 FTT, and the Wormhole has about 2,818,904 FTT.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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