1D
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FTX Token (FTT)FTT
$52.73
-13.37%
FTX Token (FTT)
FTT Price
$52.73
-13.37%
Rank
#20
Market Cap (24H)
$9.84B
-13.40%
Volume (24H)
$1.43B
132.25%
Circulating Supply
186,657,071
Transp. Vol.
88%
Grade
A gradeA grade
1H1D1W1M1Y
-4.26%-13.37%-22.99%+2.79%+1,305.02%
ETH0x50d1c...355a4c9
ETH
Verify address & DYOR
Contract
ETH0x50d1c...355a4c9
ETH
Verify address w/ multiple resources & DYOR
Websitehttps://ftx.com/
CommunityTwitterTelegramMedium
FTT is an ERC-20 utility token that was created on the Ethereum platform. The token carries out several functions in th...Read more
FTX Token logo
FTT
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USD

FTX Token Price (FTT)

FTT Daily Performance

Today's FTX Token price is $52.73, which is down 13% over the last 24 hours. FTX Token's market cap is $9.84B. 24 hour FTT volume is $1.43B. It has a market cap rank of 20 with a circulating supply of 186,657,071 and max supply of 336,645,797. FTX Token is traded on exchanges. FTX Token had an all-time high of $79.68 12 days ago. Over the last day, FTX Token has had 88% transparent volume and has been trading on 87 active markets with its highest volume trading pairs being .

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FTX Token Statistics

Summary
FTX Token Price (24hr)$52.73 (-13.37%)
Market Cap$9.84B (-13.40%)
Trading Volume (24hr)$1.43B (132.25%)
Transparent Vol. (24hr)
$1.27B88% (155.68%)
Transparency GradeA gradeA grade(Transparent)
Circulating Supply186,657,071 (55.45%)
7D Price Prediction
N/A
API Coverage
1st 1D CandleJul '19
1st TradeJul '19
1st OrderbookJul '19
Exchanges41
Trading Pairs87
Updated1 minute

Price

$52.73
Price Change
-$8.1406 (-13.37%)

All-Time High

$79.68
Date of ATH9/9/2021
Days Since ATH11
% of ATH66.18%
Price vs ATH

Market Cap

$9.84B
Mkt Cap Change
-$1.52B-$1,522,895,542 (-13.40%)
Mkt Cap Rank20
Mkt Dominance<1%
Mkt Dominance

Circulating Supply

186,657,071
Max Supply336,645,797
% in Circulation55.45%
% in Circulation

Volume

$1.43B$1,434,667,776
Vol. Change
$816.94M$816,939,184 (132.25%)
Exchange VolumeUnknown

Transparent Volume

88%
Transparent Volume (Δ)
155.68%
Transparent Volume
A - 88%
C - 10%
D - 2%

About FTX Token

FTT is an ERC-20 utility token that was created on the Ethereum platform. The token carries out several functions in the ecosystem of the platform.

The token was issued by the exchange FTX that was launched in July 2019. The platform offers several innovative trading products for its users with BTC options, 20 perpetual swaps, more than 45 leveraged tokens, prediction markets, MOVE contracts, etc. Holders of FTT get many benefits and can use lower fees on the services offered to them by the community.

The company behind the project is FTX Trading LTD that is incorporated in Antigua and Barbuda. However, the main office of the company is located in Hong Kong. The goal of the resource is to create a platform for traders and develop new products and tools for professional and institutional traders. However, trying to meet the demands of different users, the developers try to make the trading platform intuitive for first-time users as well. The project was incubated by Alameda Research before it was launched.

Being a utility token, FTX token serves its goals strengthening the FTX ecosystem. The customers can get benefits in this way and enjoy lower trading fees along with socialized gains from the insurance fund.

FTX platform

The platform uses the liquidation engine developed by the in-house team. It was designed to prevent a clawback mechanism. The exchange launched many innovative products such as MOVE contracts, leveraged tokens, perpetual futures on popular cryptocurrencies, a single universal margin wallet for derivatives trading, and more. It also introduced an automated OTC desk for traders buying cryptocurrencies in bulk.

The company offers white-labeled solutions of the OTC portal and futures exchange that can be purchased for FTT. Though the platform is still developing, it has already feature-rich functionality as it continues to add new products and features. At the time of writing, the platform plans to launch a spot exchange with FTT used for initial exchange offerings.

FTX token is one of the tokens that can be traded on the exchange along with Bitcoin, EOS, Ethereum, Tether, ChainLink, Ripple, Tezos, LiteCoin, Huobi Token, Binance Coin, and many others. The platform functions as a cryptocurrency exchange, but fiat transactions are also allowed. However, they are available only for users who are Level 3 KYC verified.

FTT financial details

FTX is a utility token that supports the ecosystem of the FTX cryptocurrency exchange. In particular, it is used for fees and can considerably decrease users’ expenditures. It’s possible to reduce the fee for FTT holders, while the percentage of discount depends upon the amount held.

For instance, if FTT holding equals to 100 USD, it reduces FTX fees by 3% but doesn’t provide any other privileges or discounts on FTX OTC. If FTT holding reaches 1,000 USD, the discount on FTX fees becomes 5%, also without any other perks. However, the perks appear after the amount of holding grows up to 5,000 USD. In this case, the discount on the FTX fees reaches 10% and the discount on FTX OTC service becomes 0.0025%.

The figures gradually grow thus raising the discounts on FTX fees and FTX OTC trading. With 1M USD held, the person gets a 40% discount on FTX fee, 0.0150% discount on FTX OTC, and automatically obtains tier 4. With 2.5M USD, the FTX fee discount becomes 50%, FTX OTC discount reaches 0.0200% while a user automatically becomes a VIP client. But even this level can be improved for those who are ready to hold 5M USD. It provides a 60% discount and again 0.2% discount on FTX OTC. The status of a user automatically becomes VIP2, hence provides even more benefits.

FTX token

Being the backbone of the ecosystem, FTT was designed to increase network effects. The team worked carefully to come with complicated incentive schemes motivating the members of the community to use the native token. The scheme was devised to increase the demand of the FTX token, and reduce its circulating supply. For this, the company introduced the token burn system. The platform spends a part of fees to repurchase FTT to burn it. The process will continue until at least half of FTT is destroyed.

The employees of the company perform buy-backs on a weekly basis and then burn the tokens. The amount of these tokens reaches 33% of fees generated on FTX markets, 10% of additions to the insurance fund, and 10% earned from some other services on FTX exchange. FTX token can also be used as collateral on the margin account just in the same way as the stable coins supported by the platform. The platform is in partnership with some stable coin providers such as Circle, TrueUSD, and Paxos. The exchange allows users to deposit these coins to the account and use them as collateral.

FTX platform announced the seed round in August 2019, when it raised 8 million USD. The following investors participated in the seed round: Proof of Capital, Galois Capital, FBG, and Consensus Lab, which was the lead investor. The corporate round took place in December 2020, when Binance was the only outside investor. The amount of the investment wasn’t disclosed. The Series-B round was announced in March 2020 when the company received investments from Liquid Value to cover its expenses on aggressive expansion plans, a new streamlined mobile app, and other purposes. FT token can’t be purchased by users of the US and is also restricted for some other jurisdictions.

FTX team

The platform is led by CEO Sam Bankman-Fried, COO Andy Croghan, and CTO Gary Wang. The team of the company includes specialists who worked for large Wall Street and famous tech companies. There are former Google and Facebook employees among them. With good expertise in equity derivatives trading, they have all resources at their disposal for the development of a leading exchange in this segment of the market.

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FTX Token Markets

(Top 10)
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FTX Token Historical Data

(Past 7 Days)
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Frequently Asked Questions

  • What’s the current FTX Token price? How much is 1 FTX Token worth?

    The price of 1 FTX Token is $52.73. Over the last 24 hours, a FTX Token is worth -13.37% less. Visit our currency converter page to convert FTT prices to currencies other than USD.
  • When did FTX Token start?

    The earliest trading data for FTX Token is on July of 2019 (based on current exchange data).
  • How high can the FTX Token price go?

    FTX Token’s price has gone as high as $79.68 (which is FTT’s all-time high). It achieved this price 12 days ago. Speculations abound for how high FTX Token’s price will get in the future.
  • What's the smart contract address for FTX Token?

    FTX Token's smart contract address is 0x50d1c9771902476076ecfc8b2a83ad6b9355a4c9.

Today's FTT / FTX Token News for September 20, 2021

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