Increasing ecosystem and LedgerX acquisition ship FTX Token (FTT) to a brand new ATH

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Increasing ecosystem and LedgerX acquisition ship FTX Token (FTT) to a brand new ATH

Actual-world adoption and model consciousness are probably the greatest methods for a blockchain undertaking to extend its worth and appeal to new


Actual-world adoption and model consciousness are probably the greatest methods for a blockchain undertaking to extend its worth and appeal to new customers to customers to its ecosystem. 

One undertaking that has seen huge progress all through 2021 due to its growing public publicity and thrilling protocol launches and partnerships is FTX, a crypto-derivatives buying and selling platform based by Sam Bankman-Fried and Gary Wang.

Knowledge from Cointelegraph Markets Professional and TradingView reveals that after hitting a low close to $50 on Aug. 31, the value of FTT catapulted 42% larger to a brand new all-time excessive at $66.50 on Sep. 1 as its 24-hour buying and selling quantity elevated by 200% to $1.675 billion.

FTT/USDT 4-hour chart. Supply: TradingView

The sudden burst in momentum got here following the Aug. 31 announcement that FTX US, the United States-based arm of the change, could be buying  LedgerX, a completely licensed, U.S.-based choices and futures buying and selling platform.

By this acquisition, the corporate will now be capable to provide regulated crypto futures and choices buying and selling to the US market.

FTX has had a busy yr of partnerships and publicity producing strikes corresponding to buying the naming rights for a number of stadiums and turning into the official crypto change sponsor of Main League Baseball, however many feel that that is the most important improvement up to now for the platform as a result of it offers FTX US a singular product within the US market.

Associated: FTX crypto change seals $210M naming rights deal for esports behemoth TSM

And simply to indicate that it additionally has an ear on the heartbeat of the cryptocurrency neighborhood, FTX additionally just lately introduced plans to listing the up and coming Star Atlas gaming metaverse and NFT ecosystems, a extremely anticipated undertaking that appears to seize the surging momentum of the NFT and gaming sectors.

The views and opinions expressed listed below are solely these of the writer and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer entails threat, you need to conduct your individual analysis when making a choice.