People Are Still ‘Bullish’ About FTT and CEL, 2 Tokens Backed by Bankrupt Crypto Businesses

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Despite the recent collapse and the exchange filing for bankruptcy protection, crypto traders are still paying more than one US dollar for FTX’s FTT token as of Friday, November 18, 2022. FTT was once a top-30 crypto asset, and now the token has no rank on specific coin market aggregation sites due to the locked FTT token entering circulation following the FTX bankruptcy filing.

Bankrupt crypto exchange FTX’s FTT token still trading above $1

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While the collapse of the FTX exchange is a mess and the new FTX CEO said that the former FTX leadership was a “complete failure of corporate control”, and that there was a “complete lack of reliable financial information”, the exchange token FTT is still trading for $1.48 per share. doing unit.

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Despite the fact that FTX filed for bankruptcy, the coin is held by a few concentrated hands, and FTT Contract Deployer has unlocked 192 million previously locked tokens, it is dead for less than a US penny. Crypto coins have not been included in the trading list.

People are still 'bullish' on FTT and CEL, the 2 tokens backed by bankrupt crypto businesses
FTT/USD on Nov 18, 2022 via Bitfinex.

At the time of writing, the 24-hour price range for FTT ranged from $1.46 per unit to $1.62 per FTT. The coin lost around 93.9% during the last 14 days and due to the Contract Deployer incident, it is no longer ranked on coingecko.com.

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However, on coinmarketcap.com, it ranks #209 out of 21,790 listed crypto coins as of November 18, 2022. After reaching its all-time high on Sep 9, 2021, FTT was #25 ranked on coingecko.com and had a market value of $7.76 billion.


Crypto supporters are still ‘bullish’ about crypto coins like CEL and FTT, a social media post says FTT will still rise 3 days after FTX’s bankruptcy filing

Today, FTT has a fully diluted valuation of approximately $485,397,611 and has recorded approximately $16,060,367 in 24-hour global trading volume. According to coingecko.com, “MEXC Global is currently the most active exchange” as of November 18, 2022.

Coinmarketcap.com says “Binance, Coinw, BTCEX, Bitrue, and Tapbit” were the most active exchanges on FTT on Friday. cryptocurrency.com matrix Point out that the most active trading platforms dealing with FTT include Binance, Bitfinex, Huobi, Gate.io, and Bibox.

Cryptocompare.com data further showed that FTT’s largest trading pair on Friday was the stablecoin BUSD, capturing 92.87% of FTT swaps, while Tether (usdt) earns 6.90%. FTT joins a wide range of tokens that were once managed or backed by now-defunct cryptocurrency businesses.

For example, the Celsius token (CEL) is still valued at $0.45 per unit, despite the collapse of crypto lender Celsius. a number The number of people discussing CEL on Coinmarketcap.com (CMC) community posts is still “bullish” about CEL and still to accept In this.

The same can be said for hardcore FTT token fans, as one CMC community post says: โ€œFTT token will rise [in the] In the following days, we are sure they will solve problems and grow up. cmc community post The statement that FTT will increase was liked by over 3,300 CMC community members.

What do you think about the price action of FTT since the collapse of FTX and for those who still believe that FTT will make a comeback? Tell us what you think about this theme in the comments section below.

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Credit : news.bitcoin.com

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