This week has been far from boring on the crypto market: Binance and the US Department of Justice have reached a historical settlement. Against this backdrop, an unexpected gainer emerged: FTX Token, an asset that Binance had a hand in bringing to zero a year ago. Is the token of a disgraced exchange staging a comeback? We will summarize the news about this situation and give an updated FTT price prediction for the next ten years.
All FTX Token Price Predictions: 2023–2033
- A bearish and bullish FTT price forecast in the long term could not look more different.
- Bulls believe that even in the absence of FTX, its native token has the potential to grow and even overtake its ATH of $85 by 2030.
- Bears represent the side of the argument that sees no possibility of a comeback for FTT. Its future, they forecast, is to trade near the current range in the single digits.
What is FTX Token (FTT)?
The FTX Token (FTT) was the native utility token of the FTX cryptocurrency exchange. FTX was a popular cryptocurrency exchange that offered a wide range of trading services, including spot trading, futures trading, options trading, and more.
FTT served several purposes within the FTX ecosystem. Firstly, it functioned as a governance token, allowing holders to participate in the decision-making process for the platform. Token holders can vote on proposals and changes to the FTX exchange, giving them a say in the platform’s future development.
Additionally, the FTT token provided various benefits to its holders. FTX offered fee discounts to users who hold FTT, reducing their trading fees. The size of the discount depended on the number of FTT tokens held and the user’s trading volume.
Furthermore, FTT holders could also access additional features and benefits on the FTX platform. These included exclusive trading competitions, early access to new products and features, and priority access to customer support.
What happened to FTX and FTT? In November 2022, the exchange declared bankruptcy after its insolvency and commingling of user funds came to light. However, as its native token resides on the blockchain, it remains, and although it is currently useless, it is still traded on some exchanges.
FTX Token Price Performance
FTT Price in 2019–2021
FTX Token (FTT) was made available to the public in mid-2019 as the crypto market was still recovering from the crypto winter. At that time, it was worth about $1.7 but in 2020 started to readily accumulate value.
For reference, at the start of 2020, FTT’s opening price was $2.14. Upon the year’s close, its price was already $5.75. However, in 2021 it would go on to reach even more impressive heights.
The crypto market was experiencing the effects of the bull run in Bitcoin that year. Two peaks of it happened in the spring and fall of 2021. FTT too would reach record prices around that time: its historic all-time high was on September 9, 2021: $85.02.
In that bull market, FTX was famously marketing with little to hold them back. Probably the most notorious campaigns were naming rights deals with the Miami Heat Arena and Cal Memorial Stadium, named FTX Arena and FTX Field respectively. FTX also advertised in the 2021 Super Bowl to millions of Americans, splurging on some of the most expensive ad slots in the world.
FTT Price in 2022–2023
Unfortunately for the crypto market, Bitcoin stopped its bull run at the mark slightly above $60 thousand. The correction started in 2021 but would go on into 2022, locking the entire crypto market into a downtrend.
The value drying up started to see some dominoes fall one after the other: some of the most impactful collapses included BlockFi’s and Celsius’ bankruptcies and Terra’s ecosystem implosion. FTX and FTT’s price absorbed these crises but still lost some value in the process. At the start of 2022, FTT was worth around $40 but by the mid-point of the year its price was $24.56.
And yet, the worst was yet to come for FTX: by November, rumors of insolvency and critical faults in operations became hard to ignore. FTX’s CEO Sam Bankman-Fried and the team attempted to salvage the looming bank run, exacerbated by Binance’s machinations, but ultimately had to declare bankruptcy on November 11, 2022. On the news, FTT crashed from $22 to $2 and kept going down for the rest of the year.
Even after all that, FTT ended up well above zero, beaten but not defeated. 2023 saw it occasionally rise to $2 and $2.5 on the news about FTX bankruptcy proceedings. At the moment, the FTT price is pumping to yearly highs for the reasons we will describe below.
The FTX Token (FTT) price today at the time of writing is $4.71 and the token ranks 41st by market capitalization (according to CoinMarketCap).
What affects the FTX Token price?
Binance’s Legal Trouble
With FTX being defunct and proceeding with bankruptcy, there are not a lot of reasons for the FTT price to move. At least, not the fundamental ones. However, crypto investors might want to keep an eye on the news and some curious data.
On November 21, 2023, when most cryptocurrencies were losing value, FTT ended up being one of the few tokens to be in the black. What is more, it even was ahead of most altcoins that did see an upside move. What happened that day?
For the crypto industry, it was a rather historic date: Changpeng Zhao, also known as CZ, announced he would be stepping down as the CEO of FTX’s rival exchange Binance. This step was only a small part of the settlement with the US SEC: CZ and Binance also pleaded guilty to violating the money laundering regulations and agreed to pay an unprecedented fine of $4.3 billion. The settlement also stipulated that from now on, Binance will stay under the OFAC monitoring for the next five years.
In other words, Binance’s fate could be worse but is grim nonetheless. But for the remainder of the FTX team and FTT holders this is a taste of justice. Binance and FTX go ways back, with the former having a stake in the latter until 2022. CZ’s announcement of this stake’s sale was a catalyst for the collapse of FTX.
A Santiment’s recent post provides facts to back up this claim: they concluded that traders were even switching camps and trading BNB for FTT.
FTX Reboot
Another topic that keeps the holders hopeful is rumors swirling around a potential relaunch of the exchange. Nothing is set in stone as of the time of writing but some see it as a “buy the rumor, sell the news” opportunity.
There have been a handful of headlines that fanned the flames in November alone. Firstly, the lawyers confirm the outreach with proposals to sell the brand assets or relaunch the exchange altogether. Then there was a new Backpack Exchange by the former FTX executives. Not to mention, the SEC Chairman Gary Gensler went on record to reassure the authorities would not mind FTX reopening — with proper bookkeeping and compliance, of course.
It needs to be said that it is not like people are rooting for the return of FTX. The damage of its collapse has surely turned the crypto community against the exchange and eroded almost all trust. Rather, it is a hope that FTT can be worth something once again.
Market Sentiment
The overall sentiment on the crypto market is another factor that certainly influences the price of FTT. Even though we have seen it go against the tide, generally it is more likely to be in profit when other cryptocurrencies are also seeing gains. And vice versa, when the majority of the market loses value, FTT is likelier to end up losing as well.
What is the sentiment on the crypto market today? Check the live index below.
FTX Token Price Forecast and Analysis by ChangeHero
As it stands, any value FTT has post-2022 is purely as a speculative asset and the chances of it ever regaining double-digit prices are exceedingly slim. At the same time, we think it is reasonable to analyze FTT in its current paradigm, so let’s take a look at how well it has been doing in 2023 so far.
With the help of the news and volume surge, FTT has established a channel between $3.08 and $3.637 and broke out of it to $4.7. However, with the volume drying up and the relative strength index entering an overbought area, claiming it has established higher support levels is premature. In the near future, we expect FTT to pull back to near $4.3, especially as more FTT holders will sell the appreciating token.
FTX Token Price Prediction 2023
How much will FTX Token be worth in the near future? Let’s hear what analysts think.
According to Aaryamann Shrivastava, a writer for FXStreet, the price of FTT tokens in 2023 will not experience any fundamentally positive changes. However, the retail FOMO certainly can drive the price up occasionally. In the short term, bulls and bears will watch the FTT price in the range between $2 and $4.55.
YouTuber Cilinix Crypto also sees the current key resistance of FTX Token at $4. He believes that at the moment the outlook and current sentiment for FTT is bullish for a change because of the news surrounding Binance. The next level, if the breakout plays out, is $5 and beyond but he still gives more plausibility to this surge falling short and consolidating.
According to Elena R from Coinpedia, FTT is enjoying enough volume and price action to really fly on any positive news. There is optimism that a successful relaunch of FTX could be a game-changer for FTT’s price. By the end of 2023, it is estimated that FTT’s price could reach a maximum of $5.78. On the other hand, if the anticipated breakthrough does not occur, the minimum price for FTT in 2023 could be $2.32.
FTX Token Price Prediction 2024
Based on the data by Gov.capital, the outlook for FTT holders in 2024 appears to be optimistic. Exactly a year from now, in November 2024, FTT could be worth $22.95. This represents a 628% growth.
In contrast, the algorithmic forecast by CoinCodex does not create major expectations. According to their FTX Token’s (FTT) price prediction for 2024, in exactly a year, its expected price is $5.60. At the start of 2024, FTT may cost $4.33.
According to the Economy Forecast Agency, FTT is not going to see better days in 2024. February 2024 would see the yearly maximum price of $4.74. However, the following months would see FTT decline down to a yearly minimum of $2.03 in December 2024.
FTX Token Price Prediction 2025, 2028
Expert opinions and estimates are more suitable for short-term predictions. As we look further into the future, algorithms that utilize historical analysis become more reliable.
OvenAdd presents a bullish yet reasonable outlook for FTT’s future. According to their price prediction, FTT’s average trading price in 2025 is expected to range around $7.30. In five years, FTT is projected to trade within the range of $12.88 to $13.41.
The projections made by Telegaon for the FTX Token (FTT) market are even more bullish. The grain of salt here is their bet on the community: it is highly arguable there are a lot of FTX believers. Regardless, they anticipate that the average price of FTT will increase to $9.64 by 2025, and continue to rise to $48.14 by 2028. This indicates an expectation of strong growth potential for FTT in the coming years.
Based on the Digital Coin’s analysis, they are as optimistic about the price forecast for FTX Token (FTT). According to their estimations, the average price of FTT in 2025 is projected to be $13, with the potential to rise as high as $15.05. Looking further into the future, in five years’ time, the price of FTT could range anywhere from $19.71 to $22.68. These projections suggest a positive outlook for the future value of FTT.
FTX Token Price Prediction 2030, 2033
For the FTX Token price forecast at the end of the decade and even ten years in advance, let’s refer to historical and algorithmic analysis.
According to the Coin Price Forecast, they anticipate FTT in 2030 to reach a maximum value of $23.29 by the end of the year. Similarly, in 2033, the forecast suggests that FTT could potentially reach a maximum price of $28.13.
According to AMB Crypto’s forecast, a meteoric price rise of FTT is likely. In 2030, the price range for FTT is expected to move up to $307.95–461.93. Looking ahead to 2033, a decade from now, the forecast suggests that the FTX Token will continue to trade steadily above $512.46 and potentially reach a maximum price of $768.69.
Among all the reviewed FTX Token price predictions, the forecast by Traders Union stands out as one of the most bearish for the long term. According to their prediction, in 2030, FTT is expected to reach a price range of $2.19–2.28. In line with the bearish expectations, they believe that ten years from now, the maximum price of FTT could rise to only $2.937 by the end of 2033.
How to Exchange FTX Token (FTT)?
Whether you feel like getting FTT on the off-chance that FTX 2.0 happens or want to offload it before it dumps back to zero, ChangeHero can help. Swap FTT with 200+ coins and tokens at the best rates, in a few steps without obligatory KYC or registration.
- Choose the currencies on the home page, amounts, and the type of exchange. Provide your FTT wallet address in the next step and check the details;
- Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
- Send the cryptocurrency for the swap in a single transaction. In a Fixed Rate transaction, you have 15 minutes before it expires;
- Sit back and relax. Now we are doing all the work: checking the incoming transaction and making the exchange as soon as it arrives;
- As soon as the exchange has been processed, your FTT is on its way to your wallet. And so, the transaction is finished!
The support team is here to help you 24/7, and in any case, reach them in the chat on the website or through the email: [email protected].
Conclusion
FTX Token today is a black sheep among the exchange tokens. It is virtually useless but traders and holders still flip it in hopes that they can extract some value from FTT.
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Frequently Asked Questions
Is FTT a good investment?
FTX Token (FTT) at the moment has no real use cases, and the FTX exchange of which it was a utility token is defunct. Therefore, it is not recommended to use it as an investment. It is finding use as a speculative asset among traders but using it as such can be recommended only after doing your research.
What is the price prediction for FTT in 2025?
Different sources provide a possible range in which FTT can change hands in 2025: from $6.81 to $15.05.
Is FTT an FTX coin?
Yes, FTT stands for FTX Token. When FTX was operational, it was used to pay exchange fees with a discount and avail of exclusive services for FTX users.
How much is the FTX token worth today?
At the time of writing, the current FTX Token price is $4.71.
Disclaimer
This article is not a piece of financial or investment advice. No price prediction is guaranteed to provide exact information on the future price.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investing in cryptocurrencies only after careful consideration and analysis of your own research and at your own risk.
