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

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Actual-world adoption and model consciousness are the most effective methods for a blockchain challenge to extend its worth and entice new customers to customers to its ecosystem. 

One challenge that has seen huge development all through 2021 because of 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.

Information from Cointelegraph Markets Professional and TradingView exhibits that after hitting a low close to $50 on Aug. 31, the value of FTT catapulted 42% increased 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 supply 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 changing into the official crypto change sponsor of Main League Baseball, however many really feel that that is the most important growth up to now for the platform as a result of it provides FTX US a novel product within the US market.

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

And simply to point out that it additionally has an ear on the heartbeat of the cryptocurrency group, FTX additionally just lately introduced plans to checklist the up and coming Star Atlas gaming metaverse and NFT ecosystems, a extremely anticipated challenge 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 creator and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer includes danger, it’s best to conduct your personal analysis when making a call.