Arslan Butt
Even though it has been over two weeks since FTX filed for Chapter 11 bankruptcy protection, the FTX Token (FTT) coin has performed well in recent hours. However, the reason for its upward rally could be attributed to an upbeat crypto market, which tends to underpin many cryptocurrencies, including the FTX Token.
The weakening of the US dollar, which tends to go in the opposite direction of the cryptocurrency, helped the FTX Token rise. On the negative side, the FTX already filed for Chapter 11 bankruptcy protection more than two weeks ago.
BlockFi, a cryptocurrency firm with ties to FTX, has filed for Chapter 11 bankruptcy protection after being exposed to the spectacular collapse of the FTX exchange earlier this month https://t.co/qwGORSfxUh pic.twitter.com/1qFIXdog7m
— Reuters (@Reuters) November 29, 2022
The FTX crisis, which was already a bad story, got even worse when a few hackers broke into the exchange early this month. This news was viewed as one of the key factors that limited any further gains in the FTX coin.
The current live FTX token price is $1.34, with a 24-hour trading volume of $15 billion. FTX Token slipped by more than 6% the previous day. It’s currently ranked #209 on the market and has a live market value of $442 million.
There are currently 328,895,112 FTT coins in circulation, with a total supply of 352,170,015 FTT coins available.
FTX Hack Keeps FTT Lower
Earlier this month, hackers stole approximately $400 million in bitcoins from the Bahamas-based cryptocurrency exchange FTX. According to reports, the anonymous hacker is currently one of the wealthiest Ethereum holders, with only 34 wallets on the Ethereum blockchain has more digital cash than him.
Bankrupt cryptocurrency exchange FTX is probing a potential hack and more than $400 million worth of crypto funds appears to be missing https://t.co/qWAwohCn5t
— The Wall Street Journal (@WSJ) November 12, 2022
However, the already dire FTX situation deteriorated further when a few hackers gained access to the exchange early this month. According to new information, the FTX hacker used ChipMixer to send $4.1 million in Bitcoin to OKX.
The FTX "hacker" sent (255 BTC) $4.1m to the crypto exchange OKX.
Sauce: @Zachxbt pic.twitter.com/tD4dvmaxPS
— Coinsauce (@CoinsauceCrypto) November 29, 2022
As a result, this move sparked a wave of panic selling throughout the cryptocurrency community, further eroding investor confidence.
Upbeat Crypto Market
The global cryptocurrency market has done well and has been aided by a number of factors. Bitcoin (BTC) and Ethereum (ETH), two of the most valuable cryptocurrencies, were able to reach $17,000 and $1,200 early on Wednesday, respectively.
Furthermore, the well-known cryptocurrencies Litecoin (LTC), Ripple (XRP), and Dogecoin (DOGE) all increased in value. However, the Fantom (FTM) token was the biggest gainer on the day, rising by more than 9.51 percent in a single day. As a result, the bullish cryptocurrency market was thought to be a major driver keeping FTT coin prices high.
FTX Down Despite Bearish US Dollar
Another important factor supporting BTC prices was the weak US dollar, which fell from a one-week high ahead of a speech by Federal Reserve Chair Jerome Powell. The US dollar index, which measures how the dollar performs against six major currencies, fell 0.22% to 106.64 after reaching an overnight high of 106.90.
Following that, Powell will deliver a speech on the state of the economy and the labor market at the Brookings Institution in Washington at 18:30 GMT.
According to financial markets, the probability that the Federal Reserve will only raise interest rates by a half-point on December 14 is 63.5%, and the probability that rates will rise by an additional 75 basis points is 36.5%.
3 Coins Can 20x Upside Potential
On the cryptocurrency market, many new currencies are available, providing investors with a diverse range of options. Dash 2 Trade, Calvaria, and RobotEra are some of the best coins to buy.
Let’s take a look!
Dash 2 Trade (D2T)
Dash 2 Trade is a platform for cryptocurrency analytics, and it’s a decentralized trading platform that allows users to backtest their strategies and see how they performed in the past. It benefits traders because it will enable them to carry out transactions automatically without human intervention. Several Dash 2 Trade platform features will be very useful to investors.
Trading signals can also alert investors to market opportunities and encourage them to buy or sell. Adopting strategies and trading may go much more smoothly than they would otherwise with the assistance of strategy builders and social trading tools.
Following the presale, the project will also be listed on the BitMart and LBank exchanges. Dash2Trade’s native D2T token powers the platform, and despite the fact that the presale has only recently begun, it is rapidly approaching the stage 3 conclusion.
D2T, the platform’s native token, will be used to pay for platform services and participate in community initiatives and competitions. The cryptocurrency is available for presale and has raised over $7.6 million. Its presale is nearing completion and is nearly 87% complete.
Calvaria (RIA)
Calvaria, a free-to-play game, deviates from the norm of pay-to-earn gaming by awarding NFTs to players as soon as they sign up. As a result, neither financial resources nor technological expertise is required for participants to participate in the game.
By making it easier for investors, the network hopes to increase the adoption of Web3b gaming. The barrier to entry for non-crypto players is one of the main reasons Web3 games haven’t taken off more widely.
Calvaria intends to address this by granting all game features to non-crypto players. Calvaria rewards players for engaging in battle with one another while using trade cards or NFTs. The RIA ERC-20 token will power the Calvaria ecosystem. It is the governance token for the platform.
Calvaria’s early-round fundraiser drew a lot of attention from investors, and only 19% of its presale token supply is still available for purchase before it hits exchanges. The first four stages of its presale were quickly sold out, and stage 5 is already 70% sold out. If investors want to buy 30.77 RIA tokens for USDT 1, they must act quickly before the presale ends.
Calvaria has raised about $2.1 million since the presale began. When stage 5 is completed, the total funding for the project will be $3,075,000.
RobotEra (TARO)
RobotEra is a Play-to-Earn game where players can build their own planet in the Metaverse. Each player represents a Robot, and these are the main RobotEra NFTs. Players can use robot friends to help them rebuild the wrecked planet Taro, increasing the value of metaverse plots of land. All gamers who enjoy creating and maintaining games will find several options on the network.
In RobotEra, players can earn active and passive revenue by doing quests, participating in community activities and concerts, planting holy trees, mining, staking, and a variety of other activities. Furthermore, Lbank Labs has offered the initiative financial and advisory assistance to ensure its success.
The RobotEra pre-sale began on November 9. It is one of the most popular presales for 2022, and it serves as the multiverse’s medium of exchange. If you have USDT or ETH in your wallet, you can buy tokens directly.
Currently, 0.020 USDT equals 1 TARO. The first presale will end soon, with a $0.025 price increase. The platform’s native token, TARO, is now on presale and has raised more than $284,000.
Related news:
- Top Altcoin Prices Are Turning Lower Today, But Here’s 3 New Coins to Accumulate
- Best Crypto to Trade Right Now
- 20 Best Cryptocurrencies to Invest in 2022
Dash 2 Trade - New Gate.io Listing
- Also Listed on Bitmart, Changelly, LBank, Uniswap
- Collaborative Trading Platform Token
- Featured in Bitcoinist, Cointelegraph
- Solid Proof Audited, CoinSniper KYC Verified
- Trading Community of 70,000+ Members
This article was written for Business 2 Community by Arslan Butt.
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