Despite finding support near $1.25, the FTX Token price prediction remains pessimistic. The majority of the FTT selling tendency has been precipitated by FTX’s insolvency. The cryptocurrency exchange FTX has filed for bankruptcy in the United States and claims to owe roughly $3.1 billion to its 50 largest creditors.
On Saturday, the exchange disclosed in court documents that it owed its top 10 debtors a total of almost $1.45 billion.
Nov 20 (Reuters) – Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, said it owes its 50 biggest creditors nearly $3.1 billion.The exchange owes about $1.45 billion toits top ten creditors, it said in a court filing onhttps://t.co/dsgvmEnglF
— Promo Deals Shop (@FrankVerspeet) November 20, 2022
On November 11, in one of the most publicized crypto blowups, FTX and its affiliates filed for bankruptcy in Delaware, leaving behind an estimated one million clients and other investors with total losses in the billions of dollars. On Saturday, the cryptocurrency trading platform announced that it had begun a global strategic assessment in anticipation of the sale or reorganization of certain operations.
Press Release pic.twitter.com/rgxq3QSBqm
— FTX (@FTX_Official) November 11, 2022
Together with its affiliates, FTX went to court to secure the right to implement a new global cash management system and pay its essential suppliers. According to a statement released by the company’s new CEO, John Ray, FTX would investigate sales, recapitalizations, and other strategic transactions for some of its units.
FTX filed a motion with the court on Saturday, requesting approval to pay prepetition claims to its key vendors in the amount of up to $9.3 million following the entry of an interim order, and up to $17.5 million following the entry of a final order. If the exchange doesn’t get the court relief it’s asking for, it will cause “immediate and irreparable harm” to its operations, it said.
Forbes assessed Bankman-Fried, a 30-year-old crypto professional, to be worth roughly $17 billion just two months ago, thus his current situation is a dramatic downturn.
FTX Token Price Prediction Turns Bearish as Exchanges Delist FTX Token
As the FTX crisis continues to wreak havoc on the cryptocurrency market, multiple crypto exchanges have delisted the FTX Token (FTT). Three cryptocurrency exchanges, Binance, BitMEX, and KuCoin, have delisted FTX Token pairings.
LATEST: Binance, BitMEX and KuCoin have delisted FTX Token pairs from their crypto exchange platforms.
So much can change within such a short space of time. This has truly taken one of the nastiest turns I've ever seen!
— Kyle Chassé (@kyle_chasse) November 15, 2022
Binance, a cryptocurrency exchange, reported in a tweet on November 14 that the FTT/BTC, FTT/BNB, FTT/ETH, and FTT/USDT trading pairs had been withdrawn from its site because they had not passed recent assessments. The FTT/BUSD pair, on the other hand, remains on the market.
At #Binance we conduct regular reviews of listed assets to ensure they meet our standards to protect our users.
Based on our recent reviews, we will remove and cease trading of several $FTT trading pairs on 2022-11-15 04:30 (UTC):
— Binance (@binance) November 14, 2022
Binance made the move in response to community requests to delist the coin. Influencer Cevo encouraged Binance CEO Changpeng Zhao to take action against FTT, urging that all FTX-related assets be delisted in order to protect customers.
BitMEX, in addition to Binance, delisted the FTT perpetual swap contracts. It is valid for the currency pairs FTT/USD and FTT/USDT. The exchange defended the delisting by citing a decline in the pairs’ spot activity. KuCoin Futures, like BitMEX, has delisted its FTT/USDT perpetual contract.
Zipmex has also announced that FTT would be delisted on November 22, 2022. Withdrawals will, however, be permitted until February 14, 2023. As a result of the FTX crisis, the FTT token, FTX’s native coin, was suffering. The delisting of the token, on the other hand, increased the drop in the value of FTT.
FTX Token Price Prediction & Tokenomics
The current FTX Token price is $1.28, and the 24-hour trading volume is $32 million. FTX Token has increased by 0.26% in the last 24 hours. CoinMarketCap currently ranks #209, with a live market cap of $467 million. It has 328,895,112 FTT coins in circulation and a maximum supply of 352,170,015 FTT coins.
FTT is currently trading at $28, with immediate support coming in at approximately $1.25. In contrast, resistance remains at $2.20 or $4. Chances of a downtrend remain strong, and a violation of the $1.25 level can expose FTT price toward $1 or even lower to $0.85.
The overall cryptocurrency market is down due to the FTT collapse, but D2T coin has a nice upside potential.
Dash 2 Trade (D2T)
Dash 2 Trade is a crypto signals platform developed by the Learn 2 Trade team. The platform provides the best insights, trading signals, and tools to help investors make profitable trades.
This Ethereum-based trading platform is powered by the D2T coin. This token’s presale raised more than $6.6 million.
After the presale, the project verified that it would be listed on LBank and BitMart exchanges. 1 D2T is now priced at $0.0513, with the price rising in stages to $0.0662 in the ninth and final steps.
- FTT Price Prediction – Here’s Why You Shouldn’t Try to Catch This falling Knife
- Where to Buy FTX Token (FTT) – Beginner’s Guide
- FTX Files Blank Paper Work With the Bankruptcy Court – Why That Could Be Bad News for Creditors
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