Despite 2 Entities Holding 73% of FTX Token Supply, FTT Price Still Above $1 Per Unit – Bitcoin Markets & Price News

While a large chunk of crypto assets have lost a lot of value over the past few weeks and bitcoin is down 18.2% in 30 days, the exchange coin’s ftx (FTT) token is still trading above one US dollar per unit. Moreover, the unknown entity known as “FTX Accounts Drainer” still holds the second largest FTT wallet with 45.85 million tokens worth $61.44 million.

FTT remains above $1 per unit for the past 2 weeks since the FTX collapse

It has been more than two weeks since FTX filed for Chapter 11 bankruptcy and on that day FTT was still trading at $3.46 per unit. 16 days later, FTT’s price has consolidated and over the past 24 hours, FTT has been trading at prices between $1.33 and $1.39 per unit.

In fact, the FTT has stayed above a single US dollar since November 12, 2022, and it still hasn’t broken through the low it hit in September 2019, when the FTT broke. was trading at $1.15 per unit. On Sunday, November 27, the bankrupt company-backed exchange token has a global trade volume of around $5.26 million. This week, FTT hit a high of $1.53 per unit and a seven-day low of around $1.23 per FTT.

Although 2 entities hold 73% of the FTX token supply, the FTT price remains above $1 per unit
FTT has remained above $1 per unit for the past two weeks. FTT/USD via Bitfinex on November 27, 2022.

Since FTT’s inception, the ERC20 token has seen 411,970 transfers according to blockchain explorer On November 27, around 24,874 wallets hold the FTT token, but the largest wallet holds 195,869,338 FTT, or 59.55% of the total supply.

The second largest owner of FTT is the same person as the ‘FTX Accounts Drainer’ hacker and he owns 45.85 million FTT tokens worth $61.44 million using today’s exchange rates. today. Bitdao holds 3,362,316 FTT and Wormhole holds around 2,818,904 FTT at the time of writing.

Between the largest and second largest FTT addresses, over 73% of all FTT tokens are held by two entities. In the past seven days, there have been approximately $7.69 million in FTT transactions over $100,000. Prior to FTX’s collapse and bankruptcy filing, Alameda Research held one of FTT’s largest caches. Former Alameda CEO Caroline Ellison would have left Hong Kong to flee to Dubai.

Keywords in this story

90% Down, Altcoins, Bankruptcy Backed Tokens,,, crypto traders, FTT, FTT Analysis, FTT Markets, FTT Price, FTT Sale, FTT Token, FTT Trade, FTX Bankruptcy, Bankruptcy Filing FTX, FTX Collapse, FTX Fallout, Markets, Prices

What do you think of the market performance of the FTT token over the past two weeks? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news manager for News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for News about disruptive protocols emerging today.

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Leave a Reply

Your email address will not be published. Required fields are marked *