Growth of the ecosystem and acquisition of LedgerX ship FTX tokens (FTT) to a brand new ATH

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Actual world acceptance and model consciousness are among the finest methods for a blockchain venture to extend its worth and entice new customers to its ecosystem.

One venture that has seen large progress in 2021 because of elevated public consideration and thrilling protocol launches and partnerships is FTX, a crypto derivatives buying and selling platform based by Sam Bankman-Fried and Gary Wang.

Knowledge from Cointelegraph Markets Professional and TradingView present that after hitting a low close to $ 50 on August 31, the worth of FTT catapulted 42% to a brand new all-time excessive of $ 66.50 on September 1 as its 24-hour buying and selling quantity rose 200% to $ 1.675 billion.

FTT / USDT four hour chart. Supply: TradingView

The sudden surge got here after the August 31st announcement that FTX US, the US-based department of the change, would purchase LedgerX, a totally licensed US-based choices and futures buying and selling platform.

With this acquisition, the corporate will now be capable to provide regulated buying and selling in crypto futures and choices to the US market.

FTX had a busy yr of partnerships and promotions like shopping for the naming rights to a number of stadiums and turning into the official Main League Baseball crypto change sponsor, however many feeling that that is the most important improvement so far for the platform because it provides FTX US a novel product within the US market.

Associated: FTX crypto change seals naming deal price 210 million US {dollars} for esports large TSM

And simply to point out that it additionally has an ear on the heart beat of the cryptocurrency group, FTX additionally not too long ago introduced plans to checklist the rising Star Atlas Gaming metaverse and NFT ecosystems, a extremely anticipated venture aimed on the growing dynamics of the NFT and gaming sectors.

The views and opinions expressed are these of the creator solely and don’t essentially mirror the views of Cointelegraph.com. Each step of investing and buying and selling includes threat, so you need to do your individual analysis when making a call.