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The FTX token, on the time of writing, was buying and selling at $27.54 and witnessed a spike of 1.54% within the final 24 hours.
The token presents a bunch of utilities and is backed by one of many greatest centralized exchanges within the crypto area. Now, as an investor, you would possibly ask- Might this token be a secure wager in the long run?
On the lookout for a solution
There’s a risk that it is likely to be an excellent funding for the longer term. It’s because FTX, particularly in the previous couple of days, has been exhibiting excessive market cap dominance. 
Supply: Messari
Regardless of volatility across the transaction worth of the FTX token, the metric is at present on the rise.
This merely signifies that extra merchants have an interest on this token.
Supply: Santiment
One other constructive affect of shopping for the FTX token may very well be that many utilities are granted to the token holders.
Token holders need to pay lowered buying and selling charges. They will additionally use the token as collateral in opposition to their bets. And, customers can stake their tokens for a yield as effectively.
Though there have been some positives of the FTX token, there was some degree of criticism as effectively. The unfavourable and constructive sentiments are depicted within the chart given under.
Supply: Santiment
One of many important causes for the criticism was really from the Celsius brief squeeze neighborhood that has voiced their grievances in opposition to FTX.
Moreover, a cause for the resentment in opposition to the FTX neighborhood is their stance against zk money. Nonetheless, issues haven’t been all that unhealthy for the FTX group.
FTX is reported to have grown over 1000% in revenue solely in 2021.
To the moon?
Even in a bear market, FTX has managed to carry out outrageously effectively in opposition to its opponents.
Though the FTX token hasn’t seen related development, the worth does have the backing of one of many greatest exchanges on this planet. And, it may very well be thought-about as a secure wager for somebody seeking to purchase an inexpensive and secure asset for the long run.
