Despite 2 Entities Holding 73% of the FTX Token Supply, FTT Price Still Holds Above $1 per Unit

While a ample fraction of crypto assets dropped a large woody successful worth during the past fewer weeks and bitcoin is down 18.2% successful 30 days, the speech coin ftx token (FTT) inactive trades supra a U.S. dollar per unit. Moreover, the chartless entity known arsenic the ‘FTX Accounts Drainer,’ inactive holds the 2nd largest FTT wallet with 45.85 cardinal tokens worthy $61.44 million.

FTT Remains Above $1 per Unit During the Past 2 Weeks Since the FTX Collapse

It’s been implicit 2 weeks since FTX filed for Chapter 11 bankruptcy extortion and connected that day, FTT was inactive trading for $3.46 per unit. 16 days later, FTT’s terms has consolidated and during the past 24 hours, FTT’s been trading for prices betwixt $1.33 and $1.39 per unit.

In fact, FTT has remained supra a azygous U.S. dollar since Nov. 12, 2022, and it inactive has not breached the debased it saw successful September 2019, backmost erstwhile FTT traded for $1.15 per unit. On Sunday, Nov. 27, the speech token backed by a bankrupt concern has astir $5.26 cardinal successful planetary commercialized volume. This week, FTT tapped a precocious of $1.53 per portion and a seven-day debased of astir $1.23 per FTT.

FTT has remained supra $1 per portion during the past 2 weeks. FTT/USD via Bitfinex connected Nov. 27, 2022.

Since the inception of FTT, the ERC20 token has seen 411,970 transfers according to the blockchain explorer etherscan.io. On Nov. 27, astir 24,874 wallets clasp the FTT token but the largest wallet holds 195,869,338 FTT oregon 59.55% of the full supply.

The second-largest FTT proprietor is the aforesaid idiosyncratic arsenic the ‘FTX Accounts Drainer’ hacker and it holds 45.85 cardinal FTT tokens worthy $61.44 cardinal utilizing today’s speech rates. The Bitdao holds 3,362,316 FTT and Wormhole holds astir 2,818,904 FTT astatine the clip of writing.

Between the largest and second-largest FTT addresses, much than 73% of each the FTT tokens are held by 2 entities. During the past 7 days, determination was astir $7.69 cardinal worthy of FTT transactions greater than $100K. Prior to the FTX illness and bankruptcy filing, Alameda Research held 1 of the largest caches of FTT. The erstwhile Alameda CEO Caroline Ellison has reportedly near Hong Kong to fly to Dubai.

What bash you deliberation astir the marketplace show of FTT token during the past 2 weeks? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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