Interestingly, unlike the collapse of Terra and its native token LUNA plunging to zero, FTT fell from $25.78 on November 5, 2022, to around $1.59 on November 14. three days after FTX filed for bankruptcy protection.
FTT bounced to $1.92 the next day, November 15, and has not seen that price since. For 38 consecutive days since November 12, FTT has stayed below $2 and above the $1 range, and hit a high of $1.88 on December 9. Eleven days later, FTT struggled and for the first time since its release, it hit an all-time low on December 19.
The token has dropped to $0.894 and at the time of writing, FTT has recovered slightly to $0.9 but is still down more than 3% on the day. The FTT’s market cap rating is not applicable because the project’s contract deployer unlocked the locked FTT tokens last month. Market capitalization aggregation sites like Coinecko do not rank FTT capitalization among the thousands of other listed crypto assets.
FTT trading volume has dropped a lot since the crash of FTX and currently, the most active FTT trading is on Binance, Kucoin, and Sushiswap. Even though FTT broke below the $1 support, it still consolidated just below that area.
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