FTX Token (FTT) has surpassed Shiba Inu (SHIB) as the second most held cryptocurrency after Ether (ETH) by the top-1,000 Ethereum wallet addresses.
FTT is the native asset of the FTX cryptocurrency exchange. FTT rose to an all-time high of $85.02 in September 2021 on the back of the surging crypto market at the time and has seen an average of $50 million in daily trading volume in 2022, signaling consistent investor interest in the asset.
Over the last 30 days which stretches to the first week of February 2022, FTT has become the seventh most purchased cryptocurrency with an average purchase amount of $1.6 million and an average token quantity of 40,473.
Such demand in the token by the top-1,000 Ethereum wallet addresses has seen them hold more FTT second to ETH.
FTX Token thrives on the possibilities of its issuing authority which is the FTX cryptocurrency exchange. The platform is one of the largest cryptocurrency exchanges in the centralized and decentralized exchanges space as of March 2022. Its popularity makes FTT a popular choice and has contributed invaluably to the spike in demand.
Aside from FTT, other assets such as Decentraland (MANA), Shiba Inu (SHIB), United States Dollar Coin (USDC), United States Dollar Tether (USDT), and Polygon (MATIC) are held by the top-1,000 wallet addresses. It’s extremely important for short, medium, and long-term traders to get to know the trading activity of whales.
The average quantity of FTX tokens held by the wallets is 360,033 and the average amount held is $14,995,307 at the time of press.
What’s happening on FTX?
FTX has launched the FTX IndiGG IEO. Normally abbreviated as IEO, Initial Exchange Offerings involve the distribution of new crypto tokens to either a set of investors or the broader public. The IndiGG sale and $INDI will go on sale on March 8, 2022, but only KYC level 2 account holders will be allowed to participate in the event.
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