Expanding ecosystem and LedgerX acquisition send FTX Token (FTT) to a new ATH

Expanding ecosystem and LedgerX conquering transport FTX Token (FTT) to a new ATH

FTT toll soared to a new all-time high later the FTX exchange added LedgerX to its ever-expanding listing of acquisitions and partnerships.

7488 Total views

60 Full shares

Expanding ecosystem and LedgerX acquisition send FTX Token (FTT) to a new ATH

Existent-world adoption and brand awareness are one of the best ways for a blockchain project to increment its value and concenter new users to its ecosystem.

One project that has seen massive growth throughout 2022 thanks to its increasing public exposure and heady protocol launches and partnerships is FTX, a crypto derivatives trading platform founded by Sam Bankman-Fried and Gary Wang.

Data from Cointelegraph Markets Pro and TradingView shows that later hitting a depression nearly $50 on Tuesday, the price of FTT catapulted 42% to a new all-time high of $66.50 on Wednesday every bit its 24-hour trading volume increased by 200% to $ane.675 billion.

*FTT/USDT four-hour chart. Source:* *TradingView*

The sudden outburst in momentum came post-obit Tuesday's announcement that FTX US, the The states-based arm of the exchange, would be acquiring LedgerX, a fully licensed, U.Due south.-based options and futures trading platform.

We are excited to announce that FTX United states of america is acquiring LedgerX!

We await frontwards to partnering with the @LedgerX team to offer CFTC-regulated crypto derivatives to the US market place. flick.twitter.com/6VgH4psaL5

— FTX - Built By Traders, For Traders (@FTX_Official) August 31, 2022

Through this acquisition, the company will at present be able to offer regulated crypto futures and options trading to the U.s. market.

FTX has had a busy yr of partnerships and publicity-generating moves, such equally purchasing the naming rights for several stadiums and becoming the official crypto commutation sponsor of Major League Baseball, but many experience that this is the biggest development to date for the platform because it gives FTX US a unique production in the U.South. market place.

Related: FTX crypto exchange seals $210M naming rights deal for esports behemoth TSM

And just to show that it also has a mitt on the pulse of the cryptocurrency community, FTX also recently announced plans to list the up-and-coming Star Atlas gaming metaverse and NFT ecosystems, a highly anticipated project that looks to capture the surging momentum of the NFT and gaming sectors.

That'southward 1 minor step for a human, ane giant #listing for mankind. - @staratlas film.twitter.com/MCY72eWNsN
— FTX - Built Past Traders, For Traders (@FTX_Official) August 31, 2022

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves adventure, you should conduct your own research when making a decision.