Why FTT Investors Should Watch Ethereum Whales Care Like a Hawk

FTX icon [FTT] Formed part of the token bought by the top 5000 Ethereum [ETH] According to a new WhaleStats update. Based on data from the electoral transaction tracker, the Financial Times was a surprising addition to the party.

over here Predict AMBCrypto prices for FTT For 2022-2023

WhaleStats too mentioned That the top 100 ETH voters have paid much more attention to FTT.

Even with deep pockets accumulating, the FTT couldn’t get past its mediocre performance.

As of press time, FTT’s market capitalization is down 2.06% in the past 24 hours. Its turnover was also decreased 24.12% over the same period to $36.63 million, according to Santiment.

This means that whale buying and selling were not strong enough to neutralize the token dump in the broader crypto market.

Source: feeling

Oh, these whales can’t move mountains

Also, the impact of the election does not appear to have affected much of the FTT ecosystem. This is because the number of transactions that have not reached 1,000 since October 1 is down again.

according to glass knot, the number of FTT transactions was 186 as of October 20. This indicates that the daily confirmed transactions summarized for elections and hash are still not profitable for the FTT network.

Judging by its social size, FTT hasn’t been able to see a peak in investor interest. Therefore, discussions about FTT in the crypto community have not been as intense as what investors were expecting.

So it does not appear that the effect of elections can alter the decline in social size. feelings open That social size at the time of publication was a value of three.

However, it was not just social size that was less affected by the renewed interest from large investors. According to Santiment, the growth in the FTT network was in the same place.

With its value of 70, the on-chain platform has shown that it has become difficult for a large number of investors to adopt FTT. So FTT was likely to find it difficult to raise prices.

Data on FTT network growth and social media volume in 2022

Will traders save the day?

Although the price of FTT has not brought investors any profit lately, it did not incentivize futures traders to sideline the token. According to Coinglass, the funding rate for FTT . was positive Via Bybit, Binance and CoinEX exchanges. With this data, this meant that there was good interest in the derivatives market.

At the time of writing, the FTT is valued at around $44,000 filter it in the last 24 hours. Coinglass data showed that a large proportion of this liquidation came from long traders. With the current trend, FTT shorts could have made better profits in the short term.

FTT filter data according to Coinglass

Source: Coinglass

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