Author: Nassim Chequetemi
Publication date: 04.06.2024
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FTX Coin is the native cryptocurrency of the crypto exchange FTX. The FTX platform is known for its wide range of financial products, including futures, options, and other derivatives, as well as its commitment to innovation and regulatory compliance.
John Ray III, CEO of cryptocurrency exchange FTX. To understand whether FTX Coin is a good investment in 2024, we will analyze the past performance of FTX Coin, such as price, trading volume, and market capitalization.
This way we can make a diagnosis and assess the opportunities and risks of the latter. The past performance of FTX Coin must then be analyzed by examining its historical price, trading volume, and market capitalization to obtain an indicator of its resilience to market fluctuations, and to identify potential investment entry points through technical analysis.
Finally, analyzing the competition and market ecosystem is important to determine whether this cryptocurrency is a good investment in 2024 Q2.
bankrupt of Ftx coin in 2022
The cryptocurrency exchange FTX, which is in chaos after its bankruptcy in 2022, is proposing a bold restructuring plan. According to the new plan, 98% of creditors can receive 118% of their claims in cash within 60 days after court approval. This approach not only wins the loyalty of the company's customers, but also restores the company's image.
FTX's Partner Zone: According to FTX, Bankman-Fried's fraud has certainly also hurt FTX's investors and shareholders, who have little hope of recovering their funds after the company's bankruptcy.
FTX's partner zone: According to FTX, Bankman-Fried's fraud has certainly also harmed FTX's investors and shareholders, who have little hope of recovering their funds after the company's bankruptcy.
Indeed, FTX will find itself in a rather delicate situation, as it does not have the necessary funds to pay its shareholders, who are the last to be reimbursed.
The company must repay a number of economic agents, including its customers, lenders and the US governement
Ftx coin price : 1.57 euros
Volume/Market cap 3.14%
Development: growth 58.51%
Ftx coin chart analysis in 2024
The graph of FTX coin 2024 shows that the trend in ftx coin over the years has been upwards, peaking around February, and in recent months there has been a slight fall in the curve, but it remains downgrade.
Strong market competition
There is lot of competitors in the cryptocurrency market, with more than 500 currencies on the market. Each company has to stand out in order to expand and dominate the market .
This will enable the company to gain places in the rankings and increase the value of the crypto, which will have a positive snowball effect.. As with any investment in cryptocurrencies, FTT is not without risks. Investors
FTX has stated that it expects to negotiate the U.S. government's claims in bankruptcy down to between $3 and $5 billion. This is causing prejudice to its shareholders, and a real distrust of potential customers and investors. FTX's failure to repay its customers in full Sam bankman -fried is leading to his arrest incarceration.
Despite the relaunch attempt by new investor John Ray III, many customers have a certain reluctance towards this crypto, due to the instability of the market and its historical past. The FTT cryptocurrency is experiencing a certain distrust towards its potential future customers.
Conclusion
Thanks to this article ,we can conclude that FTX coin is not a good investment for 2024 in view of its past,its many unpaid debts,so is advisable not to bet on this crypto.
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