The price of FTT has been falling steadily over the past few days, as speculation around Binance’s plans to liquidate its holdings continues. On Sunday, Binance CEO Changpeng Zhao attacked the company on Twitter, claiming that the exchange would be selling off all remaining FTT tokens in its possession.
Meanwhile, Sam Bankman Fried, CEO of the crypto derivatives platform FTX, has taken to Twitter in an attempt to reassure investors, stating that FTX’s assets are “completely fine.” Despite these reassurances, the FUD around FTT persists, with many investors worried about the token’s future. As we see more developments in this ongoing story, it will be interesting to see how the price of FTT continues to fluctuate.
FTT price establishes new lows as Binance liquidates its holdings
The price of FTT has been falling dramatically over the past few days, as investors react to fears that Binance is liquidating its holdings of the token. On Sunday, Binance CEO Changpeng Zhao attacked the exchange on Twitter, claiming that it would be selling off all remaining FTT tokens in its possession. This sent shockwaves through the crypto community and resulted in a sharp decline in FTT’s price.
The MACD seen in the chart above suggests that we may see a bounce soon, as the selling pressure is likely to subside. If the market sentiment becomes more positive, this could provide a boost to FTT’s price and help it recover from its recent losses. Overall, it will be interesting to see how FTT’s price responds in the coming days, as the market continues to digest this latest news.
FTT price has continued to fall, establishing new lows amid the continuing uncertainty surrounding its future. This has resulted in the candlesticks almost falling through the 21-month-old support line, which acted as a critical level of support in previous price movements. However, despite the negative developments, some analysts remain bullish on FTT.
As more details about Binance’s plans become clear, and as we see further movements in the price of FTT, it will be interesting to watch how the token performs in this rapidly-evolving market environment.
Conclusion
The price of FTT has been declining in recent days, as investors react to fears that Binance is liquidating its holdings of the token. While there have been some reassurances from industry experts, such as FTX CEO Sam Bankman Fried, concerns about FTT’s future remain. As we continue to see developments in this story, it will be important to watch how the price of FTT responds to these changes.
