Despite 2 Entities Holding 73% of the FTX Token Supply, FTT Price Still Holds Above $1 per Unit

Despite 2 Entities Holding 73% of the FTX Token Supply, FTT Price Still Holds Above $1 per Unit

While a large fraction of crypto assets dropped a great deal in value during the past few weeks and bitcoin is down 18.2% in 30 days, the exchange coin ftx token (FTT) still trades above a U.S. dollar per unit. Moreover, the unknown entity known as the ‘FTX Accounts Drainer,’ still holds the second largest FTT wallet with 45.85 million tokens worth $61.44 million.
FTT Remains Above $1 per Unit During the Past 2 Weeks Since the FTX Collapse
It’s been over two weeks since FTX filed for Chapter 11 bankruptcy protection and on that day, FTT was still trading for $3.46 per unit. 16 days later, FTT’s price has consolidated and during the past 24 hours, FTT’s been trading for prices between $1.33 and $1.39 per unit.
In fact, FTT has remained above a single U.S. dollar since Nov. 12, 2022, and it still has not breached the low it saw in September 2019, back when FTT traded for $1.15 per unit. On Sunday, Nov. 27, the exchange token backed by a bankrupt business has around $5.26 millio

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