FTT Token remains one of the worst performers in the crypto market this week. The token is already down more than 80% from its last week’s price and continues to show very bearish trends. Now, there has been some recovery for the token in the last day but the volatility still remains high. The price of the coin is yet to hit below zero like LUNC did but the collapse of the FTX exchange suggests that this may be the next LUNC in the making.
A Gambler’s Token
Over the last couple of days, the profitability of FTT tokens has taken a hit. It had fallen to a cycle low of $2, leaving billions of dollars in losses in its wake. This has pushed the total market cap of FTT down below $630 million and its fully diluted market cap at around $673 million as 100% of the token supply was reported to be already fully unlocked.
One development that goes against the declining trend is the volume of FTT tokens being…
