The price of the FTX Token (FTT) has plummeted by 90.93%, as measured from Tuesday’s open at $22.2 to its lowest point of $2 on Thursday morning. At the time of writing, it is being traded at around $3.29, and has started slightly recovering.
There is still much speculation about what exactly happened with FTX and what its future is. Binance is not stepping in after all, and with the recent price crash many investors are now asking “Is the FTT token headed to $0?”
FTT token was in a correction since the 8th of September 2021, when it reached an all-time high of $85.78. Entering the bear market in November, the token followed the general sentiment and continued on to form a downtrend.
Reaching $21.64 on Jun 18th this year at that time was the sign that the price could find support and establish a horizontal range in which to consolidate. This low comparable to the June 21st, 2021, and was viewed…
