🔥 FTT Will Go To ZERO
Will not go too deep into the whole FTX debacle, chances are that most of you will already know the story.
So, FTX announced yesterday that they're officially filing for bankruptcy. This also includes FTX US, which was previously "not impacted" but actually is. SBF has been lying through his teeth all the way, but that's for another time.
Looking at FTX's native token, FTT, I think it will go to zero. A lot of cryptos have questionable use cases, but for FTT in particular I think we can all agree there's nothing backing this token. If the exchange is dead, so is the native token.
The only hope that holders have is that some party will take over FTX. However, I deem this highly unlikely since the name will never be trusted again.
In my view, FTT will see a very slow and painful death over the next couple of weeks until all major exchanges have delisted the token. I'm also expecting the occasional >50% pump & dump from traders trying to make some quick money, but not a substantial change of trend.
So, FTX announced yesterday that they're officially filing for bankruptcy. This also includes FTX US, which was previously "not impacted" but actually is. SBF has been lying through his teeth all the way, but that's for another time.
Looking at FTX's native token, FTT, I think it will go to zero. A lot of cryptos have questionable use cases, but for FTT in particular I think we can all agree there's nothing backing this token. If the exchange is dead, so is the native token.
The only hope that holders have is that some party will take over FTX. However, I deem this highly unlikely since the name will never be trusted again.
In my view, FTT will see a very slow and painful death over the next couple of weeks until all major exchanges have delisted the token. I'm also expecting the occasional >50% pump & dump from traders trying to make some quick money, but not a substantial change of trend.
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