FTT: Can the Binance’s acquisition of FTX crypto exchange improve FTT’s prospects?

FTX crypto exchange has been popular for a very long time. FTX’s founder, Sam Bankman-Fried is one of the most popular names in the crypto world and thanks to building the FTX exchange, he had become one of the youngest billionaires in the world, at one point having a net worth of nearly $17 billion.

After completing a degree in physics at the Massachusetts Institute of Technology, he perfected the crypto arbitrage techniques to make his initial wealth before founding several crypto products, ranging all the way from the well known crypto exchange, FTX to Alameda, a prop trading desk.

But of late, after weeks of spat between the founders of two of the largest crypto exchanges, Binance and FTX – it has finally concluded with Binance’s CZ stating his intention to acquire one of its biggest competitors in the market.
 
While that is yet to actually play out in the market, observations from FTT’s transaction counts, as of now, indicate that weaker hands have been pushed out of the market – its MVRV Ratio indicates some late stage accumulation may still play out and a recovery could happen later on.

Also Read: FTT: Can the Binance’s acquisition of FTX crypto exchange improve FTT’s prospects?