I just bought FTT (FTX Token)

in crypto •  5 years ago  (edited)

Binance and FTX Partnership.png

I read Binance announcements and their blog regularly. What caught my eye today is their announcement of Binance Strategic Investment in Cryptocurrency Derivatives Exchange FTX and an associated listing of FTT coin.
https://www.binance.com/en/blog/414610870200725504/Binance-Announces-Strategic-Investment-in-Cryptocurrency-Derivatives-Exchange-FTX

Derivatives are a scary thing... and unless you know exactly what you're doing, my personal advice is to stay away. However, it is an enormous market. A regular financial derivatives markets are estimated to be close to $1.2 quadrillion.

The current value of all the Bitcoin in world's circulation roughly $41 billion. Well, $1.2 quadrillion is 29,268 times more.

FTX Derivatives Exchange will focus only on crypto derivatives, but similarly as the derivatives of a financial market, we can expect the derivatives for crypto to be several time (perhaps up to 10 times) larger than the cryptocurrency market itself.

You can see now why I bought FTX token, which is "the backbone of the FTX ecosystem."
https://ftx.com/ftt

If the success of FTX will be similar to Binance's and its token's maintenance to BNB's, I think we can expect its value to grow. After all, Binance Coin ROI is greater than 9,000% in just 2.5 years.

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