FTX volume increase in the market positively impacted FTT token price in the crypto market. The FTT price jumped from $45.97 on March 1 to $48.89 on March 31.
Compared to the decrease in Bitcoin, Ethereum, and other cryptocurrencies, crypto exchanges volume has increased drastically over the past few months of 2022.
In March 2022, FTX, one of the biggest exchanges in the crypto market, grabbed investors’ and traders’ attention which increased its trading volume drastically on the platform.
According to the reports, the exchange recorded a difference of $142.7 billion in trading volume between March 2021 and March 2022. This 64% increase grabbed the crypto market’s attention.
Furthermore, based on the reports by Be[In]Crypto Research and data from Nomics, FTX earned about $363 billion in trading volume.
While cryptocurrencies tried to recover from their losses in the market, FTX trading volume increased and earned interest in March, which is 5% more than what it earned in February 2022.
FTX exchange’s token FTT is surging in the crypto market following the trading volume increase.
The reasons for FTX’s increasing interest come from various factors including their decision to add ApeCoin, TerraUSD, LUNA, Euro Tether, Avalanche, and other unique tokens for trading support. Investors now have more options in terms of choosing tokens, so the traffic also increased for the FTX exchange.
As a result, FTT token value price increased within a month. If someone invested in FTT at the start of March, they would profit by 5%.