One mega-whale simply loaded up on an Ethereum (ETH) token that powers a well-liked crypto market.
The blockchain-transaction tracker WhaleStats reveals that the unnamed pockets acquired 14,000,000 FTT, the native token of the FTX trade. The transaction was price $581,444,018 at time of sending.
The whale now holds over $1.2 billion price of FTT with a complete worth exceeding $3.8 billion and is now ranked fourth on the WhaleStats’ listing of the highest 1000 Ethereum wallets, excluding the ETH cryptocurrency itself.
Widespread crypto analyst Sensible Contracter can also be exhibiting curiosity in FTT, noting that the Fibonacci ABC spacing between sharp highs and lows on the coin’s historic chart presents encouraging indicators for future value motion.
The dealer says in a tweet to his 196,000 followers,
“Been an extended whereas since I performed FTT however I truly suppose a significant backside is in and we go to [all-time highs] from right here.
Good ABC on super-high timeframes the place ABC got here under the 0.618 and bull/bear durations are nearly 1:1 extension.”
In late October information broke that FTX had purchased promoting airtime in the course of the February 2022 Tremendous Bowl as a part of a wider push to deliver crypto consciousness to the mainstream.
Final week FTX additionally announced the launch of a market for Ethereum-based non-fungible tokens (NFTs).
At time of writing, the FTT token is usually flat on the day and buying and selling at $42.73.
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