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FTX Exchange: a Guide to FTT




A lot of people enter the cryptocurrency space looking for ways to expand the ability of their idle assets to generate further profit. This exact same motivation has moved people to entertain the option of participating in derivatives exchanges today. FTX is one of these projects providing that service.

Right now, FTX shows a promising future with the backing of a lot of crypto and trading personalities and consistently high daily trading volume. FTX is a novel addition to the derivatives exchanges space and is still unavailable to traders in the United States.

Table of Contents


Sam Bankman-Fried, CEO of FTX, founded the team behind the platform back in 2018. Sam had acquired a lot of trading experience from his stint as a trader at the Jane Street Capital’s ETF desk. He also founded Alameda Research, a prominent quantitative trading and liquidity provider. Alameda is working with FTX in keeping its order book and 24/7 OTC services running.

The exchange was launched in May 2019, and it was backed by big investors such as Binance, FGB Capital, One Block Capital, and Proof of Capital, among others.

Alameda Research also happens to be behind the new high-throughput decentralized exchange Serum.

Introduction to FTX

FTX is a crypto-derivatives exchange platform offering its users access to popular trading products like leveraged tokens, perpetual swaps, prediction markets and Bitcoin options.

Along these offerings, FTX also links traders to opportunities for spot trading. To promote liquidity and ease of access, the platform also enables transfers from fiat-to-cryptocurrency, such Bitcoin, Ethereum, and a select set of stablecoins.

The target of the platform is pretty inclusive as well. A user does not have to be an above-average or exceptionally-experienced trader to get started. Any retail and institutional trader can access the platform and the range of products and services that are tailored fit for them.

Apart from all these services, FTX has an Over-The-Counter (OTC) service that allows users to buy digital assets listed on the platform conveniently.

Main Features of FTX

FTX has gained a lot of support from the crypto community as well as traders because of its advanced trading offers.

Among its most popular products are leveraged tokens and MOVE contracts. These are all available to any type of trader at low fees with very low spreads.

  • Cryptocurrency Swaps – The platform can convert supported fiat currencies like USD, EUR, CAD, and others, to cryptocurrencies. For added convenience, the platform can process credit card deposits as well. 
  • High Leverage – Traders can access up to 101x leverage for their transactions, allowing them to generate the best profit from their assets.
  • Stablecoin Conversion – The platform supports the conversion of fiat or digital currencies, such as stablecoins, using a single margin wallet.
  • Advanced Trading Services – Traders can enjoy the platform’s deep liquidity and orderbook, limitless withdrawal, access to liquidation funds, and its OTC desk.
  • Customer Service – To support traders throughout their transactions and usage of the platform, FTX established a customer support system designated to assist users for their concerns.

FTX’s Main Trading Products

FTX offers a wide range of products and services for all kinds of traders. Users can access futures and leverage trading, as well as spot trading. Most of these products can be customized by traders according to their own risk appetite and desired exposure.

Futures Contracts

FTX provides a quarterly and perpetual futures product covering the biggest cryptocurrencies in the space today. It also includes Index Futures that lets traders access more markets conveniently.

Leveraged Tokens

FTX offers access to 101x leverage to traders. Users can tap more than 45 leveraged tokens, including BULL and BEAR tokens. Traders can easily manage their portfolio through rebalancing and maintaining their target leverage.

MOVE Contracts

MOVE contracts are futures that mature depending on the change in BTC prices within specified time periods. FTX offers the service to those who want to trade based on the volatility of BTC, as the contract’s value is primarily determined by the movement of BTC’s value.

Bitcoin Options

FTX provides BTC options to users as well. Traders can access this product if they want to long or short positions on BTC with leverage. Users can configure strike prices and expiration times according to their own assessments.

Spot Markets

The traditional way of purchasing and trading cryptocurrencies is also available on the platform. Most cryptocurrencies in the space are available in FTX’s platform, such as BTC, ETC, USDT, BNB, LINK, and others.

Prediction Markets

FTX also launched a prediction market pegged on the outcome of the US Presidential Election this coming 2020. Futures contracts tied to the product will mature and start to open for trading as soon as the results are out.

FTT Token

FTT Token is FTX’s native, utility token. FTT can be used to pay for trading fees, and they are also given to holders as a reward in the form of fee discounts and redistributed returns from FTX insurance fund.

FTT can also be used to join FTX’s Battle Royale (BR) trading competition. It is a month-long competition consisting of five rounds that last one week each. Traders must hold FTT and earn high returns on the platform. Stakers can also just stake their FTT on the most profitable traders if they prefer to.

The competition rewards the biggest traders, stakers, and staked traders with their share in FTT prize pool.


In the crypto space, there are a lot of products that claim to offer huge profit for accessing their services. But what actually separates these exchanges apart from each other is the quality of service they are offering. FTX, founded by a team of traders, belongs to one of the platforms which is actually made for traders.

No one has to be an expert trader to use the FTX platform. And because of it, mass adoption is not a distant objective that the team behind it can reach. Above FTX’s liquidity and its wide range of products, its support for customers make it an ideal platform for any trader who just got into the trading space.



Ethereum: Is the HODLing in yet?




When it comes to the altcoin market, the past few months have shown how important a cryptocurrency Ethereum is. With DeFi growing substantially in 2020, the gains have been felt by ETH in many ways. While ETH has miles to go before it can challenge the market cap and dominance of Bitcoin, its remarkable growth thanks to DeFi and the proposed ETH 2.0 shift cannot be overlooked. With Ethereum’s use cases diversifying, users and investors within the ecosystem are reaping its benefits too.

Source: Glassnode

According to recent network data provided by Glassnode, Ethereum balances on centralized exchanges have fallen substantially over the past few weeks. In fact, the aforementioned data showed a drop from over 18,750K to around 16,750K, resulting in Etherum balances on exchanges falling to their lowest level for the year 2020, at the time of writing.

While this drop may seem alarming to some, it also illustrates a silver lining of sorts for the cryptocurrency. A fewer number of users are now holding their Ethereum on exchanges. Instead, they are moving them to cold storage or cold wallets – a sign commonly associated with increased hodling sentiment. As more users hold on to their Ethereum, the price of the cryptocurrency is also likely to be positively impacted.

One of the reasons why many users are feeling inclined to do so can be due to its recent performance, as well as its ability to derive growth from a booming DeFi ecosystem that is based on its platform.

Source: Glassnode

In fact, it is also interesting to note that over the same timeframe, Ethereum addresses with greater than 10 ETH have also seen a significant rise. According to network data provider Glassnode, such addresses have risen from 275K to 283K in the last three months alone.

One of the key reasons behind the aforementioned drop in Ethereum stored on exchanges ties back to increased hodling sentiment within the Ethereum community, as highlighted above. This, coupled with a rise in Ethereum locked in smart contracts (Since investors are looking to generate greater returns at a time when Etherum’s price is consolidating on the charts), bodes well for the cryptocurrency’s ecosystem.


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Brace for it – Bitcoin Futures may be nearing a tipping point




What’s the tipping point for Bitcoin Futures on top derivatives exchanges like the CME, an exchange that has recorded a daily trading volume of over $300M and Open Interest of over $400M, consistently, for the past 3 months. 

Inching closer to the tipping point of Bitcoin Futures

Source: Skew

Well, a small shift in Open Interest or trading volume can have a cascading effect on Bitcoin Futures’ performance in the next 180 days. Such a shift will be influenced by several factors, and it begins at the tipping point. Three factors, to be more specific. 

In the current phase of Bitcoin’s market cycle, these factors are more relevant for traders on derivative exchanges. This becomes more evident when the Liquidations chart for BitMEX is observed. Over the past 3 months, sell liquidations have paid for buy liquidations. However, over the last few days, this trend has been reversed, and buy liquidations have covered for sell liquidations on BitMEX.

Inching closer to the tipping point of Bitcoin Futures

Source: Skew

The point here is to detect the source of the domino effect before the dominoes start falling. In the case of Bitcoin Futures, the tipping point may be closer than anticipated. 

One of the top factors influencing the tipping point is the Law of the Few. 

The Law of the Few states that “the success of any kind of social epidemic is heavily dependent on the involvement of people with a particular and rare set of social gifts.”

In the case of Bitcoin, institutional investors, derivatives traders, and whales fit the bill. The success of Bitcoin Futures in the global trading community heavily relies on institutional investors trading on CME. In fact, the daily trade volume and Open Interest on CME influence the trading sentiment across spot exchanges as well. 

The last time a cascading effect was witnessed was when BTC Futures’ Daily Trading Volume hit $445M on CME and there was a rally all the way up to $614M. At the time of writing, the Daily Trading Volume was up 63.3%, when compared to the figures 6 months ago, and it has the potential to hit $614M with one move in the right direction.

This effect heavily relies on another key factor – The Stickiness Factor.

Back in 2017, when Google search results for “Bitcoin” and “Crypto” broke the record, the trading community witnessed a historic Bitcoin bull run and altcoin rally. Institutional interest and growth of Bitcoin derivative products ensued. A similar event transpired when Bitcoin Futures’ aggregated daily volume hit $184B on 27 July 2020. This event was a unique occurrence, and it made Bitcoin Futures stick in the portfolio of the average institutional investor and the derivatives trader.

Inching closer to the tipping point of Bitcoin Futures

Source: Skew

The aggregate trade volume hasn’t dropped to pre-July 2020 levels since then. Despite drops in Bitcoin’s price on spot exchanges, Futures contracts continue to trade at a premium and there is more optimism. Volume is not directly impacted by Bitcoin’s price and when the spot market is riddled with bearish sentiment, long contracts continue feeding shorts on BitMEX. This stickiness is a driver of the aforementioned tipping point. 

Inching closer to the tipping point, the powerful context is the rise of stablecoins and their instrumental role in lowering the barrier to entry on spot and fiat-crypto exchanges.

Over the past three months, stablecoins like USDT have added $100M in volume every day and their market capitalization and dominance have risen tremendously. In fact, Tether has also crossed a market capitalization of $15B.

This directly influences the tipping point for Bitcoin Futures as it makes Futures trading more accessible to traders. Bitcoin held on exchanges has nearly doubled over the past month, corresponding to an increase in Tether’s market capitalization and circulation. This resonates with derivatives traders who opt for physically-settled Bitcoin Futures contracts on exchanges like Bakkt. In fact, on Bakkt, the daily trade volume was upwards of $80M for the past week, while the Open Interest has been consistently above $10M.

Inching closer to the tipping point of Bitcoin Futures

Source: Skew

All of these factors are highlighting a shift in derivatives traders’ strategy, while also underlining increased activity on derivatives exchanges. The race to the tipping point has begun – An increase in aggregate trading volume on physically-settled Futures contracts or CME may trigger the much-awaited domino effect.


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Tron, Synthetix, VeChain Price Analysis: 19 September




Tron was observed to have hit a strong zone of resistance, before being rejected and pushed to the downside, at the time of writing. In fact, such bearish momentum appeared likely to continue for TRX. At a time when Ethereum was increasingly being criticized for high Gas fees and a congested network, it could have been Tron’s moment to shine, but things didn’t pan out that way at all.

Further down the charts, Synthetix continued making lower highs in its downtrend while VeChain broke out upwards after a few days of relative calm.

Tron [TRX]

Tron, Synthetix, VeChain Price Analysis: 19 September

Source: TRX/USDT on TradingView

TRX was seeing oversold conditions a few days ago when its RSI hit a low of 23, before ascending just past 50. However, the RSI was unable to remain above 50, and its drop beneath the level highlighted the fact that TRX’s recent 12% surge from $0.263 to $0.296 was merely a bounce.

TRX found a zone of strong resistance at $0.3 and looked likely to drop towards the support at $0.265.

Interestingly, a recent Reddit post has raised questions about JustSwap’s vetting process, claiming that the Tron Foundation has whitelisted a DeFi project that has since pulled a $2 million exit scam. This, despite DappRadar listing the project as “high-risk.”

Synthetix [SNX]

Tron, Synthetix, VeChain Price Analysis: 19 September

Source: SNX/USD on TradingView

Synthetix underlined the possibility of dropping lower on the charts. The Directional Movement Index did not yet show a strong trend, but ADX (yellow) was inching towards 20 and could move further north. Also, the rising -DMI (pink) denoted a bearish trend.

Over the past week, every SNX bounce off the level of support has been overwhelmed by selling pressure. This can be expected to continue. With the price registering lower highs, the way down remained the path of least resistance for SNX.

The next level of support after $4.23 lay at $3.36, representing a 20% depreciation.

VeChain [VET]

Tron, Synthetix, VeChain Price Analysis: 19 September

Source: VET/USD on TradingView

VeChain showed bullishness in the market after a period of consolidation. The Bollinger Bands expanded to indicate heightened volatility, while the price broke out towards the upper band. At the time of writing, the price was staying above the 20-period moving average, a moving average that could be tested as support as VET steadily climbs toward its resistance around the $0.158 zone.

The breakout was also accompanied by high trading volumes, legitimizing the breakout.


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