The end might be near for the FTT token as there are reports that the Binance exchange is backing out from the programmed acquisition of the embattled FTX exchange. The FTX crash is dominating the cryptocurrency market for now as investors are worried about whether or not the crisis can impact their chosen tokens. But at the same time, BudBlockz and Binance are the two cryptocurrencies poised to deliver higher returns in the future.
FTT Prices Drop Down as FTX Peers at an Uncertain Future
FTX is a decentralized exchange to hold, stake, sell, and buy cryptocurrencies. FTT is its native token that can be used for all types of transactions on the platform, including payments, staking, and liquidity pool acquisition. The exchange repurchased FTT tokens and burned them to regulate its supply and hold over price fluctuations.
However, the platform has been in the media for all the wrong reasons in the last few months. It filed for voluntary Chapter 11 bankruptcy proceedings. The development came a few days after Binance’s CEO tweeted that he is going to liquidate holdings in FTX after reports of troubled financial affairs of Alameda Research. According to the research report, hundreds of dollars of FTT tokens have been used to secure loans. However, events took a grave turn when it came out that Sam Bankman Fried was under the radar of the Securities and Exchange Commission and the US Department of Justice. It led to a steep drop in FTT prices.
Binance is Pushing the Cryptocurrency Market into Frenzy
As a result of Binance walking away from the FTX deal, its token was trading higher by 3% within 24 hours, while FTX dropped by almost 30%. After seven days, BNB dropped by more than 7%, while the FTX token dropped by almost 87%. In just 30 days, BNB gave positive returns with an upside of almost 12%.
The Binance-FTX deal caused a furor in the cryptocurrency markets, and BNB benefited from the ill-reputation of FTT.
BudBlockz Sets Up Its Game as FTX Tokens Plummets
Many investors are worried about the FTX crash as they believe it can affect their crypto holdings and investments. Nevertheless, cryptocurrencies like BudBlockz are tightening their belts to provide better services to investors.
BudBlockz is an effective e-commerce solution developed on Ethereum. It is a platform serving as a bridge between entrepreneurs, cannabis companies, and users on a global scale. It gives organizations looking for an international cannabis market to expand a new platform.
$BLUNT is a native BudBlockz token created on the ERC-20 protocol. The token can be used to deal with different transactions on the BudBlockz network. A few of the services provided on the platform are NFT trading, staking, liquidity, and petitions. BudBlockz’s presale is currently ongoing.
The maximum supply of the token has been capped at 420,000,000 units, but the team will constantly burn the token to ensure a limited supply. The limited supply of the tokens will ensure the price is controlled and reduce the token price’s fluctuations rates.
The tokens have been divided into different categories, such as-
- Presale (25.6%)
- Marketing (18%)
- Liquidity (25%)
- Founders (10%)
- Project Partners (5%)
- Developer’s wallet (8%)
They have established the categories to handle the $BLUNT token supply. Its presales and liquidity have the largest share of all categories.
Many investors are beginning to recognize the advantage of this cryptocurrency over others. Its ecosystem has a specific feature with a strong market foundation and use cases. Many analysts believe the cryptocurrency has a significant potential to grow in 2023 after it is launched for the public state.
$BLUNT is now the FTT alternative. The native token powering the BudBlockz ecosystem stays intact. Its long-term prospect has everything to do with the crypto positioning itself in two of the most rapidly scaling sectors with big growth opportunities.
But the marijuana platform isn’t the only thing poised to enable its utility and use case of the token. It also sets sight on the NFT spectacle. BudBlockz has an NFT collection called Ganja Guruz. It will provide the holders with a range of benefits. The NFT holders can own fractional stakes in marijuana farms and dispensaries.
FTT token implosion doesn’t mean the end of the road for cryptos. Rather the focus is gradually shifting to projects with long-term prospects and proven utility cases. BudBlockz and Binance are two projects that are turning out to be gems amidst the dropping valuation levels. It can revolutionize the marijuana sector and pursue growth around DeFi, and NFT, underscoring its long-term prospects and growth metrics.
Purchase or learn more about BudBlockz (BLUNT) at the links below:
Official Website: https://budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
BudBlockz Community Links: https://linktr.ee/budblockz
Use the promo code “CYBERWEEK” to receive a 20% bonus on your $BLUNT purchase before 5 December 2022.