FTX Token (FTT), the native token of the eponymous cryptocurrency derivatives exchange, eked out a near 10% gain in January even as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) disappointed in terms of returns.
| Time-frame | % Change (+/-) / Price ($) |
|---|---|
| January | 9.9% |
|
YTD |
9.23% |
|
All-Time High (September 2021) |
$85.02 |
|
Difference From All-Time High |
-48.5% |
See Also: How To Buy FTX Token (FTT)
Why It’s Moving? The surge came in light of the optimism surround frequest fund-raising by the cryptocurrency exchange.
FTX recently raised $400 million in a funding round, giving it a valuation of $32 billion, as announced Monday. Four months earlier, it had raised $420 million at a valuation of $25 billion, as reported by the Block.
Sister exchange FTX U.S. earlier on Jan. 26 announced raising $400 million in its first external round, which gave the exchange a valuation of $8 billion. The funding round saw participation from Temasek, SoftBank’s Vision Fund 2, the Ontario Teachers’ Pension Plan Board among others.
FTX U.S. President Brett Harrison congratulated his team on the successful fundraising of both sister exchanges.
Congratulations team, so proud and excited for what's next! $32B + $8B https://t.co/aiBeGVh0vD
— Brett Harrison (@Brett_FTXUS) January 31, 2022
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