FTX is integrating FTX Pay into Reddit’s Community Points, how will this impact FTT price?

FTX (FTT/USD) is a crypto derivatives exchange that allows users to buy and sell a wide range of cryptocurrencies with low fees and leverage up to 20x.

FTX utilizes FTT,  the native cryptocurrency token that is a part of the exchange, and it is utilized for the reduction of trading fees and can serve as collateral against future positions or can be staked to earn interest. 

The FTX Pay Integration into Reddit Community Points as a catalyst for growth

Reddit has made an announcement that it will be integrating FTX Pay into Reddit Community Points.

Reddit has the main goal of encouraging better engagement across the platform, and with this new payment system, users will be able to buy Ethereum (ETH/USD) and pay for network fees. 

According to the official Community Points website, these are points that will allow customization, encourage better content and unlock specific features.

The points are built on top of the Arbitrum Nova blockchain, and the “reputation” of users is seen on every platform the blockchain is recognized on.

The features will be supported throughout different markets, such as the U.S., E.U., and Australia. 

Should you buy FTX (FTT)?

On August 10, 2022, FTX (FTT) had a value of $29.54.

We will be analyzing the all-time high point of value, as well as its performance in July of the FTT cryptocurrency, to see how far it can grow.

The all-time high for the FTX (FTT) cryptocurrency was on September 9, 2021, at a value of $84.18.

When we go over the performance of FTT throughout the previous month, we can see that FTT had its lowest point of value on July 13 at $23.55.

Its highest point of value was on July 30 at $32.27. Here we can see that FTT increased by $8.72 or by 37%.

When we look at the token as a whole, we can see that the FTT is a solid buy as of August 10, 2022, as it can climb to a value of $38 by the end of August 2022.

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