In their end of the year review FTX have to state that their tradable assets and markets, users, volumes, and team all grew tremendously in 2020.
Reportedly, FTX volumes and the user base increased by 1000% They have started year 2020 with 410 markets; however, by the end of 2020 they have a total of 1100 markets. There has been a steady rise of assets in the platform and the traders are able to utilize more assets in collateral.
It is now possible to use 31 more cryptos, 10 mode fiat currencies, and 30 tokenized stocks as collateral in the platform.
In order to improve on the supported markets, they have done a lot of work to add domestic deposits and withdrawals for AUD, SEPA EUR banking, BRL and TRY domestic rails through local partners and doing more each month.
Important to note that FTX is one of the fastest companies in history to achieve the unicorn status in just under 9 months from inception. For clarity, Unicorn status is a term in the business world to indicate a privately held startup company valued at over $1 billion.
Several institutions, funds, trading firms, and angel investors have expressed interested in FTX. FTX have established a reputation as an exchange that is able to be quick to roll out new products and features. They have also made several under the hood improvements. They have released a litany of new features, products, and tools for their users to use.
FTX Token Tokenized Stocks
They are excited about tokenized stocks as they have to state that this has never been done in crypto. In this process, the qualified traders will be given the ability to trade a particular tokenized stock for 24 hours a day, 7 days a week, and 365 days in a year. The trader will be entitled to all economic benefits of holding the stocks like dividends, stock splits and more. Spot trading and future trading of these products are made available. Users will thus be trading with 101 times the leverage with any other market on FTX with same collateral pool, same margin requirements, same everything.
FTX are well known for being an exchange for professional traders. They have gained a larger user base of sophisticated traders, but still several users wished the exchange get to be more user friendly. Therefore, they have made a site redesign with all the modern bells and whistles.
The most important of all the price of FTT increased by 270% during 2020 and in 2021 things are expected to work a lot better.
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