FTT Falls 70%; Will It Be The Next LUNA?

FTT plunges from $22 to $4, will it reach $0?

FTT, the token of crypto exchange FTX, has lost most of its value after rival Binance.

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After Binance announced its plan to acquire FTX, the market is into a frenzy as traders try to understand what it means for cryptocurrencies.

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The sell-off wiped out over $2 billion in value in 24 hours.

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Seeing such a downturn, many speculate that FTT could "be like Terra Luna" and go to zero.

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Amid this, Bitcoin and Ethereum have fallen sharply, weighing down the overall market performance.

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At the press time, FTT price is $4.49 USD and is down 71.41% in the last 24 hours.

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According to CoinMarketCap, FTT ranks 67, with a live market cap of over $597 million USD.

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