[As the hype resumes, let’s focus on understanding FTT’s current chip distribution]

The maximum FTT was 85 dollars, which was 22 dollars before the bankruptcy, and is now only 3.4 dollars. More importantly, FTT has been heavily locked up.

Once it restarts, it will definitely be hyped again before it restarts. Then it becomes very important to understand the current chip situation of FTT.

#FTT#FTX

1 The total supply of FTT is now 328 million. Although the total amount is large, the actual circulation is very small.

Below is a screenshot of the Top holders on the scope, which can be found.

The currency holding address 1 is FTX Treasury, and the currency holding address 2 is FTX Exchange. These two hold 195 million and 45.85 million coins. After ftx goes bankrupt, the ftts at these addresses should not be able to be moved. It was also found on the actual chain that there has indeed been no record of transfers in or out for a long time.

4, 5, 6, and 7 are all related to ftx. Among them, currency holding address 4 is the collection of assets after the bankruptcy of ftx. Although it has been selling assets recently, FTT has not sold or moved. It may be because ftt is directly related to ftx and is not legally allowed.

Coin holding address 5 is the ftt held by Alameda Reseach, which also collects ftt, but has never been moved out. The currency holding address 6 is bitDao's ftt. BITDAO and FTX hold each other's tokens. It seems to be locked for 3 years.

Coin holding addresses 7 and 9 are also addresses related to ftx. The chain shows that they have not been moved since the collapse of ftx.

Therefore, among the top 10 currency holding addresses, at least 7 addresses occupy a total of 270 million FTT and cannot be moved. Of course, there will definitely be more ftts that can't actually be moved. Because of other holding addresses, we don’t have time to analyze them one by one.

2 Then for the remaining ftt, there are still 58 million pieces. Then let’s investigate the chips in the exchanges. Binance has 38 million chips, and other exchanges have relatively small holdings. A total of 46 million coins are held.

3 FTT has surged about 5 times last week. We know that when general coins surge, a large number of users will recharge and enter the exchange. For this reason, we can measure the chips circulating outside FTT in reverse. Figure 3 in the attachment shows the transfers in the last seven days. The largest transfer was to the wallet address of binance8, which transferred a total of 3.46 million coins, which is very small compared to the amount currently held. And many of them may be transferred to Binance from other exchanges. For example, gate decreased by 2 million coins.At the same time, there are two large addresses on the chain that are transferring to each other.

On another level, FTT’s transfer frequency on the Ethereum chain is relatively low. So overall, although FTT still has 12 million chips outside the exchange, many of them are still unable to be moved. For example, there are some small-amount ftx-related addresses, or wallets that have lost their private keys, or large investors that have been locked in for a long time.

4 In total, the total amount of FTT is now 328 million, of which at least 270 million are related to FTX and cannot be moved. Of the 12 million coins held by on-chain addresses, it is estimated that more than half cannot be moved. The main ones circulating are on exchanges, mainly on the Binance exchange. The total current circulation is 50 to 60 million pieces. If calculated according to the current price, the circulating market value is about 200 million US dollars.