The Future Fintech Group’s crypto market data platform is not new, there is already a slew of major players in the space.
FTFT Capital Investments LLC, a subsidiary of Future Fintech Group Inc (NASDAQ: FTFT), a blockchain-based e-commerce company and financial technology service provider, has launched ftftx.com, a new crypto markets price aggregator, citing the need to help investors keep a real-time record of prices and related data.
“We believe that for cryptocurrency investors all over the world, efficiency, security, and accurate market data are critical.” With this in mind, we set out to create an investor-focused, results-driven platform that would assist cryptocurrency investors in maximizing their returns. We believe that FTFTX provides a reliable global platform with aggregated real-time market information that gives participants a superior user experience by offering robust, secure, and real-time market information,” said Ola Lind, Director of FTFT Capital and FTFTX.
The platform was officially launched at the Global Distributed Cloud Storage Summit – DCS 2021, which took place on December 15-17 at the Abu Dhabi National Exhibitions Centre, and can be accessed for free either through the market tracker’s website or through FTFT’s mobile app for iOS and Android devices, according to the company.
A quick look at the FTFTX platform reveals a detailed data aggregation interface that tracks a variety of cryptocurrencies. Hundreds of digital currencies are tracked, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and Terra (LUNA). The data gathered by the new market tracker, according to FTFT, came from hundreds of exchanges where digital currencies are traded. The information is accessible to both retail and institutional investors 24 hours a day, seven days a week.
FTFT hopes to expand its footprint in data provision for the industry as a whole with the launch of the crypto market data platform.
“The FTFTX cryptocurrency and market data platform’s launch is a watershed moment in the Company’s history. We believe that FTFT Capital in Dubai will be a market leader in the market data and information services sector, as well as in the field of innovative financial services, for cryptocurrency trading and investment. As we begin the New Year, FTFT remains committed to becoming one of the world’s most active and influential providers of digital currency and crypto asset trading and management services.” Future FinTech’s Chief Executive Officer, Mr. Shanchun Huang
The Inherent Competition in the Future Fintech Data Platform
Because the Future Fintech Group’s crypto market data platform is not new, there is already a slew of major players in the space. Coinmarketcap, which is owned by the Binance exchange, is one of the most popular places for retail investors to track their favorite cryptocurrencies. In the crypto data aggregation field, Coingecko and Coinpaprika are also prominent players.
There are also companies that track unique market data, such as DeFiPulse and DeFiLlama, which are both dedicated to tracking events in the decentralized finance (DeFi) ecosystem. While there is still a lot of work to be done in the space, and the arrival of FTFTX is expected to contribute to visible growth on all fronts, the platform will have to compete with these existing players to gain its own traction.
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