The expansion of the ecosystem and the acquisition of LedgerX propel the FTX Token (FTT) to a new high.

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After the FTX exchange added LedgerX to its ever-expanding list of acquisitions and collaborations, the price of FTT reached a new all-time high.

One of the best methods for a blockchain project to raise its value and attract new users to its ecosystem is through real-world adoption and brand recognition.

FTX, a crypto-derivatives trading platform created by Sam Bankman-Fried and Gary Wang, has seen enormous growth during 2021 as a result of more public awareness and intriguing protocol launches and partnerships.

Data from TradingView shows that after hitting a low near $50 on Aug. 31, the price of FTT catapulted 42% higher to a new all-time high at $66.50 on Sep. 1 as its 24-hour trading volume increased by 200% to $1.675 billion.

FTT/USDT 4-hour chart. Source: TradingView

The sudden burst in momentum came following the Aug. 31 announcement that FTX US, the United States-based arm of the exchange, would be acquiring  LedgerX, a fully licensed, U.S.-based options and futures trading platform.

Through this acquisition, the company will now be able to offer regulated crypto futures and options trading to the US market.

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FTX has had a busy year of partnerships and publicity-generating moves, such as purchasing the naming rights for several stadiums and becoming the official crypto exchange sponsor of Major League Baseball, but many believe that this is the most significant development for the platform to date because it provides FTX US with a unique product in the US market.

To demonstrate that it is also keeping an ear to the ground in the cryptocurrency world, FTX recently revealed plans to list the upcoming Star Atlas gaming metaverse and NFT ecosystems, a highly anticipated project that aims to capitalise on the brisk growth of the NFT and gaming sectors.

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