FTX gets Blockfolio for $150 Million

by in Blockchain News


Digital currency derivatives trade FTX has got the famous case monitoring app Blockfolio for $150 million trying to become established in the crypto world.

As a result of discussions lasting nine months, the sides signed a contract agreeing to join crypto, stock as well as cash. This purchase became one of the most exciting events in the digital value activity experience.

The latest news announced that the app will probably be launched next month. It will suit Blockfolio’s actual product services. Any other details concerning the upcoming product aren't published yet.

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One of the goals of Hong Kong-based FTX is to increase its popularity in the local business with the support of the new application. Blockfolio makes it possible for retail dealers to follow their folders and crypto values over time. It has been downloaded more than 6 million times on iOS and Android. Currently, it has nearly 150 million page visits monthly.

FTX suggests a great variety of crypto derivatives trading products like levity stocks, alternatives, and leveraged tokens. The exchange achieves $750 million of purchase value a day. We should also note that FTX is going to start a decentralized exchange termed Serum on a blockchain. Blockfolio is pointing to draw on this sphere.

So, the crypto users find this cooperation quite promising and are eager to see the new application.