Trying to make sense of FTTBTC on higher time frame

Aimed to compare FTTBTC price action to BTCUSD

Hypothesis FTT doesn't care about BTCUSD and benefits more from the bull market in general because of new users coming to FTX to trade on the best platform

Number of FTT required seems to be some sort of squared function of the number of users, because a small % of new users are absolute whales that will buy tons of units of FTT

Happy to be spot long right now. Plenty of reasons to believe that FTT has plenty of room to grow, especially right now with the Coinbase IPO tomorrow

Sign up to trade and smoothly manage spot holdings on FTX here now: ftx.com/