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Competition on Crypto Exchanges is heating up as FTX.US Surges

It looks like FTX.US’s marketing strategy is paying off as a general interest in crypto trading increases. The Sam Bankman-Fried crypto exchange, FTX’s US affiliate revealed impressive details about their growth. On Thursday, they stated that the exchange’s daily average volume approached new highs. The first time was at the beginning of the year when prices of digital assets increased. The second time was thanks to an impressive advertising campaign. The massive approach targeted retail investors.

Based on a released statement, daily volumes fell somewhere between $150 million and a whopping $1 billion. This was during the first half as interest in crypto was growing. The crypto exchange boasted that these volume numbers make it among the US’s largest by volume.

Of course, this means that competition will grow tough. Now, crypto enthusiasts can choose between almost 400 different exchanges. This includes DeFi and lending platforms, as well as spot and derivatives platforms. This is based on data from a tally on CoinMarketCap.

In the past few months, FTX and FTX.US have made announcements of upcoming partnerships. Most of these relate to sports. An example is FTX partnering with Major League Baseball in June. Consequently, they became the official crypto-exchange brand of the organization.

After this came the announcement that Gisele Bundchen and Tom Brady, a sports star-supermodel couple, had taken an equity stake in the brand. The super couple is an ambassador for FTX.US and FTX, according to the president of FTX.US, Brett Harrison.

FTX.US president explained that the company’s goal in detail. The brand’s aim was that they wanted every US crypto enthusiast to have the opportunity to trade crypto. A long-term goal was to increase brand awareness among crypto enthusiasts and get them to use their product.

This explains the philosophy behind FTX’s recent partnerships. For people to learn more about FTX and FTX.US, it was important that their product becomes a household name. And that can only happen through well-known personalities.

The significant swings in cryptocurrencies have enhanced interest in trading. This year, Bitcoin prices more than doubled, reaching record values of $65,000. But that was before it fell back to a fraction of the price at $25,000. But this brought about good fortune for Ether, the second-largest digital currency. By May, its prices increased by five times the initial value. They tumbled shortly after, but nevertheless, remain over 200 percent.

This was good news for investors, as the high gains brought about a wave of interest from institutional and retail investors.  FTX.US is based in California’s city of Berkeley and has been operating for almost a year. The company is operated and owned by West Realm Shires Services. The exchange is s separate service from FTX.

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