What is FTX doing with blockfolio?

Hong Kong-based cryptocurrency derivatives exchange FTX today announced the acquisition of cryptocurrency portfolio tracker Blockfolio for $150 million. FTX plans to collaborate with Blockfolio on a retail trading application, which it hopes to launch this fall. This is one of the largest crypto acquisitions.

What is blockfolio's portfolio tracker?

Blockfolio adds new portfolio feature keeping up with rival Delta. Hong Kong-based cryptocurrency derivatives exchange FTX bought Blockfolio for $150 million. Blockfolio’s portfolio tracker gives its users an idea of the direction of the cryptocurrency market. FTX wants to launch a retail product with Blockfolio soon.

Should you buy FTX or a portfolio tracking app?

While an exchange buying a portfolio tracking app seems to be a right fit, they don’t necessarily have the same audience right now. FTX is better positioned for professional traders, as it lets you trade on futures markets and it even offers ERC-20 tokens that track the volatility of bitcoin.

Why is blockfolio so popular?

It embodies the aspiration and dreams that bring new people in. People who use Blockfolio use it a lot. If our goal was to give people everything they needed to make crypto easier and more accessible, it became clear that the more glaring missing feature in Blockfolio was helping our users move from being well informed to being able to take action.