Backpack Exchange acquired FTX EU for $32 million today to expands its footprint in the European region and based on this the NFT that is in the exchange’s collection, created by the team of MADLABS, saw its floor price soar past $18,000 as per BSCN.
The exchange is already well-known in the Web3 sector but with this move, the NFT collection has quickly gained attraction as a symbol of the brand’s growing influence. Its floor price reflects the market’s inclination towards MADLABS unique designs and it’s team commitment to innovation.
The FTX EU Acquisition
The $32 million acquisition of FTX EU marks a turning point for Backpack as it will have a strong hold in the European region and will make it a key player in the crypto market over all. The exchange is actually salvaging FTX’s remnants but also opens doors to new opportunities, particularly in integrating NFTs and DeFi into traditional crypto trading platforms.
Increased Market Confidence
The increased interest in the MADLAB’s collection indicates the investor interest in the exchange’s vision and strategic moves. As collectors rush to secure their place in this high-demand market, analysts believe that the combination of NFT technology and significant market acquisitions could solidify exchange’s standing as a prominent leader in the crypto economy.
With the increased interest in the NFT collection and the exchange’s expansion plans appears to be merging blockchain, art, and finance. Now the community is waiting to see what would be exchange’s next steps and how will they work in merging these sectors and proliferate itself in the global market.
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