Fantom (FTM) is currently witnessing an upward trend and has seen a notable surge in its value. Over the past month, FTM has demonstrated remarkable growth, surging by almost 118%, showcasing its robust performance in the market. In the weekly timeframe, FTM has seen a surge of 65%, further highlighting its momentum.
At the time of writing, the price of FTM is $0.807258, with a 24-hour trading volume soaring to $1.03 billion and a market capitalization reaching $2.26 billion. Despite a slight decrease of -0.54% in the last 24 hours, Fantom remains an intriguing asset within the cryptocurrency landscape.
Fantom (FTM) Whale Activity Sruges
Cryptocurrency analyst Ali Martinez has seen significant progress within the FTM ecosystem, explaining its market performance. The chart shows an upswing in whale transactions, which means a huge movement of FTM tokens. Additionally, whales have bought more FTM, signaling that powerful investors are increasing their token holdings.
At the same time, the amount of FTM held on exchanges is decreasing. Reducing the exchange balances implies that investors are taking out their FTM from trading platforms, possibly for long-term holding in decentralized applications (dApps) within the Fantom network.
All these trends indicate a bullish sentiment for Fantom. The intensified whale activity and decreased availability of FTM on exchanges reveal growing faith in the project’s prospects. Such positive network dynamics often correlate with upward price movements reflecting increased demand and investor interest in Fantom.
Fantom (FTM) Short-term Price Forecast
Changelly Fantom price prediction shows that there is an expected 4.9% decrease in FTM price by March 9 and may drop as well. However, amidst such projection, technical indicators from Changelly still indicate strong Bullish sentiment with market sentiment at 85% favoring bullish moves. Moreover, a fear and greed index at 82 indicates extreme greed which is characterized by high investor confidence.
Based on historical price fluctuations of cryptocurrencies, experts predict that FTM might average $0.905 by March 2024 based on price trends at the beginning of 2023. They also expect a minimum price level of $0.793 and a maximum of $1.02 for this period too. In terms of these factors, there is a potential Return on Investment (ROI) amounting to 25.2%, underscoring speculative opportunities associated with Fantom within this specific timeframe.
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