Cryptocurrency analysis company Santiment has released a new analysis of Fantom, noting significant value loss since mid-December but also signs of activity.
Decline in Value and Silence
Fantom (FTM) has lost 46% of its value since December 15 and remains relatively silent. However, the analysis points to positive signals.
Address Activity Analysis
Analysts have noted a significant increase in address activity, reaching a 19-month high. Crypto whales holding between 10 million and 100 million FTM have added 31.5 million FTM worth $23 million to their wallets over the past four days.
Prospects and New Blockchain Transition
Fantom serves as a layer 1 blockchain and is listed on major exchanges such as Binance and OKX. The developers have announced the migration to a new blockchain called Sonic and the rebranding of the token to S. Current FTM can be converted to S at a 1:1 ratio.
Despite the significant decline in value, Fantom remains under the spotlight due to signs of increasing activity and plans to migrate to a new platform.
