Fantom: 46% Decline and Positive Signals from Santiment Analysts

user avatar

by Giorgi Kostiuk

2 years ago

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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

ACI Worldwide and Circle Launch USDC Settlement Pilot in Colombia

ACI Worldwide and Circle announced a collaboration to demonstrate USDC settlement integration into existing bank payment systems.

user avatarSatoshi Nakamura

Binance Wallets Drained in Major Security Breach

Wallets linked to Binance were drained of at least $55 billion, raising concerns about the security of decentralized exchanges.

user avatarJesper Sørensen

Decentralized Exchanges Facilitate Fund Swaps in Binance Hack

Decentralized exchanges like Uniswap and Aave are being used to swap frozen stablecoins for Ethereum following the Binance wallet draining incident, complicating recovery efforts.

user avatarRajesh Kumar

Bron Joins Hashgraph Association's Global Membership Program

Selfcustody platform Bron has joined the Hashgraph Association's Global Membership Program to enhance its connection with the Hedera ecosystem.

user avatarLucas Weissmann

Bitwise Asset Management Raises Bitcoin Price Projection to $1.6 Million by 2036

Bitwise Asset Management has raised its long-range Bitcoin price projection to $1.6 million by 2036, reflecting significant growth expectations based on anticipated institutional allocations and demand for scarce assets.

user avatarFilippo Romano

Movantis Integrates Stellar for Enhanced Cross-Border Payments

Movantis and the Stellar Development Foundation announced on October 29 that Stellar will become a settlement option in Movantis' multirail payment network, focusing initially on USDC settlements for transfers from the US to El Salvador.

user avatarEmily Carter

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.