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

Aave Labs Expands Fixed-Rate Lending Capabilities with Avon Acquisition

Aave Labs announced its acquisition of Avon to enhance fixed-rate lending capabilities.

user avatarLi Weicheng

Investigation into Binance Theft Reveals Complexities in Cryptocurrency Tracing

Elliptic's investigation into the October Binance theft reveals complexities in tracing stolen cryptocurrency assets, highlighting challenges in identifying recipients and the need for compliance.

user avatarTenzin Dorje

Elliptic Reports $124 Million in Stolen Assets Converted to Bitcoin

Elliptic reports that approximately $124 million of stolen assets from the October Binance breach have been converted into Bitcoin.

user avatarAisha Farooq

Coinbase Launches Integrated Services for Token Issuers

On November 5, Coinbase launched a new integrated platform for token issuers, offering services from sales to custody, aiming to streamline operations and reduce reliance on multiple providers.

user avatarBayarjavkhlan Ganbaatar

Canary Staked INJ ETF Now Trading on Nasdaq

The Canary Staked INJ ETF began trading on Nasdaq under the ticker INJC on November 5, offering exposure to the Injective token and staking rewards.

user avatarMohamed Farouk

Nigeria's Central Bank Unveils New Regulations for Virtual Assets

On November 5, 2023, Nigeria's Central Bank announced a new licensing framework for non-security virtual assets, including stablecoins, aimed at enhancing consumer protection and financial system integrity.

user avatarElias Mukuru

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.