- FTM’s lively customers elevated over the previous couple of months, and its worth registered large positive aspects.
- A couple of of the metrics had been bearish, however the market indicators supported the bulls.
Fantom Insider, a Twitter account that posts updates associated to the Fantom [FTM] ecosystem, not too long ago identified the networks’ achievements.
As per the tweet, Fantom had the bottom transaction price of $0.0003 whereas having the capability to course of transactions quicker.
Under are comparability charges transaction of widespread blockchains.
🔥It may be seen that @FantomFDN is the blockchain with the most cost effective transaction charges and the quickest transaction completion velocity with solely 3s.
Element👇#FTM $FTM pic.twitter.com/vQUheS56AA
— Fantom Insider (@fantom_insider) March 16, 2023
Life like or not, right here’s FTM market cap in BTC’s phrases
These developments may need performed a big position in growing the community’s income. Token Terminal’s knowledge revealed that Fantom’s income elevated significantly over the previous couple of days, which appeared fairly promising.
Supply: Token Terminal
FTM continues to WOW traders
Furthermore, Fantom’s progress was not restricted to community stats. Its token’s efficiency was additionally one thing to think about. As per CoinMarketCap, FTM’s worth elevated by greater than 14% within the final 24 hours and almost 50% during the last week, which was laudable.
At press time, it was buying and selling at $0.4698 with a market capitalization of greater than $1.3 billion. It was additionally fascinating to notice that FTM’s month-to-month customers registered a spike these days, suggesting elevated adoption and utilization of the blockchain.
Supply: Dune
Is the hike sustainable?
Whereas every little thing appeared good, Dune’s data revealed that regardless of a rise within the depend of customers, FTM’s variety of transactions gained downward momentum over the previous few months.
FTM’s worth hike additionally remained a topic for questioning as its newest pump was adopted by a decline in quantity. Surprisingly, whereas FTM’s worth went up, its weighted sentiment registered a decline.
Thus, reflecting decreased traders’ confidence within the token. Nonetheless, each FTM’s velocity and community progress had been up final week, which is a constructive sign.
Supply: Santiment
Learn Fantom’s [FTM] Worth Prediction 2023-24
FTM can pump additional due to these components
Although a couple of of the on-chain metrics had been bearish, FTM’s each day chart recommended an extra worth uptick within the days to observe.
As an example, the Relative Energy Index (RSI) went up and headed additional above the impartial zone. FTM’s Chaikin Cash Circulate additionally displayed an uptick, which appeared bullish.
The MACD confirmed a bullish benefit available in the market. Contemplating the market indicators, FTM may proceed to witness worth pumps within the days to return, effectively provided that the on-chain efficiency doesn’t hang-out the token.
Supply: TradingView