- FTM’s energetic customers elevated over the previous few months, and its value registered huge beneficial properties.
- 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 payment of $0.0003 whereas having the capability to course of transactions sooner.
Beneath are comparability charges transaction of standard blockchains.
🔥It may be seen that @FantomFDN is the blockchain with the most cost effective transaction charges and the quickest transaction completion pace with solely 3s.
Element👇#FTM $FTM pic.twitter.com/vQUheS56AA
— Fantom Insider (@fantom_insider) March 16, 2023
Sensible or not, right here’s FTM market cap in BTC’s phrases
These developments may need performed a big function in growing the community’s income. Token Terminal’s knowledge revealed that Fantom’s income elevated significantly over the previous few days, which seemed fairly promising.
Supply: Token Terminal
FTM continues to WOW traders
Furthermore, Fantom’s development was not restricted to community stats. Its token’s efficiency was additionally one thing to think about. As per CoinMarketCap, FTM’s value elevated by greater than 14% within the final 24 hours and practically 50% over the past 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 all the things seemed 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 value hike additionally remained a topic for questioning as its newest pump was adopted by a decline in quantity. Surprisingly, whereas FTM’s value went up, its weighted sentiment registered a decline.
Thus, reflecting decreased traders’ confidence within the token. Nonetheless, each FTM’s velocity and community development had been up final week, which is a optimistic sign.
Supply: Santiment
Learn Fantom’s [FTM] Value Prediction 2023-24
FTM can pump additional due to these components
Although just a few of the on-chain metrics had been bearish, FTM’s every day chart instructed an extra value 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 Movement additionally displayed an uptick, which seemed bullish.
The MACD confirmed a bullish benefit available in the market. Contemplating the market indicators, FTM would possibly proceed to witness worth pumps within the days to come back, nicely provided that the on-chain efficiency doesn’t hang-out the token.
Supply: TradingView
