<100 subscribers
Author: lesley@footprint.network
Data Source: Token Dashboard
FTM has experienced a significant decline of 23.71% over the past week, dropping from 0.5004 to 0.3973. This drop coincides with a surge in selling pressure on the token.
Fantom (FTM) is a highly scalable blockchain platform designed for a diverse range of applications, including DeFi, crypto decentralized applications (dApps), and enterprise solutions.
Although recent market movements may cause concern, a closer look at Fantom’s technological capabilities provides a more comprehensive perspective.
Token analysis is of paramount importance, and in this context, what are the key metrics to consider?
FTM token price per day for the last 30 days
Token price
The token price reflects market sentiment, investor confidence, and the overall health of the cryptocurrency project.
In the past month, FTM’s token price has exhibited a downward trend, dropping from a mid-December peak of $0.56 to an early-January low of $0.35.
As we transitioned into 2023, FTM experienced a swift decline, hitting a low point of around $0.35 in early January — a substantial drop of nearly 40%. Investors are showing pessimism towards FTM in the current market due to a substantial downturn.
Daily Token Trading Amount & Value
Trading value
Trading value and trading volume are critical metrics in financial markets as they offer insights into the dynamics and liquidity of assets.
We observed a peak in FTM’s daily trading volume and value on Ethereum in mid-December, followed by a sustained decline leading into January.
Although there was a brief recovery in FTM’s trading volume and value on January 8th, subsequent data reveals a persistent decline. This rebound is probably due to short-term fluctuations, and there are no clear signs of sustained stabilization at lower levels.
Daily Token Trading Value in CEXs
Net flow in CEX
The supply of FTM on exchanges has increased, while off-exchange supply has decreased. This suggests that FTM may be under selling pressure. The decrease in supply held by major addresses and reduction in whale transaction volumes over the past week indicate this.
The prevalence of outflows, combined with a consistent downtrend and increased trading volume across multiple timeframes, highlights the influence of sellers in guiding market dynamics.
Footprint Token Analysis Page can assist in analyzing additional metrics.You can access all the data you need in Token Dashboard on the Footprint research page.
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Token analysis is crucial as it provides insights into market trends and risks, aiding investors and traders in making informed decisions. It serves as a compass in the volatile cryptocurrency landscape, helping navigate opportunities and threats.
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