Can Fantom (FTM) Retrace Back to Its Peak Values?

After elevating thousands and thousands via varied ICO rounds in 2018, Fantom’s predominant internet went reside by the tip of 2019. Unlike most cryptocurrencies, FTM doesn’t use a blockchain however depends on a DAG, and it’s secured by a novel Proof of Stake consensus mechanism known as Lachesis.

This protocol allows FTM to course of and full 20,000 transactions per second. Fantom has round 60 validators, of which the Fantom Foundation runs a couple of. 

For safety, Fantom validators should stake a minimal of 500,000 FTM. Validators can earn over 15.6% per yr relying upon their length of staking, nevertheless it requires a seven-day unlock interval. Another constructive side of the Fantom ecosystem is its vitality effectivity, and the complete Fantom community consumes much less vitality than a mean American house. 

Fantom’s native token, FTM, has been crushed arduous by the worry in crypto markets. Fantom at present has a market capitalization of $671,707,346, with 80% of FTM tokens in lively circulation, making this platform rank 63rd.

Being thought of an ETH competitor stays the one silver lining for the FTM ecosystem, and it even faces rejection by customers for its extremely centralized ecosystem. The damaging motion in a really quick time regardless of buying and selling at an all-time excessive proves its correlation with Bitcoin value motion. 

Fantom value motion is consolidative in nature with an uptrend chance in the long term based mostly on its basic power. The 50 EMA of $0.36 may very well be the following goal provided that the constructive ingredient continues. Read our FTM value prediction to know if there may be any chance of an uptrend.

The final two months of value motion, particularly May to July, have been pretty consolidation in nature with no indicators of a bullish final result and a lower in damaging sentiments. Essentially this sort of value motion signifies its correlation with Bitcoin since most altcoins are following an identical value development.

Fantom token at its peak touched a market worth of $3.3 in January 2022 when nearly all of tokens have been on a damaging monitor. However, owing to this correlation, it felt arduous shedding greater than half of its worth in simply 5 months. 

Since April’s first week, the FTM token has traded within the damaging zone beneath the 20-day EMA and moved above this EMA solely two weeks in the past. Today, FTM is once more trying to overcome the 20 EMA curve, and with a constructive breakout, it might probably transfer forward towards the following goal of fifty EMA.

In the final two weeks, the RSI indicator has been pointing in direction of a stagnant sentiment whereas MACD continues to transfer in direction of the constructive axis to showcase a basic power in its value motion. 

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