Altcoins

FTM Primed To Hit $2 This Week! These Factors Fueling Fantom’s Double-Digit Gains!

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Mar 17, 2022

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Highlights

    FTM Mainnet goes live on leading social investment network eToro.

    FTM price takes a 14% shoot, whilst volumes register a 95% uptick on the chart.

The world of cryptocurrencies has been witnessing a rise of a number of digital assets from its portfolio. Amongst the number of higher-performing alts, Fantom has been scripting its name with double-digit gains. The spike in FTM’s numbers comes following its listing on a leading social investment network eToro.

Successively, FTM price sees a 14% surge over the day, whilst volumes register a 95% uptick. Wherefore, investors and merchants pin hawkish sight around the foot movements of the digital asset. With an intent to extract higher yields from their investments.

Has This Factor Turned Tables For Fantom?

  Fantom has had to face south, following the exit of DeFi developers Andre Cronje and Anton Nell. However, the protocol now seems to have overcome the gloom, following its listing on social investment network eToro. Successively, eToro’s announcements of them listing FTM has brought in the fuel for FTM’s double-digit gains.

Successively, according to LunarCrush, Fantom has hit the altrank of 1 out of the top 3,602 coins across the market. Moreover, over the past 24-hours, Fantom has seen 29,380 social volumes, and 21,675,666 social engagements. On the other hand, the bullish sentiments have shot up 73.1% over the week.

Coming to other analytics, the network has made a total of 223.15 M transactions. While the current processing speed is at 6.0 TPS. The daily transactions have been on a steady decline since the peaks from the 25th of February 2022. Where 14,058 new addresses were seen.

Although the network has made attempts of a rebound, following the bottoms on the 5th of March. The numbers have taken a fall yet again, with 11,497 new addresses on the 15th of March 2022.

 

Is FTM Price Inching Closer To Its Next Target?

Fantom price has come a long way over the past week, from the bottoms of $1.04. And where the demand area was around $1.15, which was refuted following the star crypto’s healthy projection. As aforesaid, the listing has been pivotal in FTM price retracing its numbers. 

FTM price at the time of writing is changing hands at $1.20 with profits of 14.27% over the day. Whilst the market cap is hovering around numbers at $3,052,718,131. The volume of trades around the clock is up at an astonishing 95.62%, at $1,694,006,802. FTM price is ranging in the 24-hour bandwidth from the lows of $1.05 to the highs of $1.26.

In concluding, as previously said, the listing of Fantom on eToro has been one of the pivotal factors behind the gains. That said, we can also look forward to an ascend in daily transactions, with the new listing. If the altcoin keeps up with its current pace, we can expect the price claiming $1.5 by the coming weekend.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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