The entire cryptocurrency market cap is encountering a minor correction after retesting at a crucial resistance. Besides, DeFi space dumped by over 10% in 24 hours. While the Fantom(FTM) price outshines most of its opponents in the space with 9.97% profits round the clock.
Fantom is one of the solid performing tokens among layer 1 smart contract platforms throughout the year. Moreover, the Total Value Locked (TVL) on the blockchain network has soared from $500 million to $4.39 billion. Since the launch of the liquidity mining program on September 1st, 2021.
Fantom’s Vivid Move Compels More Traders On the Floor!
Fantom’s vibrant move in terms of collaborations and developments has triggered massive price action in the past 2 months. In the recent update, Santiment, a crypto metric platform recalled the recent ATH achievement of the FTM price. The report further highlighted the recent surge in the platform’s development activity. However, the increasing expansion of the ecosystem has garnered a lot of attention across the space.
As per the recent reports, the platform has recently surpassed 100 million transactions. The network has registered over 950k unique wallets and more than 80k daily active wallets. In addition, the blockchain recorded 750k average transactions per day. Groundbreaking collaborations are underway, the token looks promising for the rest of the quarter.
However, the token has been consolidating post-brushing its new all-time high at $2.68 recently. The DeFi token is currently residing at around $2.50. As the RSI factor has been sliding across the overbought territory, soon selling may occur. Therefore, the altcoin could further retest at $2.20 before taking another leg up to the new highs!
Collectively, the Fantom ecosystem growing day by day with its splendid performance. Along with FTM its counterparts API3, COTI, GRIM experienced massive gains of 42.4%, 54.3%, and 625% respectively over the last 30 days.