Tag Archives: Fantom price

Financial Metrics React To Sonic Blockchain Anticipation

August 11, 2024 RecentlyHeard Leave a comment

The Fantom blockchain noticed combined efficiency within the second quarter (Q2) of the yr, with key monetary metrics cooling amid the broader cryptocurrency market downturn and the Fantom Basis’s announcement to rebrand as Sonic Labs, in accordance with a brand new report from information intelligence agency Messari.

FTM Market Cap, Income, And Token Economics

After outperforming in Q1, Fantom’s circulating market cap decreased 41% quarter-over-quarter (QoQ) from $2.8 billion to $1.7 billion. Nevertheless, the token’s market cap continues to be 94% increased year-over-year (YoY) in comparison with Q2 2023.

Fantom’s market cap lower. Supply: Messari

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Income, which measures gasoline charges collected by the community, fell 42% QoQ from 1.8 million FTM to 1.0 million FTM. In USD phrases, income decreased 38% QoQ from $1.2 million to $0.8 million.

This decline follows a spike in Q3 2023 attributable to exercise round non-fungible token (NFT) inscriptions, however in accordance to Messari, income is anticipated to rebound as on-chain exercise picks up throughout the broader crypto area.

The report additionally highlights modifications to Fantom’s token economics in the course of the second quarter. The Ecosystem Vault and Gasoline Monetization program had been launched in This autumn 2022, lowering the burn fee of transaction charges from 30% to five% and reallocating the remaining 25%.

By the top of the second quarter, the circulating provide of the protocol’s native token FTM reached 2.8 billion, with an annualized inflation fee of three% – up 25% quarter-over-quarter.

Fantom On-Chain Exercise Slows

Fantom’s on-chain exercise additionally trended decrease in Q2. Each day transactions averaged over 223,000, down 10% QoQ from 247,000. Each day lively addresses fell 21% QoQ to 31,900, although the report notes a reversal of this development in the direction of the top of the quarter.

New handle development additionally slowed, dropping 47% QoQ to five,000 per day on common. Nevertheless, the report highlighted some constructive developments, together with a rise within the variety of lively validators on the community.

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After a governance proposal diminished the staking requirement from 500,000 FTM to 50,000 FTM, the variety of lively validators grew 6% QoQ to 58, with 14 having lower than 500,000 FTM self-staked.

Staked FTM additionally noticed inflows for the second straight quarter, growing 5% QoQ to 1.3 billion tokens. However the complete greenback worth of staked FTM decreased 39% QoQ to $780.4 million because of the token’s value depreciation.

Fantom’s complete worth locked (TVL) in decentralized finance (DeFi) functions decreased 28% QoQ to $91.2 million, rating it forty second amongst blockchain networks. Nevertheless, TVL denominated in FTM elevated 22% QoQ, suggesting capital inflows regardless of the token’s value decline.

On the time of writing, FTM was buying and selling at $0.3345, up simply 1% over the previous 24 hours. Within the month-to-month timeframe, the coin is down 27% over the previous month amid the broader market decline.

Featured picture from Shutterstock, chart from TradingView.com

Bitcoin

Crypto Analyst Says Ethereum Competitor Fantom (FTM) Could Jump To $1.2

June 30, 2024 RecentlyHeard Leave a comment

Crypto analyst Altcoin Sherpa has supplied a bullish narrative for Fantom (FTM), suggesting that the crypto token might quickly make a major rally to the upside. The analyst additionally hinted at how Fantom might rise when this occurs.

Fantom Might Rise To As Excessive As $1.2

Based mostly on the chart Altcoin Sherpa shared, Fantom might rise to as excessive as $1.2 on its subsequent leg up. Within the meantime, the analyst famous that the crypto token is consolidating at a key stage. He added that he expects Fantom to type a chop vary between $0.50 and $0.70 for a bit, in order that vary might function help because it strikes to the upside.

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Supply: X

Altcoin Sherpa sounded optimistic about Fantom’s trajectory, stating that he believes FTM will nonetheless be a “respectable mission” going ahead, particularly with the transfer to Sonic. In Might, the Fantom Basis introduced plans to construct Sonic, a layer-1 blockchain with a layer-2 community that connects to Ethereum.

Crypto analyst Bitcoin Ape additionally shared a sentiment much like Altcoin Sherpa, predicting that Fantom might rise to $1.2. The analyst said that FT’M’s rally might occur as soon as there’s a market restoration, with Bitcoin main the best way. Particularly, Bitcoin Ape highlighted a falling wedge sample shaped on Fantom’s chart, which confirmed {that a} worth rally was imminent.

Like Altcoin Sherpa, Bitcoin Ape additionally alluded to Fantom’s pivot to Sonic as a bullish basic for the crypto token. The analyst famous that Fantom has been on a “large revamp currently” with a number of updates, together with the launch of Sonic Labs. He additionally talked about the over $100 million in $S (Sonic’s native token) airdrop, which might appeal to builders and customers to Fantom’s ecosystem.

Within the meantime, Bitcoin Ape predicts that Fantom might expertise extra volatility within the coming days as a result of it’s presently oversold. Nonetheless, as soon as the crypto token leaves its oversold situation, the crypto analyst expects that breakout to occur.

FTM Might Drop To As Low As $0.45 Earlier than Subsequent Leg Up

Crypto analyst Ijaz Awan not too long ago predicted that Fantom might drop to as little as 0.45 earlier than its subsequent transfer up. He famous that Bitcoin’s weak spot is dragging altcoins like FTM down, which is why Fantom struggles to achieve momentum. As such, he predicts that the crypto token might expertise a interval of consolidation between $0.45 and $0.55 earlier than its subsequent leg up.

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Nonetheless, the analyst warned that Fantom can not afford to lose that vary of help. He prompt {that a} drop beneath that worth stage would invalidate his construction and will result in additional worth declines for the crypto token.

On the time of writing, Fantom is buying and selling at round $0.54, down over 3% within the final 24 hours, based on knowledge from CoinMarketCap.

Fantom (FTM) price chart from Tradingview.com — FTM worth nonetheless holding above $0.5 | Supply: FTMUSDT on Tradingview.com

Featured picture created with Dall.E, chart from Tradingview.com

Bitcoin

FTM’s Key Support At Risk As Fantom Launches Sonic Foundation And Wraps $10M Funding

May 24, 2024 RecentlyHeard

The Fantom Basis has lately disclosed its plans to determine the Sonic Basis and Sonic Labs in preparation for the launch of its Sonic blockchain.

In an announcement on Thursday, the inspiration expressed its dedication to leveraging its expertise and revealed further particulars in regards to the upcoming developments.

Fantom Introduces Sonic Chain

In response to the inspiration’s weblog submit, with the completion of the improve for his or her Opera chain on the horizon, Fantom is directing its focus in the direction of creating a brand new “high-throughput” chain referred to as Sonic (S).

The introduction of the Sonic community will coincide with the institution of the Sonic Basis, which can assume duty for governance and treasury administration capabilities. Moreover, Sonic Labs will spearhead the expansion of decentralized purposes (dApps), partnerships, and person engagement.

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Developed below the steering of Professor Bernhard Scholz, a digital machine developer, and led by decentralized finance (DeFi) professional Andre Cronje, the Sonic chain represents a brand new sort of Layer-1 platform with a local Layer-2 bridge related to the Ethereum (ETH) community.

The Sonic chain is reportedly designed to function a Layer 1 answer related to Ethereum through a Layer 2 bridge. This integration is meant to permit Sonic to leverage Ethereum’s liquidity, person base, and protocols.

Because of this, the community will mix the advantages of a Layer-1 platform, corresponding to affordability, scalability, and velocity, with the safety of a Layer-2 bridge, offering entry to native ETH and different property on Ethereum.

$10 Million Raised In Strategic Funding Spherical

Concerning the “S” token, a latest governance vote has secured compatibility and migration between the decentralized platform’s native token FTM and S on a 1:1 foundation.

Fantom additionally introduced the profitable completion of a $10 million strategic funding spherical led by Hashed, one in every of Korea’s cryptocurrency funds. This funding initiative for the inspiration is predicted to increase additional within the coming months.

Along with Hashed, UOB Ventures, Signum Capital, and Aave (AVE) Basis, together with angel buyers Stani Kulechov, Robert Leshner, Michael Egorov, Fernando Martinelli, Tarun Chitra, and Sam Kazemian, and particular person companions from UOB, have all offered help through the funding spherical.

The capital raised within the newest spherical of funding will likely be used solely to help strategic development initiatives and ecosystem improvement inside the Fantom community, in keeping with the inspiration’s assertion, which concluded by saying:

Our group is steadfast in exploring how the Sonic chain can influence and elevate a number of completely different DeFi and real-world use circumstances. Industries and purposes corresponding to real-world property, perpetual DEXs, funds, buying and selling, and high-transaction-based video games, will be remodeled by the velocity and excessive throughput of Sonic.

FTM Faces Potential Downtrend Continuation

Regardless of these developments, the FTM token has exhibited a lackluster response to the profitable funding spherical and the potential advantages of the Sonic chain.

Because of this, the token has declined by over 4% inside a 24-hour interval, placing a big stage of help for the native token in danger.

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At present buying and selling at $0.8033, the FTM token’s instant prospects hinge on the essential $0.7994 help stage. A breach of this help might result in additional value declines, with the subsequent main help at $0.755.

Alternatively, if renewed bullish momentum and elevated shopping for strain emerge, the token might encounter resistance on the $0.844 and $0.8750 ranges earlier than probably retesting the important thing $0.9 zone. Reclaiming the $1 milestone stays pivotal for the token’s total outlook.

Featured picture from Shutterstock, chart from TradingView.com

Bitcoin

Fantom Price Continues To Shine

May 19, 2024 RecentlyHeard

Fantom worth has been such a pleasure to look at for traders in current days, as a much-needed breath of contemporary air continues to unfold all through the crypto market. Bitcoin and different large-cap property appear to be recovering effectively after a interval of sluggish and irritating worth motion.

Notably, Fantom emerged as among the finest performers within the cryptocurrency market over the previous week, posting a considerable 26% worth enhance within the final seven days. The Layer 1 token has notably been on a scorching streak prior to now day, hovering by 15%.

The Catalyst Behind The Newest FTM Surge

The much-awaited Sonic improve has been vital to the turnaround the Fantom worth has witnessed prior to now few months. Sonic is anticipated to enhance Fantom’s expertise stack and introduce main scalability enhancements with no disruptive onerous fork.

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Most not too long ago, the Fantom Basis unveiled the small print of the upcoming layer-1 chain Sonic Community. In keeping with the weblog publish, the brand new blockchain community will likely be linked to and be capable of faucet into huge quantities of liquidity, customers, and protocols from “Ethereum and past” by way of a local layer-2 bridge.

As disclosed beforehand, the Sonic Community is anticipated to go dwell alongside a brand new token, with the ticker S. Within the newest memo, the challenge revealed that FTM token holders will be capable of migrate Sonic’s token at a 1:1 ratio, relying on the outcomes of a governance vote.

The Fantom Basis stated in its newest weblog publish:

Initially, this migration course of is anticipated to be bi-directional, which can enable customers to swap backwards and forwards between $FTM and $S. For the reason that $S token will solely exist on Sonic and $FTM will solely exist on Opera, we anticipate using a bridge to allow bi-directional swaps. This course of permits a seamless migration for present Opera community individuals to expertise Sonic. After a transitional interval (to be decided sooner or later), the migration course of is anticipated to transition to a one-way migration of $FTM to $S.

The challenge famous that the availability of the brand new S token will match that of FTM to facilitate the token migration course of after the Sonic chain launch. It’s price mentioning that the Fantom worth skilled a big surge following this replace on the Sonic Community on Could 17.

Fantom Value At A Look

As of this writing, the Fantom worth is round $0.908, reflecting an nearly 15% enhance prior to now 24 hours.

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Fantom Price — Fantom worth getting ready to $1 on the day by day timeframe | Supply: FTMUSDT chart on TradingView

Featured picture from iStock, chart from TradingView

Bitcoin

8% Price Surge And Robust Double-Digit Growth In Key Metrics

May 8, 2024 RecentlyHeard

Fantom (FTM), a Layer-1 (L1) protocol, and its native token, FTM, have skilled important good points and notable achievements within the first quarter (Q1) of 2024.

In keeping with a complete efficiency evaluation performed by Messari, amid the rising crypto bull market, Fantom has emerged as one of many main beneficiaries, displaying important development in key metrics and market capitalization.

FTM Market Cap Soars 101% QoQ

By the numbers, FTM’s circulating market capitalization noticed a considerable 101% quarter-over-quarter (QoQ) enhance, leaping from $1.3 billion to $2.6 billion, vaulting it up ten spots to forty eighth amongst all tokens (at present 58th). The token’s rally prolonged for 2 consecutive quarters, leading to a fourfold enhance for the reason that finish of Q3 2023.

Fantom’s circulating market cap and income throughout Q1. Supply: Messari

Though Fantom skilled a lower of 53% QoQ in income measured in FTM, amounting to 1.8 million FTM, income denominated in USD exhibited a 4% QoQ enhance, reaching $1.2 million.

In keeping with Messari, the income decline was primarily resulting from decreased inscription exercise throughout all sensible contract platforms in Q1.

Regardless of this, Fantom maintained an upward pattern in common each day transactions, excluding inscription-related exercise, surpassing the Q3 common and reaching 247,000 each day transactions. Every day lively addresses additionally rebounded, rising by 24% QoQ to 40,500.

In Q1, the staking requirement for Fantom validators was considerably decreased from 500,000 FTM to 50,000 FTM, aiming to extend accessibility. Nevertheless, the variety of lively validators remained unchanged at 55.

Notably, the full quantity of FTM staked elevated by 17% QoQ, from 1.1 billion to 1.3 billion FTM, leading to a 135% QoQ surge within the complete greenback worth of staked FTM, reaching $1.2 billion. Amongst proof-of-stake (PoS) networks, Fantom ranked twenty second within the greenback worth of funds staked by the tip of Q1.

Memecoin Mania Boosts Fantom On-Chain Exercise

Throughout the 12 months’s first quarter, Whole Worth Locked (TVL) denominated in USD skilled a considerable 59% QoQ enhance, rising from $810.8 million in This autumn to $1.28 billion.

Conversely, TVL-denominated in FTM decreased by 21% QoQ, indicating that the surge in USD-denominated TVL was partly attributed to FTM’s value appreciation.

Fantom’s common each day decentralized alternate (DEX) quantity surged by 64% QoQ, from $10.2 million to almost $176.8 million. In Q1, the “Memecoin Mania” pattern contributed to elevated on-chain exercise throughout numerous networks, together with Fantom.

Fantom’s month-to-month DEX quantity surpassed $1 billion in March, marking the primary time since March 2023. The variety of DEXs on Fantom elevated to 31 by the tip of Q1, with no single DEX dominating greater than 30% of the market share.

Lastly, following an exploit within the Multichain: Fantom Bridge, which affected stablecoins on Fantom in Q3 2023, the Fantom Basis took steps to extend the liquidity of stablecoins.

As of Q1 2024, two impartial third-party bridging options, Axelar (axlUSDC and axlUSDT) and LayerZero (lzUSDC and lzUSDT), have emerged. USDC stays the predominant stablecoin on Fantom, accounting for 98% of the stablecoin market cap. USDT additionally skilled appreciable development, with an 86% QoQ enhance.

The FTM token is at present buying and selling at $0.7037, reflecting an 8.7% enhance in value over the previous seven days. Nevertheless, it has skilled a decline of almost 20% within the month-to-month time-frame.

Featured picture from Shutterstock, chart from TradingView.com

Disclaimer: The article is supplied for academic functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You’re suggested to conduct your personal analysis earlier than making any funding selections. Use data supplied on this web site fully at your personal danger.

Bitcoin

Crypto Analyst Predicts A Jump To $1.2 For FTM Price

May 4, 2024 RecentlyHeard

Fantom (FTM) had initially reclaimed the $1 stage again in March and expectations have been that the coin would rise to $2. However that was earlier than the market crash despatched costs spiraling, and Fantom misplaced nearly 50% of its worth throughout this time. Nevertheless, all hope is just not misplaced of for the coin, as one crypto analyst expects a return of the bullish momentum so long as sure circumstances are met.

Fantom Looking For Help

Crypto analyst MyCryptoParadise took to TradingView to share their evaluation on the Fantom value and the way it might see a restoration. After the worth fell to $0.56, the altcoin started to search for assist, which might function a bounce-off level, and the analyst revealed that the altcoin is definitely getting nearer to this assist.

For now, the assist lies at $0.5679, which is the purpose that bulls want to carry to substantiate a bullish breakout. Following a rejection on the $0.79 resistance, this level has grow to be much more necessary to carry, because the FTM value searches for “renewed momentum.”

“Ought to FTM efficiently discover assist and bounce from this stage, it might probably kind a double backside sample, with the neckline performing as resistance across the 0.798 mark,” the crypto analyst stated, highlighting the significance of discovering assist.

Within the occasion of a breakout, the analyst expects at the very least a 100% transfer from right here. The primary main stage to interrupt it the $1 stage, after which after that, the crypto analyst sees the worth going as excessive as $1.2 so long as the development is confirmed.

FTM price chart from Tradingview.com (Fantom)

Supply: TradingView.com

FTM May Break Down Additional

On the flip aspect of this, the crypto analyst additionally identifies a situation the place the Fantom value might proceed to interrupt down. Within the occasion that the altcoin is unable to seek out assist above $0.56 and breaks by means of it as an alternative, the massacre might proceed.

The bearish continuation which the analyst sees in a state of affairs like it will ship the worth beneath $0.5 ultimately. The assist for the FTM value then lies on the subsequent Bullish OB space, which the crypto analyst identifies to be round $0.449.

“💎 Reclaiming the assist at 0.568 can be essential for FTM to take care of its bullish momentum,” the analyst stated. “Ought to FTM fail to bounce even after reaching the Bullish OB space, it will sign a bullish invalidation, indicating a continuation of the bearish development.”

Presently, the Fantom value is trending above assist at $0.6641. Nevertheless, it’s down 3% within the final day with 10% losses within the final week.

Fantom price chart from Tradingview.com

FTM value continues to recuperate | Supply: FTMUSDT on Tradingview.com

Featured picture from Analytics Perception, chart from Tradingview.com

Disclaimer: The article is offered for instructional functions solely. It doesn’t symbolize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your personal analysis earlier than making any funding selections. Use data offered on this web site solely at your personal danger.

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