Fantom Shocks the Market with 195% Increase-Here is the Reason why

Here is how Fantom Shocks the Market

The price of Fantom’s native cryptocurrency, FTM, increased by more than 103% over the course of the past 14 days and by 195% over the course of a month. Fantom is a decentralized smart contract platform for DApps. At the time of this writing, the price of Fantom on exchanges was $0.6302, representing an increase of 11% from the previous day. According to CoinGecko, FTM had a market capitalization of $1.7 billion and a 24-hour trading volume of $742 million. Both of these metrics had climbed by anywhere between 10% and 25% in the previous day.

When Did Fantom’s Bull Run Begin?

The entire cryptocurrency market has begun a positive trend as a direct result of the failure of the cryptocurrency exchange FTX. Additionally, the price of Bitcoin is continuing its upward trajectory with a green candle for the fifth week in a row, extending its streak to five weeks in total. A 42% increase in comparison to the previous month’s pricing, the price of Bitcoin was traded at a level of $23,561, which is an increase. Despite this, the total value of all cryptocurrencies that are traded on the global market reached somewhere in the area of $1.12 trillion after only three months. Additionally, significant upward movement can be seen in the pricing of various alternative cryptocurrencies.

Without a shadow of a doubt, Fantom (FTM) is one of the coins on the market that saw a significant increase during the month of January. The FTM stock price increased by more than 185% on a daily basis between January 1 and the time this article was written. After nine months, FTM was trading inside a range that the asset had been at in May 2022, which was somewhere around $0.6302. Despite this, Fantom is still trading at a price that is a significant discount to its all-time high of $3.46, which was reached on October 28, 2021.

In addition, Fantom generated a buzz on social media due to its recent updates and huge price movements, which were comparable to those of Bitcoin and appeared on the chart as a continuous green candle for five weeks. And the cryptocurrency community gave Fantom’s gas monetization program a lot of positive feedback. The initiative makes it possible for developers of decentralized applications (dApps) of the highest quality to make a living.

In addition, the price of Ethereum (ETH), the second most valuable cryptocurrency, increased by around 36% in a single month. Also, several alternative cryptocurrencies, such as Polygon (MATIC) and Solana (SOL), as well as memecoins Dogecoin (DOGE) and Shiba Inu, experienced price increases (SHIB).

Fantom Shocks the Market FTM Escapes Bearishness