Fantom (FTM) Gains Demand As Investor Confidence Increases
BeInCrypto – Fantom (FTM) prices are up 36% since hitting an all-time low of $0.33 on March 11. Online data shows that FTM is attracting new demand. There is a chance that Altcoin price will break above 0.50 USD. In the coming weeks?
New and existing investors are joining the Fantom Network, while long-term asset holders are bullish.
Long-term FTM holders are more confident.
Fantom is a DeFi alternative smart contract platform that aims to solve the Blockchain Trilemma by using an Acyclic Graph Consensus Algorithm (DAG). After falling below $0.35 Mid-March 2023
after selling assets It was extremely profitable in February 2023. Long-term investors in the Fantom network appear to be benefiting from another increase in value. According to online data from Santiment, FTM’s Mean Money Age has been on the rise recently.
As the red line below shows, the FTM Mean Coinage has increased from 19 to 47.35 between February 12 and March 30, 2023.
Age of Fantom Mean Coins (FTM). March 2023. Source: Santiment
Data on average coin age (90d) based on the average number of days FTM coins have been around at current rates. The increase in price shows that in the long term the holders of the asset are more confident in the fundamental value of the FTM and its future price prospects.
In addition, the growing wave of new investors joining the Fantom network confirms its positive position. The number of new wallet addresses created on Fantom increased significantly in March 2023 according to Santiment.
The chart below shows that the number of new FTM wallet addresses created has increased from 46 addresses on March 6th to 201 addresses on March 30, 2023.
Fantom Network Growth (FTM). March 2023. Source: Santiment
The enlarged network indicates that more investors are using Fantom’s native DAG technology, suggesting that blockchain is becoming more mainstream and has potential for a wider range of use cases.
especially As network growth increases along with the tendency of long-term asset holders to accumulate This often results in increased demand for underlying cryptocurrency.Furthermore, FTMs are likely to experience a prolonged rise if crypto investors see this as opportunity to buy assets.
FTM Price Forecast: $0.60 Is Achievable Target
The Global In/Out of Money (GIOM) data provided by IntoTheBlock shows the current distribution of FTM wallet holdings. based on average purchase price
Fantom’s Detailed Analysis of GIOM Data Shows FTM Could Break the $0.47 Sell Wall This is the highest price 3,800 addresses have paid for 1 billion FTM tokens, however, if the FTM price can break above the $0.47 level, it could move up to the next resistance zone of $0.60 in price. Also, 4,670 addresses bought $75 million worth of tokens.
Global Data In/Out of Money (GIOM) Fantom (FTM). March 2023. Source: IntoTheBlock
However, a Bear Market can invalidate a bull run if FTM prices fall below $0.40. where 1,500 addresses were purchased for $55 million. However, Fantom platform fixed token price may drop until it reaches $0.33. The token price is around $0.33, with 9,400 addresses buying 391 million FTMs can support it.
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