These Altcoins Are Seeing High Whale Interest After Fed Rate Cut

On-chain data shows three altcoins are observing a high transaction activity from the whales after the US Federal Reserve (Fed) announced a rate cut. Whale Transaction Count Has Spiked For These Altcoins Recently In a new post on X, the on-chain analytics firm Santiment has discussed the Whale Transaction Count trend for three altcoins. The “Whale Transaction Count” here refers to an indicator that keeps track of the total number of transactions taking place on a given cryptocurrency network that involves a value of more than $100,000. Transfers of this scale are typically associated with whales, the largest entities on the network, so the indicator’s value can provide hints about the current activity from this cohort. Related Reading: Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000 When the value of this metric is high, it means the whales are making a large amount of moves right now. Such a trend implies these humongous holders have an active interest in trading the coin. On the other hand, the indicator having a low value suggests this group may not be paying too much attention to the asset at the moment as they aren’t making that many transfers. Now, here is a chart that shows the trend in the Whale Transaction Count for three altcoins, Immutable X (IMX), Fantom (FTM), and Basic Attention Token (BAT), over the last few weeks: As displayed in the above graph, large spikes in the Whale Transaction Count have been observed for all of these altcoins over the last couple of days. This would suggest that the whales have suddenly become very active on these networks. The timing of the spikes would mean this activity is likely related to the interest rate cut announced by the Fed. While the high values indicate a surge in trading interest from the whales, the Whale Transaction Count alone can’t tell us what sort of trades these humongous investors are making exactly. Buying and selling transactions both look the same from the perspective of the indicator, and thus, carry the same weightage in its count. What can provide hints about whether accumulation or distribution is dominant, though, is the surrounding price action. Bitcoin and the altcoins as a whole, including Immutable X and company, have surged since the Fed announcement, so the increased whale activity could be associated with buying. Related Reading: Will Bitcoin Bullish Swing Continue? Top Analyst Says Yes Naturally, any further spikes in whale activity aren’t necessary to be bullish, but Santiment notes that if Bitcoin and others continue to grow, then these altcoins can also thrive off a high Whale Transaction Count. IMX Price Immutable X has continued the latest bullish push during the last 24 hours with another surge of almost 10%, which has taken its price to $1.58. The below chart shows how the recent performance of IMX has been like. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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Fantom (FTM) Surges 50%, Eyeing 345% Growth Potential to $3 Mark

Javon Marks has recently pointed out that the price of Fantom (FTM) has grown by almost 50% since the last major update. He stated that this could only be the begining for FTM, as he believes that there is room for even more significant improvements in the coming year. As outlined in his analysis, Fantom […]

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Fantom To $2: Heres Whats Driving The FTM Price Recovery

Fantom (FTM) is enjoying much bullish momentum at the moment, and the odds of the coin rising to as high as $2 has increased. The FTM price recovery is thanks to Fantoms fundamentals, which have sparked a positive sentiment among investors.  What Is Driving The FTM Price Recovery Fantoms price recovery is mainly driven by its bullish fundamentals, especially the imminent launch of the Sonic network. In a recent blog post, Sonic Labs announced that Sonics launch is scheduled for November/December 2024. Investors consider Fantoms transition to Sonic bullish, which explains why they are investing in the FTM ecosystem ahead of the launch.  Related Reading: Cardano (ADA) Enters Stage 3 That Will Trigger 4,500% Rally To $15 According to the announcement, the layer-1 network Sonic will be EVM-compatible, enabling decentralized applications (dApps) built on other EVM chains to be integrated into the network easily. The network will provide a secure gateway to Ethereum through its layer-2 network.  The post also claimed that Sonic will provide the fastest settlement layer for digital assets with over 10,000 TPS and one-second confirmation times for transactions ” upon launch. This feat will set a new standard in the blockchain space and put Sonic ahead of its competitors.  Meanwhile, following Sonics launch, there will be an airdrop, which will cause more liquidity to flow into the Fantom ecosystem and further spark the FTM price recovery. The Sonic Foundation will airdrop 190 million S tokens out of its 500 million treasury to Fantom users.  It is worth mentioning that FTM holders can swap their coins 1:1 for the S token, Sonics native token, upon the launch of the new layer-1 network. Meanwhile, the S token will not experience any inflation in the first six months, which is positive since investors can rest assured that there wont be a supply shock following Fantoms transition to Sonic.  Other bullish fundamentals sparking the FTM price recovery include the fact that Andre Cronje, Sonic Labss co-founder, will build new decentralized finance (DeFi) primitives, with 90% of gas spent said to be going back to applications and developers.  The Charts Also Support Fantoms Bullish Fundamentals Crypto analyst Jagoilio recently highlighted how the charts support the FTM price recovery, with the coin likely to rise higher. He stated that Fantom has moved past its bearish trend and is now looking to break its diagonal resistance. He added that this presents the notion that the crypto is enforcing a bullish market structure and seeking a higher high. Related Reading: Analyst Identifies $0.75 As Most Crucial Target For XRP Price In The Campaign For $1 The analyst expects Fantom to enjoy a massive price rally in the fourth quarter, especially following the Fed rate cuts and the US presidential elections. Jagoilio went as far as asserting that FTM can outperform Bitcoin and Ethereum. He also claimed that Sonic will become the supreme layer-1 solution and outperform Solana.  According to data from CoinMarketCap, FTM is trading at around $0.57 at the time of writing, up over 9% in the last 24 hours.   Featured image created with Dall.E, chart from Tradingview.com

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FTM Rockets 17% Amid Growing Interest In Fantom Ecosystem

Fantom (FTM) has been soaring 17% over the past week, on a quite decent trend, with strong support recorded in the area of $0.47-$0.48, data from IntoTheBlock indicates. This suggests that the price jump may be connected to increased demand and growing network interest. Related Reading: Bitcoin On Track For $92,000 Bounce In 3 Months, Analyst Predicts Approximately 1,560 addresses bought 242.56 million FTM tokens in this range, thereby providing a firm base for the recent run. Crypto trader Mister Crypto mentioned the network’s ongoing development, saying, “Its one of my major holdings, and I believe it will eventually see a massive leg up.” The trading volumes show growing interest; CoinMarketCap notes that they jumped over 150% last week. Rising Total Value Locked by $2 billion is driving expansion of the DeFi ecosystem. Will FTM, however, be able to overcome crucial resistance? Let’s dig deeper into numbers. Fantom IOMAP chart. Source: IntoTheBlock DApp Volumes Triple Overnight The Fantom ecosystem is also performing well and more so in the dApp space. According to the report by DappRadar, volumes rose from $3.4 million to $9 million within just 24 hours, showing how relevant the network was in decentralized applications. DeFi activity on Fantom has also increased much as data from DeFiLlama indicate that TVL of the network stands at $77 billion. This boom attracts not only traders but also developers and makes Fantom a strong player in the DeFi area. While these developments are promising, the actual test would be if FTM can break through its long-standing resistance level. FTM Hits Major Resistance FTM had been retesting a resistance point of $0.52 for weeks, and, with multiple pushes to break through, it has failed on many occasions, causing each failure to result in a bearish reversal, although there are signs that FTM might finally break this trend. FTM’s CMF has also flipped positive, indicating strong buying pressure. OBV is rising accompanied by an increase in trading volume. Confirmation of the trend will be coming if OBV breaks above its “smoothing line.” Breaching $0.52 will open the way for further rally to the 1.618 level at $0.63. 13. Fantom $FTM This is not a shiny new coin, but an OG coin with a lot of development behind the scenes. Its one of my major holdings, and I believe it will eventually see a massive leg up. It might take some time, but I think it will happen eventually. pic.twitter.com/hFiGts2X2N Mister Crypto (@misterrcrypto) September 10, 2024 What’s In Store For Fantom? Mister Crypto shares some optimism about the future for Fantom, saying that all the silent development work is going on in the background. He believes that though FTM may take some time to take off, the network is in for huge long-term growth. The most exciting new development lies in the Sonic upgrade, which should roll out around the end of 2024. Related Reading: Avalanche Revenue Nosedives Over 40% In Q2 Impact On AVAX Price It means Sonic will bring a new Fantom Virtual Machine, an optimized Lachesis consensus mechanism, and advanced database storage. These upgrades will help improve the network speed and scalability. All these upgrades can make the network more appealing to developers and investors alike. Looking ahead, Fantom’s strong on-chain support combined with some technical upgrades on the horizon keeps it primed and ready to display excellent growth going forward. Despite this, a push above the $0.52 resistance level remains an immediate necessity, the outlook long-term does indeed look hopeful with the Sonic upgrade and growth of DeFi. Featured image from Shrimpy Academy, chart from TradingView

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Fantom (FTM) price surges 40% in a month Whats behind the momentum?

Fantom price flashes a classic bullish trading pattern which could extend its month-long double-digit rally.

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Fantom (FTM) Sees 13% Gains as Crypto Market Turns Positive

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Fantom 2.0: Sonic Upgrade Set to Transform Speed and Efficiency

Fantom, a key player in the world of the blockchain, is going through a remarkable transformation with the Sonic upgrade which is the latest addition to its product line. It is not simply a brand identity change; it is a revolutionary change for the better that is going to set this platform apart and put […]

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Fantom Price Prediction for Today, August 21 FTM Technical Analysis

The Fantom price prediction shows that FTM remains in the green as the coin market gains 4.01% within the channel. Fantom Prediction Statistics Data: Fantom [...]

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FTM: Core Proposals Spark 16% Rally Ahead Of Sonic Mainnet Launch Details

Fantoms migration to Sonic is now underway, putting the platform under the spotlight which caused FTM, the native token of Fantom, to jump. According to CoinGecko, FTM gained more than 17% since last week, representing the hype their network migration caused within the community.  Related Reading: Celestia (TIA) Gains 14% Following Network Upgrade Announcement The new Sonic Labs is poised to continue Fantoms legacy as four core proposals are now underway for the eventual release of the Sonic mainnet. If passed, the proposals will provide users and developers with a smooth transition to the Sonic network once D-day arrives.  Core Proposals Promise Smooth Transition To Sonic According to the Sonic Labs X account, four proposals will affect the user experience during the switch to the Sonic network. The most notable is the proposed one-to-one ratio between FTM and $S, the native token of the new network. The new token will act like the old FTM token, with 3,175,000,000 $S tokens on Genesis Day.  With @MessariCrypto‘s Q2 2024 report, we looked back at the latest quarter in the world of #Sonic, including 4 governance proposals: 190.5M $S Airdrop $FTM to $S Compatibility Ongoing Funding Validators/Builders Let’s explore the report pic.twitter.com/Sypi35TTF4 Sonic Labs (prev. Fantom) (@0xSonicLabs) August 13, 2024 As a general thank you gesture to Opera users, the platform will allocate over 190,500,000 $S tokens to airdrop. The airdrop also has safeguards to protect the market from a sudden influx $S tokens. It will have a burn mechanism that penalizes users who choose to claim their airdrop position on day 1, burning almost 100% to 88.9% of the tokens vested for the user.  This gives users time to contribute to the overall on-chain activity while providing a guaranteed long-term gain. The new users are also eligible to receive the airdrop once the network is released.  4 Validators/Builders This proposal approved: Validator rewards migrated from Opera to #Sonic Apps in GasM can earn up to 90% of gas with a new burn model Ecosystem Vault funds allocated to @SonicCouncil 14-day staking lock-up period https://t.co/KCAtB2rm7t Sonic Labs (prev. Fantom) (@0xSonicLabs) August 13, 2024 Funding for the new network is also secured as they allocate 47,625,000 $S tokens for running Sonic Spark and Sonic University, providing developers the know-how to build on the platform. To ensure zero wastage of the funds, Sonic will burn the remaining funds if not used within a specified time frame. For example, if only half of the whopping 47,625,000 $S tokens were used, the other half would be burned to protect the integrity of the network while ensuring the funds are not wasted.  Validator rewards will also be migrated from Opera to Sonic to promote the use of the network while protecting $S from too much inflation in the first four years.  FTM Price To Stabilize On This Level Ahead Of Sonic Network Launch  As of press time, the token is struggling to flip the $0.3689 ceiling to support which is crucial for the bulls in the long term.  Related Reading: AVAX Set For ATH? Analysts Predict Explosive Rise To $285 Although the token is seemingly slowing down, the markets general positivity will pick up in the coming days, pushing bears off of the FTM market. This will open the opportunity to retake $0.3689 in the short term while providing the bears a solid support level to take $0.4855 in the long term.  Featured image from Zipmex, chart from TradingView

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Fantom (FTM) Poised For Bullish Divergence, Analyst Predicts 234% Surge

Fantom (FTM) might be preparing for a massive price increase, as pointed out in an analysis made by popular analyst Javon Marks. In a post on X, Marks pointed to the appearance of the Hidden Bullish Divergence in the chart of Fantom. The analyst stated that this could likely result in a large rebound for […]

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Fantom Q2 Performance: Financial Metrics React To Sonic Blockchain Anticipation

The Fantom blockchain saw mixed performance in the second quarter (Q2) of the year, with key financial metrics cooling amid the broader cryptocurrency market downturn and the Fantom Foundation’s announcement to rebrand as Sonic Labs, according to a new report from data intelligence firm Messari. FTM Market Cap, Revenue, And Token Economics  After outperforming in [...]

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Cardano on the Brink of Explosion: Short Squeeze Looming?

Is Cardano the next crypto bomb waiting to explode? Amidst a renewed surge in altcoins, savvy traders have amassed huge fortunes by aggressively betting against undervalued altcoins. While everyone is chasing the next big thing, a key indicator suggests that certain altcoins are poised for explosive growth. As per Santiment, a prominent on-chain analytics platform, […]

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Cardano Among Alts Likely To See Price Boosts, Santiment Says

On-chain analytics firm Santiment has revealed Cardano (ADA) is one of the altcoins that could likely see price jumps shortly. Cardano Among Altcoins That Are Being Heavily Shorted Right Now In a new post on X, Santiment has talked about the altcoins being shorted against on the derivatives market. The indicator of relevance here is [...]

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Fantom (FTM) Primed for Breakout: Analyst Eyes 522% Surge

Fantom (FTM) is poised for a substantial upward surge, attracting keen interest from analysts and investors alike. In the past week alone, FTM has surged nearly 12%, indicating strong potential for continued growth. The broader crypto market’s recovery, fueled by Bitcoin’s resurgence, is also bolstering altcoins like FTM. Renowned crypto analyst Jonathan Carter recently shared […]

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Fantom Price Prediction: Is FTM Crypto a Good Investment?

According to the long-term Fantom price prediction, by the end of 2030, the FTM crypto price is expected to reach a maximum level of $25 (+4,200%).

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Fantom Price Analysis: Whale Activity Sparks Interest in FTM, Analysts Eyes on $1.2289 Target

Fantom (FTM) is gearing up for a potential breakout, positioning itself for significant upward momentum. Recently, FTM hit a low of $0.56 but has since rebounded strongly. Both investors and analysts have taken note of this recovery and the renewed strength of FTM. At the time of writing, Fantom’s price stands at $0.837661, accompanied by […]

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

Crypto analyst Altcoin Sherpa has provided a bullish narrative for Fantom (FTM), suggesting that the crypto token could soon make a significant rally to the upside. The analyst also hinted at how Fantom could rise when this happens.   Fantom Could Rise To As High As $1.2 Based on the chart Altcoin Sherpa shared, Fantom could rise to as high as $1.2 on its next leg up. In the meantime, the analyst noted that the crypto token is consolidating at a key level. He added that he expects Fantom to form a chop range between $0.50 and $0.70 for a bit, so that range could serve as support as it moves to the upside.   Related Reading: Analyst Warns Of Bitcoin Breakdown Below Key Psychological Level, Says $40,000 Is Possible Altcoin Sherpa sounded optimistic about Fantoms trajectory, stating that he believes FTM will still be a decent project going forward, especially with the move to Sonic. In May, the Fantom Foundation announced plans to build Sonic, a layer-1 blockchain with a layer-2 network that connects to Ethereum.  Crypto analyst Bitcoin Ape also shared a sentiment similar to Altcoin Sherpa, predicting that Fantom could rise to $1.2. The analyst stated that FTMs rally could happen once there is a market recovery, with Bitcoin leading the way. Specifically, Bitcoin Ape highlighted a falling wedge pattern formed on Fantoms chart, which showed that a price rally was imminent.  Like Altcoin Sherpa, Bitcoin Ape also alluded to Fantoms pivot to Sonic as a bullish fundamental for the crypto token. The analyst noted that Fantom has been on a massive revamp lately with several updates, including the launch of Sonic Labs. He also mentioned the over $100 million in $S (Sonics native token) airdrop, which could attract developers and users to Fantoms ecosystem.  In the meantime, Bitcoin Ape predicts that Fantom could experience more volatility in the coming days because it is currently oversold. However, once the crypto token leaves its oversold condition, the crypto analyst expects that breakout to happen.  FTM Could Drop To As Low As $0.45 Before Next Leg Up Crypto analyst Ijaz Awan recently predicted that Fantom could drop to as low as 0.45 before its next move up. He noted that Bitcoins weakness is dragging altcoins like FTM down, which is why Fantom struggles to gain momentum. As such, he predicts that the crypto token could experience a period of consolidation between $0.45 and $0.55 before its next leg up.  Related Reading: Is The Bitcoin Bottom In? Crypto Expert Predicts Bullish Price Reversal However, the analyst warned that Fantom cannot afford to lose that range of support. He suggested that a drop below that price level would invalidate his structure and could lead to further price declines for the crypto token.  At the time of writing, Fantom is trading at around $0.54, down over 3% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

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Fantom allocates $120M in FTM tokens for Sonic migration

The fund will be used for native application grants, strategic grants to decentralized applications, and the development of infrastructure tools for developers and users.

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Last Chance: Market Expert Reveals Why Now Is The Perfect Time To Invest In These 5 Altcoins

Renowned market expert Michael Van de Poppe has recently shared his insights on the current state of the cryptocurrency market, highlighting potential breakout opportunities for altcoins.  As the largest cryptocurrency on the market, Bitcoin (BTC), consolidates in a price range between $67,000 and $70,000, Van de Poppe’s latest market update suggests that this may be the ” final time” to invest in altcoins before a potential breakout.  Altcoins Analysis In a series of social media posts, Van de Poppe analyzes specific altcoins, including Sui (SUI), Chainlink (LINK), Floki Inu (FLOKI), Fantom (FTM), and Polkadot (DOT), offering valuable insights for investors. One of the altcoins that has caught Van de Poppe’s attention is SUI, which, according to his analysis, has shown strength in the market with a higher low formation. Van de Poppe suggests that if momentum provides a breakout above $1.17, SUI could continue its uptrend toward $1.60 (currently trading at $1.067). Chainlink (LINK) is another altcoin Van de Poppe considers heavily undervalued. Drawing on historical data, he points out that LINK has delivered a 150% return in previous cycles, making it an attractive investment opportunity at its current trading price of $16.037. Related Reading: Shiba Inu Price Could Skyrocket By 1,100%, Predicts Analyst However, Van de Poppe also advises caution with certain altcoins. For instance, FLOKI, despite its substantial 1200% increase since the beginning of its recent run, carries a higher risk of a heavy correction. He suggests that interested investors wait for a 30-40% correction before considering an investment. Van de Poppe also draws attention to Fantoms native token FTM, which has been forming lower highs and lower lows. With multiple tests of the $0.60 support, a price breakdown seems likely. If a breakdown occurs, he identifies two potential areas of interest between $0.4924 and $0.6113 for swing trading. Crucial Support Levels For Ethereum  Regarding Polkadot, Van de Poppe highlights its potential as a market leader in the Real-World Asset (RWA) sector. He emphasizes that Polkadot is currently undervalued and is in the process of implementing RWA within its ecosystem. Despite the price not reflecting the thriving ecosystem, Van de Poppe expects this will change. Related Reading: Solana Searching For Direction: Will SOL Break Free Or Fall Flat? In addition to these lower-cap altcoins compared to the largest, Van de Poppe provides insight into Ethereum (ETH). In a separate analysis, the market expert suggests that ETH is looking for a higher low and expects confirmation of S-1 filing approval for the long-awaited Ethereum ETFs in the US in the coming weeks. Interestingly, on the 3-day Ethereum/BTC chart, Van de Poppe identifies the 0.05-0.051 BTC range as a key support area for Ethereum. Featured image from DALL-E, chart from TradingView.com

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Fantom (FTM) Bull Run: 8% Price Surge And Robust Double-Digit Growth In Key Metrics

Fantom (FTM), a Layer-1 (L1) protocol, and its native token, FTM, have experienced significant gains and notable achievements in the first quarter (Q1) of 2024.  According to a comprehensive performance analysis conducted by Messari, amid the emerging crypto bull market, Fantom has emerged as one of the major beneficiaries, showing significant growth in key metrics [...]

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