Sonic

Fantom

Daily

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/fantom-ftm-suddenly-up-13-whats-going-on-1" rel="noopener noreferrer nofollow">Fantom (FTM)</a>, the native token of the Fantom blockchain, has soared by over 31% in the past 24 hours.
The price increase follows a period of decline and consolidation, during which FTM fell by approximately 80% from highs of $0.566 on Dec. 26, 2023. <img alt="TradingView" data-entity-type="file" data-entity-uuid="18c9b96d-6712-4c38-a358-045a518a3df4" src="https://u.today/sites/default/files/inline-images/04032024%200000.png"><a href="https://www.tradingview.com/x/8tNyd102/" rel="noopener noreferrer nofollow">FTM/USD Daily Chart, Courtesy: TradingView</a>
FTM began a modest recovery from a low of $0.30 on Jan. 23, albeit still in consolidation. On March 3, the price burst out of the range, surpassing the previous barrier of $0.56. Following three days of advances, Fantom soared to an intraday high of $0.748 on Monday before receding.
At the time of writing, FTM was up 28.29% in the last 24 hours to $0.658. The token has likewise gained 59% in the last seven days. &nbsp;
<h2 id="what-are-reasons-for-ftm-s-comeback">What are reasons for FTM's comeback?</h2>
As reported, the cryptocurrency market saw over $48.54 billion in capital inflows, the biggest since October 2021. &nbsp;Bitcoin inched closer to its all-time high, reaching $65,614 during today's trading session. Other tokens, known as altcoins, also climbed in response to Bitcoin's rally.
Fantom likewise experienced inflows as whales made significant purchases. According to <a href="https://twitter.com/spotonchain/status/1764511023191515190" rel="noopener noreferrer nofollow">SpotOnChain</a>, a whale purchased 4.71 million FTM at approximately $0.57 per coin, totaling $2.69 million, via Gemini and Airswap over the last two days, and even made FTM purchases in recent hours.
<blockquote>
 The <a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FTM</a> made a great comeback (+31%) today!Whale 0xdf8 bought a total of 4.71M <a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FTM</a> at ~$0.57 ($2.69M) via <a href="https://twitter.com/hashtag/Gemini?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Gemini</a> and <a href="https://twitter.com/hashtag/Airswap?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Airswap</a> in the last 2 days, now making $600K (+22%).Notably, he/she last bought <a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FTM</a> only an hour ago. Is the whale still bullish on an even bigger pump?… <a href="https://t.co/7GW2SR1ZCF" rel="noopener noreferrer nofollow">pic.twitter.com/7GW2SR1ZCF</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1764511023191515190?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 4, 2024</a>
</blockquote>
The Fantom network has seen new improvements and <a href="https://messari.io/report/state-of-fantom-q4-2023" rel="noopener noreferrer nofollow">developments</a>. Fantom's major endeavor in Q4'23 was the Fantom Sonic update, which attempts to improve network scalability. Ultimately, Fantom Sonic seeks to make Fantom one of the best-performing monolithic blockchains by increasing transactions per second (TPS), lowering storage costs, and maintaining near-second time to finality (TTF).
For the rest of 2024, Fantom Sonic is projected to play an important role in Fantom's continued<a href="https://u.today/fantom-ftm-leaps-20-weekly-as-blockchain-embraces-web3-innovation" rel="noopener noreferrer nofollow"> expansion</a>. In addition to the aforementioned Fantom Sonic update, initiatives like the Ecosystem Vault and Gas Monetization Program helped developers and users stay engaged in the network.

Fantom (FTM) Skyrockets 31% in Astonishing Comeback, Here's Why

목차

U_Today

2024년 3월 4일에 게재된 다른 기사

Uniswap (UNI) or Kelexo (KLXO) for 2024? Crypto Prospects Explored as Ripple (XRP) Doubt Looms

Bitcoin Price Soars as Machine Learning Predicts Continued Uptrend

Tether Unleashes Enhanced Security Tool for Stablecoin Recovery

DEVAI: The Hidden AI Gem of 2024 Set to Transform Investors into Millionaires

Bernstein Announces Cryptocurrency Theme to Rebound Next as Bitcoin Hits All-Time High

New Cryptocurrency Releases, Listings & Presales Today – Dechat, Nirvana, Mystic Land Coin

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!