• Fantom’s native token, $FTM, has seen a more than 10% price gain in the past 24 hours despite increased selling activity by whales.
• Whale and shark addresses have dumped heavily during this rise, and the majority of these coins have been scooped up by micro addresses.
• Despite bear market conditions, early investors who purchased FTM around March 2020 are still on a 27,204.35% profit.
Fantom’s Native Token Posts Gains
Fantom’s native $FTM token has posted a more than 10% price gain in the past 24 hours despite increased selling activity on centralized exchanges by whales. According to crypto analyst Ali Martinex, more than 8 million FTM tokens were dumped on Valentine’s Day alone, increasing the token supply by 7.04 million $FTM on these platforms. Per data available on Coingecko, the price of $FTM has witnessed a 10.6% increase in the past 24 hours, exchanging hands for $0.519213, with an impressive trading volume of $728,951,739.
Fantom’s shark and whale addresses have dumped heavily during this 2023 rise. Addresses holding 10K to 100M $FTM dropped approximately $259.7 million worth of coins in the past 4 weeks. These coins have largely been scooped up by micro addresses holding 0-1 FTM tokens each.
Bear Market Conditions
Despite bear market conditions taking their toll on the price of FTM (the token is down 85% since its all-time high in October 2021), data shows that early investors who purchased around March 2020 are still seeing a 27,204 percent profit from their investments today!
Longer Time Frame Price Performance
Although it has posted decent gains over the last day or so, when looking at longer time frames like seven days or 30 days; Fantom’s native token is down 11 percent and 59 percent respectively against USDT (Tether).
In conclusion; despite some whale dumping activity taking place over recent weeks; Fantom’s native token is still seeing some success as it posts gains against USDT and remains profitable for long term holders!