• Though positive sentiment around the token improved, its price action was against investors’ interest.
• Fantom’s market indicators also remained in the bears’ favor.

Fantom [FTM] recently made a noteworthy achievement. It was among the six chains that repeatedly appear in the top 10 by DEX volume since March 2021, when cryptocurrencies first witnessed new ATHs. Although investors’ willingness to trade FTM remained high, the token’s price didn’t correspond. This was evident from its weekly price action.

Realistic or not, here’s FTM market cap in BTC‘s terms   

Analyzing Fantom’s achievements

Nick.ftm, a popular Twitter user, recently revealed in his tweet that Since its rise, Fantom has operated smoothly as a top Layer 1 with massive DEX volume (good metric of real users/usage), and is among good companies. The tweet also mentioned that the Fantom Foundation’s treasury is diversified across different crypto and non-crypto assets.

The biggest impact was on the value of its multi tokens that were held long term. As per the tweet, the foundation will continue to develop and grow the ecosystem for the long term.

From a list of 112 blockchains, only 6 chains show up repeatedly (80%+) in the Top 10 by DEX volume since March 2021 when crypto first saw new ATHs.#Fantom is one of them.

The others are Ethereum, Polygon, BSC, Avalanche and Arbitrum.

This next sentence applies to the above… pic.twitter.com/91LCYMv8Xk

— Nick.ftm (@Nick_SR5)

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Author: Dipayan Mitra

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