- Fantom addresses held for over a year currently stands at 73%, suggesting high holder confidence.
- Exchange inflow increased by 5% in the last 24 hours, raising expectations of a price movement.
As a seasoned researcher with years of experience in the ever-evolving cryptocurrency market, I find myself consistently drawn to projects like Fantom [FTM]. The current trends suggest that we may be on the brink of an exciting price rally for this coin.
Fantom [FTM] has gained the attention of the cryptocurrency market.
During the current period, on-chain data suggests a strong possibility of a price rise. This is because long-term holders are largely in control of the network, and there’s an increase in the amount of coins moving into exchanges.
LTHs signal strong confidence in Fantom
A key factor contributing to the possible rise in Fantom’s price lies in the high proportion, approximately 73%, of its total addresses holding the token at this moment.
This indicates strong market sentiment and confidence among long-term market participants.
As a researcher, I’ve observed an interesting trend: When more token holders choose to hold onto their assets rather than sell, this decreases selling pressure significantly. This stronghold on tokens creates a robust base that can potentially drive up the token’s price.
Maintaining Fantom as part of their portfolio, long-term investors usually resist selling during market turbulence. This reluctance to sell can help maintain the coin’s price stability and potentially spark more purchasing activity among others.
The fact that so many investors are holding on adds more fuel to bullish sentiment.
What stablecoin liquidity has in store
At the moment, about one third (30%) of the total market value of the Fantom ecosystem is tied up in stablecoins, amounting to approximately $112 million. This locked-in stablecoin liquidity plays a crucial role in supplying funds for decentralized finance (DeFi) projects within the system.
For Fantom, incoming liquidity is setting the stage for potential market volatility and higher projected prices.
A large number of coins being held within the network indicates investor faith in Famtom’s future expansion, further bolstering its optimistic momentum.
Is Fantom ready for a price rally?
Over the past day, the inflow to Fantom has risen by more than 5%, boosting optimistic feelings around it.
This suggests that market players prepare to capitalize on brief, immediate market chances, potentially causing an uptick in purchasing activity.
Read Fantom’s [FTM] Price Prediction 2024–2025
Following its recent surge, there’s an opportunity for Fantom to reach new price heights. Lately, the coin successfully surpassed the resistance at $0.62, entering a period of stabilization.
Given the recent positive sentiment, the price might rise as high as $0.86 very soon.
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2024-09-28 07:03