- Fantom recorded its highest volume of large transactions since October, leading to a notable price drop in the past 24 hours.
- The average transaction sizes spiked sharply, further intensifying the pressure on exchanges.
In the past day, the value of Fantom’s token (FTM) has dropped by 3.05%, reaching a new price point of $0.78, as reported by CoinMarketCap.
If the current trend persists, the value of this asset could wipe out its recent weekly advancements and intensify its ongoing monthly decline, which has surpassed 40% already.
As a researcher, I’m observing a potential trend in this market. It appears that the recent large-scale transactions by prominent players, or ‘whales’, may be causing a downward shift in prices. If this selling frenzy continues, we might expect further price drops in the near future.
Whales sell in high volumes
Over the last 24 hours, I’ve noticed an uptick in trading activities by the big players, often known as ‘whales’, within the FTM market. According to IntoTheBlock’s data, this trend is quite substantial.
Over these times, there were 184 whale-related transactions logged, totaling 93,310,000 FTM and equaling approximately $74.8 million. This significant increase in activity typically suggests that significant market players are either purchasing or offloading the asset.
In such instances where a surge in volume occurs alongside a drop in price, as seen with FTM, it often indicates that most significant trades are sell-offs.
To back up this finding, AMBCrypto delved into further market indicators and determined that a predominantly bearish outlook is prevalent in the market.
Large FTM holders grow wary
According to data from IntoTheBlock, there’s an increasing divide between optimistic and pessimistic attitudes towards FTM (Fantom) among significant token holders.
In the last week, the Bull versus Bear ratio for FTM revealed that there were 139 more bullish participants compared to 148 bearish ones. This suggests a trend leaning towards bearish control.
A significant number of these addresses collectively own at least 1% of the total FTM token distribution, and current behavior indicates that the urge to sell may be growing stronger.
In the last 24 hours, I’ve noticed a significant increase in the typical transaction value, peaking at about $38,500 at the moment of writing this. Over the past week, this average has been hovering around $32,000.
This points to substantial amounts likely being sold in each transaction.
With the increasing pessimism among large-scale investors (whales) and persistent large trades, retail traders have been exerting extra downward pressure on Fantom’s (FTM) price.
Retail sentiment turns bearish
It appears that retail traders in the financial market are demonstrating a growing pessimism, as they’re actively participating in selling actions, not only for immediate transactions but also for future contracts.
Over time, traders who specialize in quick transactions (spot traders) have been moving their FTM assets onto exchanges. On the 7th of January alone, exchanges received approximately $497,370 worth of this asset.
This trend suggests the likelihood of more inflows throughout the day, as traders prepare to sell.
When funds shift from personal wallets to cryptocurrency exchanges and the exchange’s inflow exceeds outflow (or the net flow becomes positive), this usually signifies growing selling activity and a rise in the amount of FTM tokens readily available for trading on these platforms.
Derivative traders are reflecting a growing pessimism, as evidenced by a consistent drop in Open Interest. In just the last day, it has decreased by 7.34%, reaching a total of $92.62 million.
Read Fantom’s [FTM] Price Prediction 2025–2026
A decrease like this frequently indicates that traders are wrapping up their contracts, suggesting they’ve lost faith due to the increasing pessimism (bearish sentiment) in the market.
Based on many significant indicators, it seems quite likely that FTM could face additional drops in the short-term future, given its generally negative trend.
Read More
- HBAR PREDICTION. HBAR cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- JTO PREDICTION. JTO cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- TRB PREDICTION. TRB cryptocurrency
- FLOKI PREDICTION. FLOKI cryptocurrency
- DGB PREDICTION. DGB cryptocurrency
- TNSR PREDICTION. TNSR cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
2025-01-07 18:32