Fantom Is Under Downward Pressure Again: Two Key Areas Are Declining
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- Fantom has recently experienced a high level of large transactions, culminating in a sharp price drop within the last 24 hours.
- The average size of these transactions has risen significantly, intensifying the pressure on exchanges.
In the last 24 hours, Fantom [FTM] ‘s price decreased by 3.05%, now standing at $0.78 according to CoinMarketCap.
If this trend persists, the asset risks losing its recent weekly gains while compounding its existing monthly losses that have already surpassed 40%.
This decline in price is likely due to extensive selling by whales; if this trend of selling continues, further declines can be anticipated.
Whales are offloading their holdings in large volumes
Insights from IntoTheBlock indicate a notable uptick in activity among big traders—commonly termed as whales—related to FTM over the past day.
This period saw 184 whale transactions amounting to a total of 93.31 million FTM valued at $74.8 million being executed. Such heightened activity frequently signifies that significant market players are engaged either in buying or offloading the asset.
Source: IntoTheBlock.
A spike in volume accompanying a fall in prices—as observed with FTM—often indicates predominant selling actions among larger transactions. AskFX conducted further analysis on additional market metrics and found prevailing negative sentiment within the market.
Anxiety is rising among major FTM holders
Data provided by IntoTheBlock reveals an increasing disparity between bullish and bearish sentiments amongst prominent holders of FTM coins.| /p>
The bull vs bear metric shows there are now only
139 bullish addresses as opposed to
148 just one week ago, highlighting an emerging dominance of pessimistic sentiment.| /p>
The bulls mathmatically lost interest for trade
Even after many days we see sustained bulk profit loss.
The summer seasonal periods yield bounty predictions for overall trading losses.
Partially held assets / invested equities show signs nearing execution
Both factors outlined here represent sizeable cash budgets obtaining trades.
Looking back we neglect time frames | We use time travel perspective descent entry points assessing mindset way0f6=acquired thoughts where spirits change directions presenting measured views
Directly behind reservations conflict balloon investments easily accessible data integrity given snapshot history tracking movements drums up something different than what appears transparently over fantasy exchanging weights dataspin experiences.
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