- Fantom recorded a double-digit surge as its latest financial report confirmed the project was stable.
- FTM flashed bullishness, and some longer-term holders maintained their holdings regardless of colossal dips within the past month.
Andre Conje’s Fantom return appears a break through the clouds as the project’s former technical advisor publicized some inside info. His Medium post revealed that Fantom exhibited a healthy financial position.
The former Fantom Foundation chairperson evaluated the platform’s financial state since 2018, claiming that FTM had a positive cash flow. Fantom boasted $100 million in stables and a similar figure in cryptocurrency assets by November 2022.
While revealing other non-cryptocurrency assets, Cronje stated that a 30,000 FTM daily transaction fee earns them around 1,000,000 annually. He added that the average transaction fee is below $0.005. moreover, Fantom earned $5,980,000 from different DeFi stratagems across Ethereum and Fantom ecosystems.
Repeating the Response
FTM price responded positively following the recent update – as it happened when Cronje revealed his comeback. Coinmarketcap shows the decentralized finance coin gained around 13.83% within the past 24hr. That saw it trading near $0.2159 during this publication. Also, the volume followed the price surge – confirming increased FTM demand.
Fantom’s volume stood at $203.97 million during this writing, reflecting a staggering 223.45% surge. That showed the Fantom chain witnessed multiple transactions. Debates about FTM repeating the 2021 performance emerged amidst Cronje’s homecoming. Fantom showcased its best performance last year, welcoming the year at $0.02 to surge toward $3.16. Nevertheless, what could the token’s price action say in the near term?
What Might Happen
The 4hr chart shows FTM increasingly enhancing its support. The alt held footing at $0.213 during this writing – reflecting an impressive surge from $0.210 on November 28. Moreover, the MACD shows it maintained a bullish impetus.
The MACD indicated that buying momentum outshines selling pressure. That means chances for FTM to keep the greens. The DMI (Directional Movement Index) also presented similar patterns, with the Average Directional Index at 29.48, reflecting a massive movement, perhaps as the +DMI remained high at 42.17.
This update had the FTM community hoping for a solid ecosystem. Surprisingly, some investors accumulated 2021 profits and held the alt despite its performance. Lookonchain data showed top 30 Fantom holders owned nearly 62.71% of FTM’s overall supply.
Moreover, the on-chain expert observed a holder who earned profits of $4.7 million in 2021 and still owned around 1.2 million FTM coins. Cronje backed his outlook that FTM was alive, stating that Fantom was the only crypto project with a ‘real’ total value locked. He finalized that the past 40 years weren’t a thing compared to what the project might become in the coming 30 years.