Fantom Crashes to New Lows as Market Panic Sets In

Fantom's (FTM) value has plummeted by 20% in the last day, now trading at $0.29, a low not seen since October 2023.

This decline has led to significant losses for many holders, with a noticeable increase in unprofitable transactions and long position liquidations in the derivatives market.

Analysis shows a high ratio of transactions at a loss compared to those at a profit, with 72% of wallet addresses currently underwater. Only 23% of holders are making a profit at this price level. The derivatives market has seen $2.16 million in long positions liquidated in the past 24 hours, the highest in two months.

Key indicators suggest further declines, with FTM’s Elder-Ray Index at -0.19 showing strong bearish sentiment and its price falling below the 20-day EMA, signaling increased selling pressure. If this trend continues, FTM could drop to $0.25.

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Ethereum’s Massive Price Crash Triggers Investor Panic

The broader market downturn has also affected other cryptocurrencies, contributing to the bearish outlook. Investors are now closely watching market trends and indicators to gauge the next movements. The increased volatility in the market is leading to heightened caution among traders, who are seeking stability in an unpredictable environment.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.