Fantom (FTM) is among the leading decentralized finance (DeFi) chains globally, but it fails to present a similar stature as an investment amid broader market cues. For that reason, some holders would prefer the logical narrative instead of hoping for what could happen.
FTM Requires a Miracle
Fantom trended against the broad market in December 2021 when FTM rallied to mark new ATHs as we welcomed the new year. However, the alt saw a significant from $3.3 to today’s $1.2, pushing over 72% of Fantom holders into losses. However, there are nearly 6.72K investors that will witness intense suffering.
These individuals purchased holdings when Fantom explored its highs in hopes of extended rallies. However, such intentions failed, and these investors can only hope for recoveries soon to sell their holdings at break-even or potential profits.
However, such cases would demand a 175% upward move for Fantom to surpass the all-time high at $3.3. There is an equally high and low probability of the action to appear.
The possibilities could be high since FTM has recorded intensified rallies. For instance, the alternative token surged 169%, in a month, to the $3.3 record peak. However, the broad market does not support these bullish cues. That also explains why FTM gained 50% only (which faced invalidation in the next week) between March and April.
The alt presents minimal bullish signals, but FTM will require more than that to regain lost value. Metaverse growth may be crucial to help recover, and Fantom taps into that with Rove, creating 1000 Home NFTs for sale in FTM’s virtual world.
These non-fungible tokens may witness massive demand as more investors join the ecosystem each day. The cumulative unique addressed surpassed 2.8 million (as of today), adding nearly 10K investors per day.
Nevertheless, the current market keeps traders inactive as the broad market revival may catalyze activity again. That would reinvigorate Fantom’s plunging volume, which has struggled to surpass a $20 million average this month. Remember, the average stayed between $50M and more than $100M until March.
What are your thoughts about Fantom and FTM holders as far as recovery is concerned? Feel free to comment below.
Editorial credit: Ira Lichi / shutterstock.com
The information provided on this website should not be interpreted as financial or investment guidance and may not embody the perspectives of Forex Tools Trader or its contributors. Forex Tools Trader does not hold responsibility for any financial setbacks experienced due to the use of information provided on this website by its writers or patrons. It's essential to thoroughly investigate and make informed decisions before entering any financial commitments, particularly concerning third-party reviews, presales, and similar ventures. The content you are viewing may be sponsored content, read our full disclaimer to learn more.