{"id":524299,"date":"2023-03-23T18:00:48","date_gmt":"2023-03-23T18:00:48","guid":{"rendered":"https:\/\/ktsl888.com\/?p=524299"},"modified":"2023-03-23T16:03:16","modified_gmt":"2023-03-23T16:03:16","slug":"fantom-ftm-records-23-gains-on-weekly-chart-whats-next","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/fantom\/fantom-ftm-records-23-gains-on-weekly-chart-whats-next\/","title":{"rendered":"Fantom (FTM) Records 23% Gains On Weekly Chart, What&#8217;s Next?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">While the global crypto market capitalization plunged today, with most coins trading in red, Fantom (FTM) bucked the bears. FTM has scored over 23% price gains on the weekly chart. The coin gained 0.48% on the last day and shows a <\/span><span style=\"font-weight: 400\">4.65% price increase<\/span><span style=\"font-weight: 400\"> in the previous hour.<\/span><\/p>\n<p><span style=\"font-weight: 400\">With today&#8217;s performance, Fantom joined the list of <\/span><a href=\"https:\/\/coinmarketcap.com\/gainers-losers\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">the top-gaining coins<\/span><\/a><span style=\"font-weight: 400\"> over the past week and might be nearing $0.5. However, it is still uncertain if the factors pushing the coin price would bring it above $0.5.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">US Fed\u2019s Latest Interest Rate Hike Pushes Most Crypto Down<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Yesterday the US Federal Reserve bank <\/span><a href=\"https:\/\/www.usatoday.com\/story\/money\/economy\/2023\/03\/22\/fed-meeting-rate-hike-live-updates\/\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">raised interest rates<\/span><\/a><span style=\"font-weight: 400\"> by 0.25% to tame inflation despite the ongoing banking turmoil. The bearish sentiment from the Fed&#8217;s interest rate hike has spread across the crypto market and the <\/span><span style=\"font-weight: 400\">total market capitalization<\/span><span style=\"font-weight: 400\"> has declined by 2.44%.<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/litecoin\/litecoin-surges-12-24-flips-shiba-inu-market-cap\/\" target=\"_blank\" rel=\"noopener \">Litecoin Surges 13% In Last 24 Hours, Flips Shiba Inu In Market Cap<\/a><\/p>\n<p><span style=\"font-weight: 400\">The crypto industry, alongside economists and analysts, dreaded this outcome. Bloomberg\u2019s analyst McGlone and others <\/span><a href=\"https:\/\/bitcoinist.com\/this-analyst-reveals-the-catalyst-of-crypto-prices-downturn\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">predicted<\/span><\/a><span style=\"font-weight: 400\"> crypto prices might plunge deeper should the Feds raise the interest rate bps.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">After the bank crash, the Fed interfered with a funding program to assist troubled banks giving hope to investors. People thought the Feds would soften its stance on the borrowing rates hike. But the recent rate hikes suggest otherwise.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">While the bearish sentiment from the Fed&#8217;s action pushed the crypto market down, FTM remained resilient, sustaining its past week&#8217;s gains. <\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, FTM has recorded a 23% 7-day gain. It didn\u2019t end there since the token&#8217;s price rally reflected a massive surge in trading volume over the past 24 hours. According to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/fantom\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinMarketCap data<\/span><\/a><span style=\"font-weight: 400\">, FTM observed a 47.65% increase in its 24-hour trading volume against yesterday\u2019s value.<\/span><\/p>\n<figure style=\"width: 979px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/t9UGJD6u\/\" alt=\"FTMUSD price chart\" width=\"979\" height=\"538\"><figcaption class=\"wp-caption-text\">FTM&#8217;s price currently stands at $0.4730 in the daily chart. | Source: FTMUSD price chart from <a href=\"https:\/\/www.tradingview.com\/chart\/yvxKVcNq\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2><span style=\"font-weight: 400\">Fantome (FTM) Price Rallies Amid Ecosystem Developments<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Fantom is a <a href=\"https:\/\/www.researchgate.net\/publication\/349180278_Directed_Acyclic_Graph_Based_Blockchain_Systems\" target=\"_blank\" rel=\"noopener nofollow\">directed acyclic graph<\/a> Smart Contract platform that provides decentralized finance services to developers with its native consensus algorithm. With its native token, FTM, Fantom aims to solve scaling problems associated with Smart Contract platforms while offering lightning-speed transactions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Fantom Foundation has been on this vision, working to improve the network with programs to attract more users. These activities would reflect in FTM price and trading volume as it currently is.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The platform has been running programs to accelerate Web3 gaming, which has gained much traction recently. To encourage developers to build on Fantom, it distributed FTM tokens to every project participating in the <\/span><a href=\"https:\/\/twitter.com\/FantomFDN\/status\/91081984?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Fantom Gitcoin Grants round<\/span><\/a><span style=\"font-weight: 400\">. 8Play Games is even <\/span><a href=\"https:\/\/twitter.com\/8play_games\/status\/33227520?cxt=HHwWgICwwcqXsLstAAAA\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">distributing FTM tokens<\/span><\/a><span style=\"font-weight: 400\"> to celebrate their launch after partnering with Fantom.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Fantom ecosystem has experienced several <\/span><a href=\"https:\/\/fantom.foundation\/blog\/fantom-general-update-march-13-2023\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">developments<\/span><\/a><span style=\"font-weight: 400\">, including new integrations with Algebra Protocol, Atomic Wallet, Osmosis, KuCoin Wallet, Carrier Bridge, and Osmosis.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Fantom Ecosystem Vault reached 200,000 FTM on March 11, marking a new milestone for FTM. All these could be among the factors supporting FTM&#8217;s resilience amid the bearish market.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/trx\/tron-trx-and-huobi-token-ht-plummets\/\" target=\"_blank\" rel=\"noopener \">Tron (TRX), Huobi Token (HT) Plummet Nearly 10% In A Day, Here\u2019s Why<\/a><\/div>\n<p><a href=\"https:\/\/coinmarketcap.com\/currencies\/fantom\/historical-data\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Data<\/span><\/a><span style=\"font-weight: 400\"> shows that Fantom previously surpassed $0.5, climbing above $0.6 to nearly $0.7 earlier in February before gradually pulling back $0.3356 on March 10. However, its price has been steadily improving aside from a few retrenches and might soon climb back to $0.6 if it sustains the current rally momentum.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Pixabay and chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>While the global crypto market capitalization plunged today, with most coins trading in red, Fantom (FTM) bucked the bears. FTM has scored over 23% price gains on the weekly chart. The coin gained 0.48% on the last day and shows a 4.65% price increase in the previous hour. With today&#8217;s performance, Fantom joined the list of the top-gaining coins over the past week and might be nearing $0.5. However, it is still uncertain if the factors pushing the coin price would bring it above $0.5.\u00a0 US Fed\u2019s Latest Interest Rate Hike Pushes Most Crypto Down Yesterday the US Federal Reserve bank raised interest rates by 0.25% to tame inflation despite the ongoing banking turmoil. The bearish sentiment from the Fed&#8217;s interest rate hike has spread across the crypto market and the total market capitalization has declined by 2.44%. Related Reading: Litecoin Surges 13% In Last 24 Hours, Flips Shiba Inu In Market Cap The crypto industry, alongside economists and analysts, dreaded this outcome. Bloomberg\u2019s analyst McGlone and others predicted crypto prices might plunge deeper should the Feds raise the interest rate bps.\u00a0 After the bank crash, the Fed interfered with a funding program to assist troubled banks giving hope to investors. People thought the Feds would soften its stance on the borrowing rates hike. But the recent rate hikes suggest otherwise.\u00a0 While the bearish sentiment from the Fed&#8217;s action pushed the crypto market down, FTM remained resilient, sustaining its past week&#8217;s gains. At the time of writing, FTM has recorded a 23% 7-day gain. It didn\u2019t end there since the token&#8217;s price rally reflected a massive surge in trading volume over the past 24 hours. According to CoinMarketCap data, FTM observed a 47.65% increase in its 24-hour trading volume against yesterday\u2019s value. Fantome (FTM) Price Rallies Amid Ecosystem Developments Fantom is a directed acyclic graph Smart Contract platform that provides decentralized finance services to developers with its native consensus algorithm. With its native token, FTM, Fantom aims to solve scaling problems associated with Smart Contract platforms while offering lightning-speed transactions.\u00a0 The Fantom Foundation has been on this vision, working to improve the network with programs to attract more users. These activities would reflect in FTM price and trading volume as it currently is.\u00a0 The platform has been running programs to accelerate Web3 gaming, which has gained much traction recently. To encourage developers to build on Fantom, it distributed FTM tokens to every project participating in the Fantom Gitcoin Grants round. 8Play Games is even distributing FTM tokens to celebrate their launch after partnering with Fantom.\u00a0 The Fantom ecosystem has experienced several developments, including new integrations with Algebra Protocol, Atomic Wallet, Osmosis, KuCoin Wallet, Carrier Bridge, and Osmosis.\u00a0 The Fantom Ecosystem Vault reached 200,000 FTM on March 11, marking a new milestone for FTM. All these could be among the factors supporting FTM&#8217;s resilience amid the bearish market. Related Reading: Tron (TRX), Huobi Token (HT) Plummet Nearly 10% In A Day, Here\u2019s Why Data shows that Fantom previously surpassed $0.5, climbing above $0.6 to nearly $0.7 earlier in February before gradually pulling back $0.3356 on March 10. However, its price has been steadily improving aside from a few retrenches and might soon climb back to $0.6 if it sustains the current rally momentum. Featured image from Pixabay and chart from TradingView.com<\/p>\n","protected":false},"author":577,"featured_media":524302,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[87842],"tags":[86579,88024,86580,87826],"class_list":["post-524299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fantom","tag-fantom-ftm","tag-ftm-analysis","tag-ftm-price","tag-ftmusd"],"acf":[],"yoast_head":"\n<title>Fantom (FTM) Tallies 23% Gains On Weekly Chart, Nears $0.5<\/title>\n<meta name=\"description\" content=\"While the global crypto market capitalization plunged today, with most coins trading in red, Fantom (FTM) bucked the bears.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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