Fantom's impressive November rally has brought attention to critical price levels. With a surge in MVRV ratio and a breakout from technical patterns, key resistance levels could determine the next phase for FTM.

Story Highlights The FTM price retests the $1 mark and has soared 47.36% this month. The technical indicators record a potential bullish reversal. Increased buying pressure could push the price beyond the $1 mark. The Fantom token has achieved an 8-month high with its recent price surge.

An MVRV ratio of 1.59 shows that Fantom is fairly priced, but a break above 2 could make it overvalued.

The firm's founder has stressed that the layoffs are not financially motivated.

Sky Mavis is pushing for growth, and as part of this restructuring, it has downsized its workforce.

Axie Infinity creator Sky Mavis lays off 50 employees as part of broader efforts to adapt post-hack and market shifts.

Sky Mavis co-founder and CEO Trung Nguyen said resources freed up from the layoffs will be used in a new Axie Infinity game and other projects.

Despite the sudden increase in volatility in the crypto market, as Bitcoin struggles to eclipse the $100,000 barrier, the altcoins are sustaining a bullish trend. The FTM price has increased nearly 35% over the past 7 days and has reached a market cap of $2.7 billion.

Sky Mavis cut 21% of its workforce to focus on core products, with the CEO claiming it wasn't due to financial issues. The post Axie Infinity Creator Sky Mavis Lays Off 21% as Part of Restructuring appeared first on Cryptonews.

Sky Mavis has laid off 21% of its workforce The web3 firm said the decision was not related to its finances.

The layoff reflects a strategic move to focus on its projects, including a new Axie Infinity game, according to its CEO.

This week's 'top cryptocurrencies to watch' are all from the gaming market segment: Sandbox, MANA and Axie Infinity.

Fantom surges 20%, breaking out of consolidation and eyeing major resistance at $1.14.

Axie Infinity (AXS) and Smooth Love Potion (SLP) tokens have crawled back in the past few days as the ecosystem started to bounce back. The SLP coin was trading at $0.0035 on Friday, up by 65% from its lowest point this year. Similarly, the Axie Infinity coin was trading at $5.

Fantom (FTM) has been moving through a volatile price cycle recently, despite the broader cryptocurrency market's continued uptrend. Over the past two days, FTM experienced a significant 14% drop, drawing attention from traders and analysts alike.

FTM is approaching a key support level at $0.609 after a 14% decline.

Fantom (FTM) is showing promising signs of a breakout, driven by strong technical indicators and favorable on-chain metrics. However, while these signals suggest potential upside, there are still cautionary signs in the data that may affect the sustainability of the rally.

Bitcoin (BTC) hit $90,000 for a brief, fleeting moment before dropping back to mid-$ $89,000. The crypto markets have declined over the past 24 hours as the ongoing bull run took a breather, with most major cryptocurrencies in the red over the past 24 hours.

Fantom (FTM) may be nearing a breakout as technical and on-chain signals align with each other.

Fantom (FTM) has been demonstrating strong signs of growth, with key metrics suggesting that the altcoin could be poised for a significant price movement. Recently, Fantom's long-to-short ratio crossed above 1.07, signaling a notable bullish sentiment among traders.

The altcoins long/short ratio has crossed above 1.07, indicating a clear bullish bias among traders.

Bitcoin (BTC) has rocketed by almost 10% in the past 24 hours and has just set a new all-time high of $74,730, as Republican candidate Donald Trump took an early lead in the presidential elections.

The crypto market swung low, which might be the last big discount before a parabolic run. Reflecting bearish sentiment, the underwhelming performance of Arbitrum (ARB) continues. However, DTX Exchange (DTX), a new exchange-based token, has defied the broader market trend by exploding in presale. It has raised over $6.

Fantom's price is currently on a positive trajectory, experiencing a notable rally that has seen it rise by 6.31% in the last 24 hours, trading at $0.6786. With a market cap of $1.90 billion and a 24-hour trading volume surge of 68.26% to $142.91 million, the altcoin is capturing attention.

Bitcoin (BTC) touched $71,000 earlier today as it inches toward record highs. BTC hit $70,000 for the first time since late July and peaked at $71,460 before declining back to $71,000.

Fantom's price rally gained momentum, holding key levels amid bullish technical signals.

Despite a recent pullback, AXS is set for a strong recovery.

Fantom (FTM) is making headlines in the cryptocurrency market as whale activity reaches its highest level in a year. This spike in large transactions, coupled with bullish technical indicators, has led to discussions about whether FTM is positioned for a significant price rally, potentially rising by 20%.

Are NFTs making a comeback? Following the surge in BAYC's ApeCoin after the ApeChain launch, investment is now shifting towards Axie Infinity, The Sandbox, and emerging layer-2 blockchains.

Fantom (FTM) registered a remarkable performance over the past 24 hours, attempting to break above a crucial horizontal level. Some market watchers forecasted a 345% surge before the year's end but set the key levels to reclaim before FTM's new all-time high (ATH).

Fantom's Funding Rates have increased to a weekly high, suggesting that more traders are taking long positions.

Although Fantom (FTM) ‘s price has increased by 20% in the last 30 days, the altcoin's value could move higher. This prediction is based on the large-scale accumulation it has faced in recent times.

Two popular tokens, Axie Infinity (AXS) and Sandbox (SAND), have seen significant price increases recently. This uptick comes as the entire crypto market experiences a rally, with Bitcoin testing the crucial price level of $69,000.

A widely followed crypto strategist believes one under-the-radar Ethereum (ETH) challenger will hit his massive price target this cycle. Pseudonymous trader Rager tells his 199,100 followers on the social media platform X that he's bullish on layer-1 protocol Fantom (FTM). Rager shares a chart suggesting that FTM will hit his price target of $3.

New interest in crypto gaming has play-to-earn game Axie Infinity (AXS) up as bulls celebrate upside momentum. It's an outlook that's also catalysed interest in Dogizen (DOGIZ). This tap-to-earn game has captured investor attention with the first-ever Telegram ICO.

Fantom (FTM) has been in the spotlight recently, celebrating a notable 14% gain over the past week. After climbing from approximately $0.66 on October 13 to around $0.78 by October 15, the cryptocurrency has captured the attention of traders and investors alike.

The crypto market has recorded a jump of ~2% in the past day, resulting in the Bitcoin price retesting its $69,000. Following this, the Metaverse and the gaming industry have regained momentum with many projects retesting their important resistance levels.

The Fantom (FTM) price has recently shown promising growth, but questions remain about how long this uptrend can last. Despite the initial surge, key indicators are starting to hint at a potential weakening of momentum.

A closely followed crypto analyst and trader believe that one red-hot Solana (SOL)-based memecoin may have even more upside potential after putting up huge gains in the last week.

FTM is trading at approximately $0.76 after a robust 9% increase in just a single day. This upward momentum can be attributed to a combination of factors, including the liquidation of short sellers and a notable rise in transactions by whale investors.

Polkadot (DOT) has seen a remarkable resurgence in the cryptocurrency market over the past week, prompting many analysts and investors to speculate about its future trajectory. After reaching a low of $3.90, DOT has rallied impressively, experiencing a surge of 12.82% recently.

Sonic Labs, the team behind the Sonic blockchain formerly known as Fantom, has released an ambitious litepaper that details technological advances and a new token distribution mechanism.

Fantom (FTM) has recorded impressive price actions over the past few sessions, gaining 8% and 55% on its weekly and monthly charts, respectively. While enhanced broad market sentiments amidst the Uptober narrative fueled the uptrends, whale activity and short seller liquidations extended FTM's rally.

FTM transactions exceeding $100,000 have jumped 1,000% from 4.38M to 50.78M.

Polkadot has experienced a significant comeback over the past week, leaving analysts eyeing a 357.67% rally to $20.

As the altcoin market makes a comeback, with Bitcoin momentarily crossing above the $66,000 level, Polkadot and Fantom are gaining momentum. FTM and DOT are ranking among the top performers with a breakout and a trend reversal rally.

Polkadot's native token, (DOT), may be positioning itself for a major breakout, following a similar price trend seen in Fantom. However, Popular crypto analyst Ali Martinez suggests that if this trend holds, Polkadot could first rally to $9.7. After a brief pullback to $6.7, Martinez suggests DOT could even break out to an impressive $20.

AXS Unlock date - Oct 14th 2024 Number of tokens unlocked- 12.58 million AXS (4.66% of its circulating supply) Current Circulating Supply - 152.23 million million AXS Token distribution Staking rewards - 2.45M tokens (3.13%) Teams - 5.74M tokens (10.1%) P2E - 2.70M tokens (5%) Ecosystem - 1.69M tokens (7.81%) Source - cryptorank.