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Fantom (FTM) and SEI display strong technical signals suggesting that significant price appreciation may be expected. Analysts have pointed to Fantom's Hidden Bullish Divergence, which may pave the way for a 234% bounce back. A target of $3 was set for the breakout.
Fantom (FTM) caught the attention of the broader market this week as its price rallied by 13%, making the altcoin one of the top gainers.
A widely followed crypto strategist and trader believes that one low-cap layer-1 altcoin project may be gearing up for a massive rally. Pseudonymous analyst The Crypto Dog tells his 810,000 followers on the social media platform X that Saga (SAGA) may be breaking out of a descending trendline on the three-day chart. “Longed SAGA.
Fantom, a scalable blockchain platform for DeFi, surged by 8% on the morning of Aug. 16, making it the top performer in the crypto market. At the time of writing, Fantom (FTM) was still up 8%, exchanging hands at $0.
The markets appear to have been more volatile since the start of the month when a massive crash occurred. Although the bulls have significant strength, they fail to hold the tokens above the gains.
In five short months, FTM, the native coin of the Fantom Network, has been in free fall. In summary, the token is down a massive 70% from March highs but is presently stable, following a stream of supportive fundamentals.
With a wipe of $174M in long positions in the crypto market, the bulls are on the back foot, increasing stress levels. Amid this, the altcoin bazaar takes a varied stance, with DeFi tokens resurfacing while memes and other altcoins take a hit.
Fantom, a popular blockchain platform known for its speed and low transaction costs, has experienced a mixed performance this year. While other major altcoins like Solana and Toncoin have surged by over 100%, FTM has seen a more modest increase of around 40% year-to-date.
Fantom's declining Chaikin Money Flow (CMF), despite FTM's price increase, shows a bearish divergence.
As major crypto prices advance from earlier session lows following stronger-than-anticipated US Retail Sales data that has reduced investor fears about an imminent US recession, traders are eyeing up various top crypto performers today in the altcoin markets that might deliver fast gains.
Fantom's migration to Sonic is now underway, putting the platform under the spotlight which caused FTM, the native token of Fantom, to jump. According to CoinGecko, FTM gained more than 17% since last week, representing the hype their network migration caused within the community.
Fantom (FTM) has surged 17% over the past seven days, reaching $0.37 at press time—the highest price it has traded at during this period.
The crypto market today shows a slight recovery with the TOTAL market cap of $2.14T and Bitcoin reclaiming the $61,000 mark, Ethereum (ETH) still struggling, XRP getting stronger and Solana (SOL) preparing for a surge in the short-term.
Cryptocurrency prices held steady on Wednesday as a sense of calm returned in the market after the encouraging US Producer Price Index (PPI) report. Bitcoin, the biggest crypto in the industry, crossed the important resistance point at $60,000 while the market cap of all tokens jumped to over $2.14 trillion.
Analyst Javon Marks has predicted a significant price surge for Fantom (FTM) based on technical indicators.
Fantom (FTM) might be up for a huge price breakout shortly after an analyst – Javon Marks – made public his prognosis of the altcoin. Related Reading: Solana Price (SOL) Slips to $140: Will This Level Support a Rebound?
Amid recent market turbulence, certain digital assets are emerging as strong contenders for substantial growth in the near term.
The Fantom blockchain saw mixed performance in the second quarter (Q2) of the year, with key financial metrics cooling amid the broader cryptocurrency market downturn and the Fantom Foundation's announcement to rebrand as Sonic Labs, according to a new report from data intelligence firm Messari. FTM Market Cap, Revenue, And Token Economics After outperforming in Q1, Fantom's circulating market cap decreased 41% quarter-over-quarter (QoQ) from $2.8 billion to $1.7 billion.
It's unsurprising when underdogs come out on top in the crypto arena. DTX Exchange (DTX) is one such example. This presale sensation has been gaining momentum at an incredible rate, capturing more headlines than tokens like Fantom (FTM) and The Graph (GRT).
Fantom's (FTM) price has fallen by 20% in the past 24 hours amid the broader market downturn. Exchanging hands at $0.29 at press time, the altcoin currently trades at a price low last observed in October 2023.
Decentralized smart contract platform Fantom has undergone a transformation, rebranding itself as Sonic Labs in preparation for the upcoming launch of Sonic, an Ethereum Virtual Machine (EVM). The rebrand was officially announced via X on August 1, with Sonic Labs now fully operational across all platforms.
Fantom has rebranded to Sonic Labs, one of the main bodies supporting Sonic, a new layer-1 blockchain with a layer-2 bridge that connects to Ethereum. The project's official documentation stated: “We rebranded to Sonic Labs on August 1, 2024.
TL;DR Rebranding to Sonic Labs: Fantom, a DAG protocol, has transformed into Sonic Labs. The project's official page now bears the name “Sonic Labs,” signaling a fresh direction. Sonic Labs will focus on developing decentralized applications (DApps) within the Sonic ecosystem.
Fantom is now officially Sonic Labs as it looks to mainnet launch of Sonic, the EVM chain that offers a secure gateway to the Ethereum network. The decentralized finance and enterprise applications focused blockchain revealed the rebranding via X, noting that the new Sonic Labs was now live across all of its platforms.
