According to information from WhaleStats, whales on the Ethereum (ETH) network have received more than 18 million Phantoms (FTMs) in the last 24 hours, so it appears that ETH whales have accumulated FTMs.
Great Interest in FTM
According to the data obtained, there was a 15% increase in the number of active addresses of FTM whales. Although the net flows seem negative, the trading volume is attracting the attention of analysts with a huge 409% increase.
According to the statements made, whales may be showing interest in FTM because of its core value. At this point, it is stated that the total number of decentralized applications, TVL and circulating supply may have influenced investment preferences.
In addition, Fantom continuously supports developers in various fields and provides grants for the development of new protocols on-chain. Despite Andre Cronje’s departure from the project, the developers who previously worked for FTM say they will further expand the ecosystem.
Earlier, the content manager at FTMAlert compared Phantom to Apple, which lost Steve Jobs in 2011 but still rose significantly, making a profit of $130,000 million over the past 10 years.
As for market performance, FTM and other DeFi tokens lost around 30% of their value after Cronje left the industry. FTM fell below $1.20 and reached the local bottom in December. Currently trading at September levels, FTM is trading above $1.20 today.
Although analysts state that the way forward for FTM is clear, it is of great benefit for investors to do their own research and take steps after these researches.