You can catch 1000 percent or more gains with altcoins. At the same time, altcoins give you the pain of losses over 90%. This altcoin, on the other hand, is different, their investors need a miracle now to be able to take a profitable position again. So does this miracle happen? Here are the details.
Phantom (FTM) Investors
Phantom is one of the top DeFi chains in the world, but as an investment option, it fails to earn a similar reputation given the broader market cues. For this reason, some investors may be more comfortable if they accept what happens rather than hope for what might happen. The Phantom was trending against the market in December, when it rallied at the start of the new year and hit an all-time high.
The price, which was 3.3 since then, has dropped to as low as $ 1.2 today. This drop, which drove around 73% of FTM investors to losses, means pain for many holders.
These people bought their assets when Phantom was at their highest in hopes of an ongoing rally. However, as this has failed, all they have now is the hope of being able to sell their FTMs at close even if not at a profit.
Will Phantom (FTM) Recover?
A 175% rally is needed for the above-mentioned recovery to occur and to be able to sell at cost. So is this possible? FTM’s rallies have always been tremendous. In the past, just before Phantom created ATH, the price had increased by 169%. At the moment, however, the broader market is highly unlikely to rise.
At the moment, minimal bullish hints seem to be forming, but the cryptocurrency will need more than that to recover what it has lost. These NFTs could be in great demand as more investors join the network every day. As of today, the cumulative unique addresses exceeded 2.8 million addresses with a little less than 10,000 daily additions.
Although the current market is holding investors sluggish for now, it may trigger their investment again in the larger time frame. But for now, FTM needs a miracle and the light at the end of the tunnel is yet to be seen.
