Fantom Price Rallies 63% Shooting Past $1, Where’s FTM Going Next?

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As a seasoned analyst with over two decades of experience in the financial markets under my belt, I must say that the recent performance of Fantom (FTM) has caught my attention. With a staggering 63% surge in just six days and daily active addresses on the network surging as well, it’s hard not to be intrigued by this altcoin.

Fantom price has been on a roll with 60% gains on the weekly chart. Smart contract platform Fantom’s native cryptocurrency FTM gained another 10.69% in the last 24 hours, shooting past an important milestone of $1. Also, the daily trading volume has shot up by 68% to $1.4 billion showing strong bullish sentiment.

Fantom Price Rallies 63% Amid Surge in Active Addresses

Over the past six days, I’ve been thrilled to witness a staggering 63% jump in the price of Fantom, a crypto I’m invested in. Simultaneously, there’s been a significant rise in daily active addresses on the network, which suggests more people are hopping aboard. This surge seems to be fueled by a growing FOMO (fear of missing out), as an influx of new traders are joining the platform.

Based on findings from blockchain analysis company Santiment, significant increases in usage and account activity frequently signal market peaks, as observed in past patterns. As these daily active addresses gradually decrease, financial analysts propose that this might offer an excellent opportunity for prospective investors to get involved.

Santiment recommends that traders monitor Fantom’s transaction activity closely, looking out for indications of a potential trend shift. Additionally, they suggest evaluating overall market mood prior to initiating new strategies.

Over the past four days, the decline in Bitcoin‘s price has become more pronounced, and other cryptocurrencies have mirrored this trend. Yet, unlike most altcoins, Fantom’s price increase over the last week has bucked the prevailing market downtrend.

Will FTM Rally to $15?

The imminent “Sonic” update from Fantom may substantially shape the trajectory of the FTM token. Many investors are closely monitoring if these technical improvements will boost FTM’s attractiveness or face challenges in sustaining its current pace as we approach the final days of 2024.

The primary intention behind the “Sonic” update is for the developers to enhance Fantom’s influence within the Decentralized Finance (DeFi) sector. During the 2021 market surge, the Total Value Locked (TVL) in Fantom DeFi skyrocketed to a peak of $15 billion. Unfortunately, it has since dipped down to approximately $320 million. The update aims to restore Fantom’s standing within the DeFi market.

2025 bull run predictions remain optimistic among crypto analysts for Fantom (FTM), with Captain Faibik suggesting a potential 15x increase from its current price ($1.05) to reach $15, given the significant breakout on a multi-year chart. Currently, FTM’s market cap is nearing $3 billion.

$FTM Last Buying Opportunity before the Bullrun 2024-25 !!

Accumulate some for the Long term before it’s too late.

Long term Target : 15$ #Crypto #FTM #Fantom #FTMUSDT

— Captain Faibik (@CryptoFaibik) November 27, 2024

For the near future, if Fantom (FTM) manages to break past the current resistance at around $1.20, it could potentially reach higher levels such as $1.62, then aim for $2.20, and eventually target $2.77.

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2024-11-27 15:14