Cryptocurrency

Fantom’s [FTM] TVL and metrics reveal that future price performance will be…

Bulls rearing to run this morning have been dealt a surprising blow as Bitcoin fell under $29,000 and Ether crashed under $2,000 – as soon as once more. Other alts have been fast to plunge, and so did their total-value-locked rankings.

One coin that had a very troublesome day was Fantom [FTM]. If the departure of key Fantom personnel Andre Cronje and Anton Nell wasn’t sufficient, buyers went right into a frenzy as Cronje was reportedly caught coding a couple of days in the past.

However, what has the newest market circumstances completed to the coin’s price?

Market energy over you grows stronger but

At press time, Fantom’s TVL rating was eight, however the undertaking’s TVL fell by 68.14% within the final month, bringing it to the press time worth of $1.6 billion. For a body of reference, word that in late January 2022, Fantom’s TVL was nearer to $13 billion.

Source: DeFi Llama

If that wasn’t regarding sufficient, FTM was the #55 greatest crypto by market cap, altering palms at $0.3536, after sliding down by 10.59% prior to now day alone and dropping by 3.46% within the final week.

That being mentioned, these numbers aren’t the results of FTM returning to the exchanges. Data from Santiment revealed that from 23 May, tens of millions of FTM left the exchanges.

1653679758 447 Fantoms FTM TVL and metrics reveal that future price performance

Source: Santiment

On the opposite hand, growth exercise on Fantom was trending downwards at press time. However, publish 27 April 2022, growth exercise has been on an uptrend.

1653679758 278 Fantoms FTM TVL and metrics reveal that future price performance

Source: Santiment

However, one issue to notice is that Fantom’s Age Consumed has been spiking since late April, to achieve peaks in mid-May, earlier than declining once more.

This could possibly be an indication of extra panicky buyers exiting their positions. Another concept is that the coding exercise attributed to Cronje has ignited curiosity amongst buyers once more.

1653679758 423 Fantoms FTM TVL and metrics reveal that future price performance

Source: Santiment

That volatility which calls to me. . .

With so many occasions unfolding without delay, the place would possibly FTM’s price head subsequent? TradingView’s Relative Volatility Index [RVI] recorded a worth under 50, suggesting that future volatility was prone to drag the asset’s price even decrease.

1653679758 656 Fantoms FTM TVL and metrics reveal that future price performance

Source: TradingView

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