Whale Alert: 15 Million FTM Tokens Purchased in Last 24 Hours

  • FTM token has seen a 15% rise in the number of active addresses among whales.
  • The content manager at FTMAlert compared Fantom to Apple.

According to WhaleStats, whales on the Ethereum network have initiated a run of massive purchases of the FTM cryptocurrency, with more than 18 million FTM tokens acquired in the previous 15 hours. FTM token has seen a 15% rise in the number of active addresses among whales, according to its token page on the site. Still, the net flow into the asset has plummeted by about 100%, reaching a negative $17 million balance.

However, although the net flow into the asset continues to be negative, the trading volume has seen a whopping 409 percent increase in recent weeks. The reason for the growing interest in the token may be related to the fundamental value of the token, which includes the total number of decentralized apps and the total value of the token in circulation.

Fantom to Apple

Fantom is continually assisting developers from a wide range of areas and awarding funds to create new protocols on the blockchain network. Although Andre Cronje has left the project, developers who have previously worked for FTM continue to expand the ecosystem.

Content manager at FTMAlert compared Fantom to Apple, which, despite losing Steve Jobs in 2011, has grown tremendously and earned $130,000 million in profit over the past ten years.

The market has performed poorly in recent months, with the absence of Cronje as a participant causing FTM and other DeFi tokens to lose around 30 percent of their value. After falling below $1.20, FTM achieved a local bottom in December. The coin is now trading at values similar to those seen in September.

An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.