Fantom token FTM, founded by South Korean computer expert Dr. Ahn Byung Ik, has been within its limits for some time and has recovered after each drop. But after today's correction, interesting behavior from its investors was observed.
Although the first half of November was actually profitable for most altcoins, Fantom made no progress during this time. In fact, as the market crashed, Fantom investors only took more losses.
Initially, FTM fell 41.6% around November 18, but recovered 40.1% the following week. But again on November 26, it lost 17.9%.
Not only that, even the average balance at each address dropped by 37% from $156k to $94k. It turns out that this is the result of active losses, as the total addresses don't change.
Because of this volatility, FTM holders turned to HODLing during times of price declines and turned to cash as soon as FTM recovered.
Given that the network has a 30% dominance in STHs, they may want to withdraw from the market before losses hit them. In fact, even whales could do it, as their volume averaged $200 to $300 million during the month.
Investors see this as an opportunity to "buy the bottom" and own as much FTM as they can. Net flows and order books show 14.1 million FTMs currently valued at $30 million have been purchased. This could also explain the sudden explosion in the number of transactions and active addresses on the network.
So, while it is assumed that investors will recover during a major downturn, Fantom investors seem to be heading in the opposite direction and are looking at this as a good time to save.