FTM Continues to Surprise

Fantom Insider, a Twitter account that posts updates on the Fantom ecosystem, recently highlighted the networks’ successes. According to the tweet, Fantom had the lowest transaction fee of $0.0003 while capable of processing transactions faster.

These developments may have played an important role in increasing the revenue of the network. Data from Token Terminal revealed that Fantom’s revenue has increased significantly over the past few days, which is quite promising.

Moreover, Fantom’s growth was not limited to network statistics. The performance of its token was also something to consider. According to CoinMarketCap, the price of FTM has increased by more than 14% in the last 24 hours and almost 50% in the last week, which is commendable. It was also interesting that monthly users of FTM have seen an increase recently, which indicates that blockchain adoption and usage are increasing.

While all was looking good, Dune’s data revealed that despite the increase in user numbers, FTM’s transaction count has gained a downward momentum over the past few months. The price increase of FTM also remained a questionable issue, as the latest rise was followed by a decrease in volume. Surprisingly, while the price of FTM rose, its weighted sentiment fell. This shows that the confidence of the investors in the token has decreased. However, both the pace and network growth of FTM have increased in the past week, which is a positive signal.

While a few of the on-chain metrics are bearish, FTM’s daily chart shows that prices will rise further in the coming days. For example, the Relative Strength Index (RSI) has risen and climbed further above the neutral zone. FTM’s Chaikin Money Flow also showed a bullish trend. MACD showed a bullish advantage in the market. Given the market indicators, FTM may continue to witness value pumps in the coming days, but only if the on-chain performance doesn’t bother the token.