Fantom Network was able log over 300,000 active users per week which represents a decrease of 4% from 325,000 users that were tracked in the previous week.
- Fantom takes the bearish approach, having been negatively impacted in part by the collapse of the crypto markets
- FTM social metrics down
- Fantom tracks over 300,000.
As Fantom (FTM), continues to suffer a massive drop, the bears will be lobbying for Fantom. Fantom acknowledges they are being affected by the negative impact of crypto markets triggering a plunge.
Fantom’s average daily transaction from August 11-18 was 44,300.
Fantom Goes Bearish, Sheds 4.71%
Fantom transaction from August 11-17 also fell by 0.11%. This is a drop from 847,000 one week ago to 846,000 last week.
CoinMarketCap says FTM is down 4.71%, trading at $0.2911 in this writing.
Also, the number of Fantom wallet addresses used to actively trade on Fantom between August 11 and 18 decreased by 48%.
The daily active wallet addresses for FTM dropped by 65% this month. A total of 18,690 new wallet address were generated based upon the verified network wallet addresses.
Fantom saw a drop in FTM’s price during this period. As a result, Fantom had fewer unique wallet addresses.
A dip in the index for new wallet addresses of 19% occurred within a little over a month. It appears that all of this happened in a cascading fashion, creating a sort of domino effect.
FTM Down: Social Metrics
FTM social metrics are down. FTM’s volume and social dominance have declined 25% and 23% respectively since August 11, 2008.
At press time, these social metrics have declined by 57% and 84% respectively.
FTM’s August negative sentiment was at its highest level, at -0.932. This is also the highest recorded in the last three months.
TradingView.com chart
FTM saw a drop of 85% in whale transaction volume that exceeds $100,000 between August 11 and 18.
Transactions that exceed $1 million are the highest. After peaking in two whale transactions, nothing comparable was achieved between August 17 and 18.
CMF’s dynamic FTM line was found at the center line, which suggests a bullish trend in FTM prices. Thus, there is an apparent uptrend.
Investors should be cautious, however, as there are a lot of FTM Coins being withdrawn from crypto exchanges.
Crypto total market cap is $992 Billion according to the Daily Chart | Source: TradingView.com
Featured image taken from Securities.io. Chart from TradingView.com