Phantom Surprises Investors With Price Rise, But Will The Rally Last? money moguls

  • FTM’s active users have increased in recent months, and its price has seen a huge increase.
  • Some metrics were bearish, but market indicators supported the uptrend.

Phantom Insider, a Twitter account that posts updates related to Ghost (FTM) ecosystem, noted recent achievements of the network.

According to the tweet, Phantom had the lowest transaction fee of $0.0003, with the ability to process transactions faster.

realistic or not, here it is ftm market capitalization in btterms of c

These developments may have played a significant role in increasing the network’s revenue. The Token Terminal data shows that phantom income has increased significantly in the last few days, which looks quite promising.

Source: Token Terminal

FTM continues to amaze investors

Furthermore, Phantom’s growth was not limited to network data. The performance of your token should also be considered. According coin market capThe FTM price increased by more than 14% in the last 24 hours and almost 50% over the past week, which was commendable.

At press time, it was trading at $0.4698 with a market capitalization of more than $1.3 billion. It was also interesting to notice ftmMonthly users have registered a recent increase, suggesting an increase in blockchain adoption and usage.

Source: Doon

Is the increase sustainable?

While everything looked good, Dune’s Statistics It was learned that despite the increase in the number of users, there has been a decrease in the number of FTM transactions in recent months.

FTM’s price hike also remains a matter of doubt, as volumes have taken a hit after its latest pumping. surprisingly, while ftmIts price increased, its weighted value decreased.

Therefore, it indicates a lack of investor confidence in the token. However, both FTM speed and network growth increased last week, which is a positive sign.

Source: Feeling

Reading Ghost Price Prediction (FTM) 2023-24

These factors can make FTM and Pump

While some on-chain metrics were bearish, the FTM daily chart suggested more price increases in the coming days.

For example, the RSI rose and moved above the neutral zone. Chaikin Money Flow on FTM is also showing bullish momentum and is looking bullish.

The MACD showed bullish gains in the market. Taking into account market indicators, ftm The increase in price may continue in the coming days, only if the on-chain performance does not bother the coin.

Source: TradingView

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