All you need to know about FTM’s peaks and troughs after upgrades
Fantom Foundation’s biweekly “Fantom General Update,” was published on 4 July. It highlighted the integration of the Chainlink Keepers and Chainlink VRF on the Fantom mainnet as a significant ecosystem upgrade in the last 14 days. Within this period, the price per FTM rose to a high of $0.31, after which the bears forced a correction.
After a steady decline in the price of the token for most of June, were investors offered any respite in the last two weeks? Let us take a closer look.
Price saw a high, then came tumbling
Between 20 June and 25 June, the price per FTM token rallied by 25% as the altcoin went as high as $0.31 from $0.24. However, this was followed by a price retracement that led to a fall in the coin’s price. Exchanging hands at $0.2641 per FTM coin at press time, a 16% decline was logged between 25 June and 5 July. The market capitalization reached a high of $803.28 million on 25 June. By press time, this figure had dropped to $699.26 million.
According to data from CoinMarketCap, in the last 24 hours, the price per FTM rallied by 3.62%. Currently trading at its August 2021 level, FTM is 92.34% away from its all-time high of $3.38.
Within the last two weeks, the aggregate amount of FTM tokens across all transactions that happened on the network saw a gradual decline. After marking a high of 20.84 million on 21 June, transaction volume went on to decline by 50% by press time. Quantified in USD, transaction volume dropped from $76.83 million to $39.39 million in the last two weeks.
Further, the number of unique addresses that traded the FTM grew steadily to mark a high of 744 addresses by 29 June. Since then, daily active addresses on the network has been on a decline. At press time, this stood at 397 addresses. Similarly, the count for the new addresses created on the FTM network registered a high of 329 new addresses on 2 June. At the time of writing, this stood at 144.