After declining for about two weeks, Bitcoin is now back and has surpassed the important levels. With the shift in BTC’s sentiment the overall market too traded in green and registered gains.
Bitcoin at the time of writing is trading at $42.709. Second largest cryptocurrency Ethereum is trading at $3289. Cardano has emerged as a winner and has gained more than 9 percent and is trading at $1.39.
Fantom (FTM) price is inching closer to its ATH set in October 2021, it is just 5 percent down from the ATH and is trading at $3.28.
In the last seven days the Altcoin has gained more than 40 percent and the coin is at 25th place on the list. .Fantom’s total value has risen from $1 billion in September to $7 billion now.
The Fantom Foundation provided a list of significant milestones reached at the end of 2021, including daily transaction counts of 700,000 and unique addresses in the 1.4 million range.
Following a market-wide fall, the coin fell to $1.26 by mid-December, but it began to recover in the last days of the month, closing the year at $2.25. After reaching $2.6, the coin tried another recovery, which was rejected once more.
This time, FTM fell to $2.4, after which it exploded higher in a tremendous rally. The coin has now surpassed the $3 level, as well as the $3.12 milestone.
On the upside it could target the previous ATH $3.46. If the bears take control then the nearest and important support level is at $3.
The total value locked in Fantom’s decentralised finance (DeFi) ecosystem could be hours away from surpassing the total value locked in the Solana (SOL) DeFi ecosystem, according to the popular crypto analyst and trader Smart Contractor.
The main crypto assets in the Fantom ecosystem, such as Spookyswap (BOO), have corrected, according to Smart Contracter, and are currently sitting at good entry points.
“Some decent pullbacks on FTM ecosystem top coins. If you were waiting for pullbacks, time to shoot your shot in my opinion. GEIST, TAROT, SPIRIT, BOO, SCREAM.”
Source: https://coinpedia.org/altcoin/fantom-heads-towards-a-massive-recovery-new-ath-incoming-for-ftm-price/