In its newest “Weekly Recap Week,” report, Fantom revealed that it was impacted by the bearish sentiment of the cryptocurrency market within the final week because it suffered some on-chain decline.
In keeping with the data offered, between 11-18 August, the community logged 310,000 weekly lively customers.
This was a 4% decline from the 325,000 recorded the earlier week. Additionally, common each day transactions on the community between 11-18 August totaled 44,300. Thus, dropping by 4% from the 46,400 common each day transactions recorded final week.
Moreover, the index for common each day transactions on the community between 11-17 August declined by 0.11%. Thereby, falling from 847,000 within the earlier week to 846,000 recorded final week.
Wait, there’s extra
Within the interval underneath assessment, the worth of FTM dropped from $0.37 to $0.33, declining by 10%. As of this writing, the coin exchanged fingers at $0.305, having fallen by 10% within the final 21 days, as per information from CoinMarketCap.
In keeping with information from Santiment, the variety of distinctive addresses that traded FTM between 11-18 August fell by 48%.
Thus far this month, each day lively addresses on the community have declined by 65%. Relating to new addresses on the community, within the interval underneath assessment, 18,690 new addresses had been created.
Nevertheless, as the worth fell inside that interval, new addresses created on the FTM community each day additionally dropped.
Within the final 21 days, the index of latest addresses created each day has fallen by 19%.
On a social entrance, FTM’s social quantity and social dominance dropped by 23% and 25%, respectively, between August 11 and 18.
Thus far in August, these social metrics have declined by 84% and 57%. As of this press, the coin’s weighted sentiment posted a detrimental worth of -0.932, its highest detrimental sentiment within the final three months.
As well as, between 11-18 August, FTM logged a decline in its rely of whale transactions on the community.
Within the interval underneath assessment, the rely for whale transactions above $100,000 dropped by 85%.
For transactions above $1 million, after rising to a excessive of two whale transactions on 16 August, no such whale transactions had been accomplished on 17 and 18 August.
Extra methods up its sleeves?
As of this writing, FTM’s Chaikin Cash Move (CMF) dynamic line was pegged on the central (0.0) line.
This place alerts ample bullish strain on an asset’s worth. Due to this fact, an uptrend within the worth of FTM may very well be anticipated.
Nevertheless, with extra FTM cash taken out of exchanges than are taken in, buyers ought to tread cautiously.