The Fantom (FTM) coin lost some of its traction as it fell to the $0.2916 level, unable to continue its rally. The majority of coin and token prices rose, indicating that the previous week was relatively positive for the cryptocurrency market. With this, the recent gains of the largest cryptocurrencies and tokens, the market cap has exceeded $1 trillion. Therefore, Ghost (FTM) was considered one of the best performing cryptocurrencies in the previous week.
Your capital is in danger.
Key fundamentals in highlights
The gains, however, were short-lived as the Federal Reserve prepares to raise interest rates to fight inflation. The constantly falling prices of BTC are proof of this. As a new week begins, Bitcoin (BTC) is showing tough behavior ahead of another important US monetary policy decision. When Bitcoin prices fall, all other crypto coins, including Fantom coin (FTM), tend to suffer.
Fantom’s current price is $0.2917, with a 24-hour trading volume of $212 million. Fantom has fallen 8.35% in the past 24 hours. CoinMarketCap currently ranks 56th with a live market cap of $742,419,598.
Fantom’s current price is $0.324711, with a 24-hour trading volume of $353,162,217. Fantom has fallen 2.59% over the past day. There is also a live market cap of $826,391,504 and a current market ranking of #56. There are 3,175,000,000 FTM coins available, with 742 FTM coins currently in circulation.
Crypto Bear Market – FOMC Meeting Approaches
The cryptocurrency market was unable to maintain its strong performance from the previous week to this week, and it lost its upward momentum ahead of another key US monetary policy announcement. The previous week was good for the cryptocurrency market as a whole.
The total market capitalization exceeded $1 trillion due to gains in major cryptocurrencies and tokens over the previous seven days. However, the most recent bearish wave in the cryptocurrency market has put pressure on all crypto assets.
This is evident from the recent decline in the value of Bitcoin, the largest cryptocurrency in the world. BTC is plummeting and may soon fall below $21,800. The Federal Reserve’s interest rate hike is the biggest story this week. The Federal Open Markets Committee (FOMC), however, will decide the future of interest rates. It should be 75 or 100 basis points.
In 2018, Fantom was launched, a proof-of-stake (PoS) blockchain that competed with Ethereum smart contracts. Fantom claims to have the fastest smart contract settlement speeds. It also has low costs and can scale up to tens of thousands of transactions per second. Even though the Fantom developers had made no specific announcements, Fantom part prices were increasing. The reason could be related to the Ethereum merger, which aims to create a PoS platform, and its potential “go-live” target date of September 19.
Battle Infinity – New Crypto Presale
- Presale until October 2022 – 16500 BNB Hard Cap
- First Fantasy Sports metaverse game
- Play to Earn Utility – IBAT Token
- Powered by Unreal Engine
- CoinSniper Verified, Strong Proof Verified
- Battleinfinity.io roadmap and whitepaper