• Here’s why whales snatched $15 million in FTM

  • According to WhaleStats, whales on the Ethereum network have begun a run of huge purchases of FTM cryptocurrency, with over 18 million FTM tokens purchased in the previous 15 hours.

    According to the service’s token website, the FTM token has seen a 15% growth in the number of active addresses among whales, but the net flow into the asset has plummeted by about 100%, reaching negative $17 million.

    However, while the net flow into the asset remains negative, trading volume has increased by 409 percent. The reason for the rising interest in the token could be related to the token’s core value: the total number of decentralized applications, TVL, and supply in circulation.

    Fantom is continually assisting developers from diverse sectors and providing funding for the creation of new protocols on the blockchain. Despite the departure of Andre Cronje from the project, developers who previously worked for FTM will continue to grow the ecosystem.

    Previously, FTMAlert’s content manager compared Fantom to Apple, which lost Steve Jobs in 2011 but has still risen tremendously and profited $130,000 million in the following ten years.

    In terms of market performance, following Cronje’s exit from the industry, FTM and other DeFi coins lost around 30% of their value. FTM fell below $1.20 and struck a local low in December. The coin is currently trading at levels similar to those seen in September.

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