The crypto market is increasingly focusing its attention on Fantom [FTM].
Recent on-chain metrics are showing clear signs of a potential price surge, with a predominant presence of long-term holders on the network leading to a significant increase in exchange inflows.
Long-Term Holders Showcase Strong Confidence in Fantom
An important metric signaling the potential price uptrend for Fantom is the high percentage of addresses accumulating the token, currently standing at 73%.
This indicates robust market sentiment and trust among long-term participants.
Historically, a higher number of holders retaining their tokens leads to decreased selling pressure, laying a sturdy foundation for price appreciation.
Long-term holders of Fantom are typically more resilient to market volatility, thereby reducing sell-offs and potentially stabilizing the token’s price while also encouraging further buying interest.
The significant number of investors holding onto Fantom adds further weight to the bullish sentiment.
The Impact of Stablecoin Liquidity
At present, the Fantom ecosystem has approximately $112 million worth of stablecoins locked up, which accounts for 30% of its market capitalization. The presence of stablecoin liquidity in DeFi projects injects essential capital into the ecosystem.
In Fantom’s case, this liquidity influx could pave the way for higher price targets amidst increased market volatility.
The substantial amount of coins locked within the network reflects investors’ confidence in Fantom’s long-term growth trajectory, further enhancing the positive outlook.
Is Fantom Poised for a Price Surge?
Recent data shows a more than 5% increase in exchange inflows for Fantom over the last day, fueling optimistic sentiments.
This uptick suggests that market participants are gearing up for short-term opportunities, potentially translating into heightened buying activities.
Given this positive momentum, Fantom stands a chance to break through to new price thresholds. Recently surpassing the $0.62 resistance level, the coin is currently in a consolidation phase.
With the prevailing positive sentiment, there is a likelihood that the price could soar to as high as $0.86 in the near future.