Market Overview:

• Current Price: $0.4591
• Market Capitalization: $1,287,761,529
• Fully Diluted Valuation: $1,458,336,443
• 24-Hour Trading Volume: $279,985,607
• Circulating Supply: 2,803,634,835 FTM
• Total Supply: 3,175,000,000 FTM
• Max Supply: 3,175,000,000 FTM

With a market capitalization of around $1.29 billion and a 24-hour trading volume of almost $280 million, Fantom’s market is clearly rather busy. But the price activity over the previous week has been erratic; FTM trades within a band of $0.3592 to $0.465. These swings mirror the larger uncertainty and selling pressure that have dominated the market.

Price Performance and Historical Context

• 24h Range: $0.3951 – $0.4677
• 7d Range: $0.3592 – $0.465
• All-Time High: $3.46 (Oct 28, 2021) – down 86.7%
• All-Time Low: $0.001902 (Mar 13, 2020) – up 24042.9%

Currently priced much below its all-time high of $3.46, set in October 2021, Fantom Reflecting the trajectory of the wider market, the token has lost 86.7% of its value since then. Still, FTM shows a significant long-term increase since it is much above its all-time low of $0.001902 from March 2020.

Technical Indicators: A Bearish Outlook

• Overall Technical Rating: Strong Sell
• Buy Signals: 1
• Sell Signals: 8
• Neutral Indicators: 2

FTM’s technical indicators show a bleak picture, with a powerful sell signal taking center stage. At 45.12, the Relative Strength Index (RSI) is neutral, meaning FTM is neither overbought nor oversold. Other signals, such as the stochastic oscillator, MACD, and Williams %R, however, all point to a sell, implying that the bearish trend is probably going to keep on.

• Stochastic Oscillator (9,6): 32.047 – Sell
• Stochastic RSI (14): 33.02 – Sell
• MACD (12,26): -0.032 – Sell
• Williams %R: -72.103 – Sell
• CCI (14): -67.8308 – Sell
• ATR (14): 0.1258 – Less Volatility
• ROC: -48.439 – Sell
• Bull/Bear Power (13): -0.1715 – Sell
• Ultimate Oscillator: 53.055 – Buy

With just the Ultimate Oscillator offering a buy signal, the mix of these indicators suggests ongoing selling pressure on FTM. Though the overwhelming amount of sell signals does not port well for short-term price action, the average true range (ATR) shows lesser volatility, which would suggest a time of consolidation.

Moving Averages: A Confirmed Downtrend

• Overall Moving Averages Rating: Sell
• Buy Signals: 4
• Sell Signals: 8

The moving averages confirm even more the pessimistic attitude toward FTM. The basic moving average shows a buy, while the exponential moving average for MA10 points to a sell; the short-term moving averages (MA5 and MA10) are mixed. This mixed signal denotes some extremely short-term uncertainty.

• MA20: Both the simple and exponential moving averages for the MA20 are in sell territory, reflecting the ongoing downtrend.
• MA50 and MA200: The medium and long-term moving averages are firmly in the sell category, indicating that the overall trend for FTM remains bearish.

Conclusion: Bearish Sentiment Dominates

With so many sell signals from both technical indicators and moving averages, Fantom (FTM) is now under substantial selling pressure. According to the present market attitude, FTM might keep under constant downward pressure in the near future.

Given the indications of a negative perspective, traders should approach FTM carefully. Low volatility, as shown by the ATR, and strong sell signals point to FTM perhaps suffering more drops before any possible comeback.

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The post Weekly Analysis of Fantom (FTM): Bearish Signals Dominate appeared first on Coin Engineer.

Critics have pointed to Solana’s ongoing congestion as evidence of its shortcomings. However, Cronje contends that these performance issues are technical challenges resulting from the ecosystem’s exponential expansion, which has led to heightened demand for block space.

Recent data from Dune Analytics indicates a significant increase in transaction failures on Solana, particularly amidst heightened activity driven by the memecoin craze. Despite this, Cronje maintains that the network’s struggles are a consequence of its popularity, rather than inherent deficiencies.

Solana CEO Anatoly Yakovenko echoed this sentiment, acknowledging the frustration of addressing congestion bugs, which require extensive testing and updates to resolve. Despite recent setbacks, Yakovenko remains committed to overcoming these challenges.

The recent bout of transaction failures and network congestion has led to a backlash from Solana users, highlighting the importance of addressing these issues promptly. However, members of the crypto community, including Cronje, emphasize the need for patience and perspective, recognizing the underlying potential of blockchain technology amidst temporary setbacks.

Solana has faced previous instances of downtime, including a significant outage in early February 2024, which halted block progression for over five hours. Despite these challenges, Solana remains one of the leading cryptocurrencies by market capitalization, reflecting its enduring appeal despite recent price fluctuations.

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New Spot Trading Pairs

Effective March 27, 2024, at 1:00 PM UTC, users will have access to a wider range of trading options with the introduction of the following spot trading pairs:

BONK/USDC

FLOKI/USDC

FTM/USDC

MKR/TRY

RAY/TRY

RNDR/BRL

These new pairs cater to the popularity of altcoins like Bonk (BONK), Floki (FLOKI), Fantom (FTM), Maker (MKR), Render (RNDR), and Raydium (RAY).

Automated Trading Tools with Spot Algo Orders

Alongside the new spot pairs, Binance is introducing Spot Algo Orders for the newly listed pairs: BONK/USDC, FLOKI/USDC, FTM/USDC, MKR/TRY, RAY/TRY, and RNDR/BRL. These automated trading tools allow users to execute trades efficiently and implement predefined strategies, streamlining the trading process.

Spot Grid, DCA & Rebalancing Bots for ETHFI/USDT

For the ETHFI/USDT pair, Binance will be launching Spot Grid, Spot DCA, and Rebalancing Bot services. These bots cater to different trading strategies, providing users with additional flexibility in their trading approach.

Eligibility and Regional Restrictions

It’s important to note that access to these new trading pairs and bot services may vary depending on your location. Binance emphasizes the need for account verification to ensure compliance with regulatory requirements and eligibility criteria.

The exchange has also provided a list of restricted countries and regions where users cannot participate in spot trading activities. These currently include: Canada, Cuba, Crimea Region, Iran, Japan, Netherlands, North Korea, Syria, the United States (and its territories), and any non-government controlled areas of Ukraine.

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates.

The post Binance Expands Trading Options with New Spot Pairs and Bot Services appeared first on Coin Engineer.

Over the past four weeks, Fantom’s FTM token has surged by more than 190%, marking an impressive rally. This surge is potentially attributed to anticipation surrounding the network’s forthcoming Sonic upgrade, anticipated to propel the ongoing bull run.

The recent testnet of the upgrade has showcased accelerated transaction processing speeds and quicker finality times.

Fantom, a layer 1 blockchain, has witnessed its native token FTM soar by over 190% in the span of four weeks, distinguishing itself as the top-performing non-meme cryptocurrency among the top 100 digital assets by market capitalization.

According to data compiled by CoinGecko, FTM’s price has catapulted from 40 cents to $1.16, reaching its highest point since April 2022. Concurrently, the token’s market capitalization has surged to $3.29 billion, positioning it as the 44th largest digital asset globally.

In contrast, Bitcoin (BTC), the leading cryptocurrency, has experienced a 28% rally over the same period, while Ethereum, the second-largest cryptocurrency, has gained nearly 20%. The broader market, represented by the CoinDesk 20 Index, has seen a 33% increase.

The impending Sonic upgrade, slated to bolster transaction processing speeds, appears to have spurred heightened interest from investors. Scheduled to replace the existing Opera mainnet in the upcoming spring season, Sonic’s testnet went live in October of the previous year.

During closed testnet sessions with simulated traffic, Sonic demonstrated a maximum theoretical throughput of 2,000 transactions per second (TPS) alongside a time to finality of 1.1 seconds. In comparison, the current Opera mainnet registers a throughput of just 3.2 transactions per second.

Beyond enhancing transaction speeds, the upgrade introduces the Fantom Virtual Machine (FVM), designed to significantly accelerate smart contract execution. By translating Ethereum Virtual Machine’s (EVM) code into its format, FVM facilitates seamless transition for developers. This backward compatibility allows popular Ethereum-based decentralized applications to seamlessly migrate to Fantom.

“Fantom Sonic unlocks new possibilities for the Fantom ecosystem, particularly in decentralized finance (DeFi) platforms, blockchain games, high-frequency applications, and the Internet of Things (IoT),” stated Reflexivity Research in a report released last month. The enhanced throughput and efficiency of Sonic enable smoother operation of DeFi platforms, richer gaming experiences, efficient handling of microtransactions, and secure IoT data exchanges.

Despite the anticipation surrounding the upgrade, investor interest in Fantom’s decentralized finance ecosystem is yet to witness a notable resurgence.

The post Fantom’s FTM Emerges as Top-Performing Non-Meme Token in Last 30 Days appeared first on Coin Engineer.