Positive signals continue to emerge for Ethereum rival Fantom’s cryptocurrency FTM, according to data shared by leading on-chain tracking platform Santiment.
Santiment analysts noted that the FTM price has increased by 165% since the first day of the year, and shared the following note:
“On-chain data clearly supports the rally that started in 2023 at Phantom. The circulating of FTM tokens that haven’t moved for a long time and the increase in whale activity are a good sign for long-term prospects.”
On-chain data tracker, in the analysis he shared privately on his blog “average dollar investment time” In the metric called Phantom, he came across some signs that could make his investors happy in the future.
“There is another signal in Phantom that the uptrend may continue. The “time to investment” metric, which measures the average holding time of ABC traders, has dropped drastically as February approaches.”
The decline in the investment age data shows that there are fewer players who are likely to pre-buy and sell profits during a bull attack in the future. The experts thus concluded that the possibility of selling pressure for FTM was reduced.
Although Santiment analysts emphasize that pullbacks are possible in the short and medium term, they expect an upward movement in the long term.
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