Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»How FRC-20 Boosted Fantom Trading to Record Highs
ALTCOIN NEWS

How FRC-20 Boosted Fantom Trading to Record Highs

By Crypto FlexsNovember 24, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
How FRC-20 Boosted Fantom Trading to Record Highs
Share
Facebook Twitter LinkedIn Pinterest Email

reporter

Posted on: November 24, 2023

  • The number of daily transactions on Phantom recently hit an all-time high.
  • However, demand for FTM continues to plummet.

Phantom Network (FTM) recently saw a surge in activity on November 22nd with the launch of the Phantom Inscription FRC-20 protocol on the blockchain.

The popularity of the protocol led to a record 2.94 million transactions on the network, a significant increase over the typical daily number of transactions.

This surge in activity also caused gas fees to surge, reaching a high of 11,000 GWEI during the intraday trading session before the correction.

At press time, the average gas price on the Fantom network was 3379 GWEI. FTMScan.

FTM does not respond

Despite the surge in trading volume and gas prices recorded on November 22, the price of FTM failed to show a positive price reaction.

The altcoin continued its week-long decline, falling a further 0.44% in the last 24 hours.

According to CoinMarketCap, the price of FTM fell 14% in the past week, making it the second-biggest losing cryptocurrency asset over the past seven days.

In addition to the price decline, daily trading volume has also steadily declined over the past week. According to data obtained from Santiment, daily FTM trading volume decreased by 82% between November 16 and 23.

Even on November 22nd, when the Phantom Network reached an all-time high in terms of number of daily transactions and gas fees, FTM trading volume fell by 37%.

Source: Santiment

The price decline of FTM over the past week is consistent with the continued decline in new demand and trading activity related to altcoins.

According to data from Santiment, the daily number of new addresses created for FTM transactions has decreased by 93% over the past seven days.

Likewise, the number of unique addresses involved in daily FTM transactions has decreased by more than 85% over the same period.

Source: Santiment


Read Fantom (FTM) Price Forecast for 2023-24


Investors may have been reluctant to trade FTM last week due to continued plummeting Market Value to Realized Value (MVRV) ratios.

At press time, FTM’s current market value is -39.58%, which is lower than the average price at the time of last purchase. Therefore, most holders can expect to lose at least 40% of their initial investment if they sell now.

Source: Santiment

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Economist Henrik Zeberg says that Altcoins is trying to start an explosive stage and updates Outlook and Under-The Radar Crypto for Dogwifhat.

June 5, 2025

AI TOKEN LIVEPEER (LPT) cuts 150% and then falls 40% -What is the leading volatility?

June 5, 2025

The XRP face to unlock $ 2.2B. Are $ 2.14’s support under pressure?

June 5, 2025
Add A Comment

Comments are closed.

Recent Posts

Economist Henrik Zeberg says that Altcoins is trying to start an explosive stage and updates Outlook and Under-The Radar Crypto for Dogwifhat.

June 5, 2025

How Algorand is quietly building the future of finance around the world

June 5, 2025

As the network activities are slow, Ether Room is unlikely to break $ 3,000 in the short term.

June 5, 2025

AI TOKEN LIVEPEER (LPT) cuts 150% and then falls 40% -What is the leading volatility?

June 5, 2025

NVIDIA DALI improves data processing function with new features.

June 5, 2025

Why is the ratio of cryptocurrency exchanges near Bitcoin’s lowest level of seven years?

June 5, 2025

The XRP face to unlock $ 2.2B. Are $ 2.14’s support under pressure?

June 5, 2025

Bitcoin protection zones, Stablecoin regulations are the main drivers.

June 5, 2025

BITMEX, June 10 Q3 2025 quarter gifts

June 5, 2025

More XRP metrics offer a $ 3 rally in June.

June 5, 2025

Nibiru starts the “Block Party” AURA program to compensate for actual defect activities.

June 5, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Economist Henrik Zeberg says that Altcoins is trying to start an explosive stage and updates Outlook and Under-The Radar Crypto for Dogwifhat.

June 5, 2025

How Algorand is quietly building the future of finance around the world

June 5, 2025

As the network activities are slow, Ether Room is unlikely to break $ 3,000 in the short term.

June 5, 2025
Most Popular

Did the Altcoin season end in 2025? Experts think that it was delayed that it was not dead.

June 4, 2025

Mike Tyson has joined the boxing blockchain project.

April 20, 2024

Was it the ‘generation floor’ of $ 1.4K Ether Lee? -Data sends a mixed signal

April 24, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.