Fantom (FTM) Spikes 13% (Market Watch)


Following several days of impressive price surges and consecutive multi-month highs, bitcoin has calmed slightly but still stands above $60,000. Most altcoins are also untypically stagnant, with the exception of Fantom, which has surged by 13% in a day.

BTC Remains Above $60K

The primary cryptocurrency had dipped below $54,000 just four days ago before a fresh set of news in regards to the SEC approving a Bitcoin ETF in the States propelled a massive leg up.

BTC initially reconquered $58,000 – a level which was previously unable to – and kept climbing upwards. It faced some resistance at the psychological level of $60,000 but ultimately managed to break above it decisively on Friday and Saturday.

The push culminated in reaching $63,000, which became the highest price tag since April. After coming roughly 3% away from its all-time high, though, the bears came to play and drove BTC south again.

In the following hours, bitcoin lost about $3,000 of value to around $60,000 but, as of now, has remained above that coveted level. Its market capitalization has dipped to just shy of $1.150 trillion, and the dominance over the alts stands above 46%.

BTCUSD. Source: TradingView

Alts Stall: FTM Surges

In an untypical fashion, most alternative coins have also remained calm after the recent gains. Ethereum took a swing at $4,000 just days after falling below $3,500 but to no avail. It was stopped in its tracks at just over $3,900 and currently sits below that level.

Binance Coin has been among the most impressive performers as of late, but a 2.7% decline since yesterday has driven the asset to $465.

Cardano, Ripple, Polkadot, Dogecoin, Terra, and Litecoin are also in the red from the larger-cap alts. In contrast, Solana and Uniswap have marked minor gains.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto


Most lower- and mid-cap alts have also failed to produce massive fluctuations. Fantom is among the very few exceptions. FTM has surged by more than 13% in a day and has tapped $2.25.

Ultimately, the crypto market cap has shed off $40 billion from yesterday’s high and is currently below $2.5 trillion.


Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Credit: Source link



Please enter your comment!
Please enter your name here