Last week, Fantom fell sharply. By the end of the week, it closed nearly flat. Markets continue to evaluate the cryptocurrency after it changed its staking requirements. That would increase Fantom’s security and its appeal to cryptocurrency investors. The Foundation needs to continue to innovate. FTM-USD lost 22% in the last month.
Here is the post on the staking requirements change:
https://www.baystreet.ca/cryptonews/720/Weekly-Fantom-News
The reduced staking threshold should increase the daily active addresses. Reducing the minimum stake to increase stake participation and decentralization is a net positive. Expect new unique addresses to increase in the quarters ahead.
In the fourth quarter, Messari reported that Fantom’s market cap circulation increased by 140% to $1.3 billion. The crypto benefited from introducing an Ecosystem Vault and Gas Monetization program in the fourth quarter of 2023.
Weekly FTP Price Action
FTM cannot blame its monthly drop on Bitcoin’s (BTC-USD) decline, which lost 3.1% in the same period. Its most recent price of $0.375 compared to its all-time high of $3.00 should attract speculators. Still, the over $3.00 “double peak” reached in late 2021 through the start of 2022 is likely an anomaly. Since 2022, FTM traded in a range of between $0.21 and $0.63.
Your Takeaway
Fantom is among the cryptocurrencies to watch closely. Launches like the blockchain-based game Estfor Kingdom will increase daily new addresses.
