- Fantom has recorded the highest number of large transactions in October. This led to an impressive price reduction over the last 24 hours.
- As the exchanges were under pressure, average transaction size increased sharply.
The last 24 hours Fantom’s [FTM] CoinMarketCap reports that the price has fallen by a staggering 3.05% and is now $0.78.
If the trend persists, this asset may lose its weekly gains, which were hard earned, while increasing its losses for each month, now exceeding 40%.
The recent whale bulk sale is most likely responsible for the current price decline. If this selling spree continues, further drops are expected.
Whales sold in huge quantities
According to data collected by IntoTheBlock, large traders known as “whales” have increased their activity in FTM during the past 24 hour.
This period saw 184 whale deals, worth 93.31 FTM and $74.8M. This sudden surge of activity is often an indication that the major players in the market are buying or selling a particular asset.
Source: IntoTheBlock
When a spike in volume coincides with an increase in price, as is the case for FTM, this suggests that most large transactions are selling.
AMBCrypto analysed additional metrics of the market to confirm this. It found a dominant bearish mood.
FTM large holders become wary
IntoTheBlock data shows a wider gap between bullish sentiment and bearish amongst large FTM holders.
The Bull vs. Bear metric revealed that FTM has 139 addresses which are bullish compared with 148 addressees who are bearish, indicating a shift towards bearish dominance.
The addresses listed above collectively represent at least 1% FTM’s entire supply. Recent activity indicates that the selling pressure has increased.
The average size of a transaction has also increased dramatically in the last 24 hours. It was approximately $38,500 by the time this article went to press, and the 7-day average is now $32,000.
Each transaction is likely to involve a large amount of money.
Source: IntoTheBlock
FTM price started to fall as retail traders began to put additional pressure on it. This was due in part because of the growing bearish sentiment and high transaction volumes among whales.
Retail sentiment turns bearish
Retail traders on the market have a more bearish outlook, and both spot and futures participants are actively selling.
On the 7th January, $497.370 of FTM was added to the exchange wallets by spot traders.
The trend shows that traders will likely sell more throughout the day.
Coinglass
The increase of FTM supply on exchanges is usually a sign that selling pressure has increased and there’s a positive exchange netflow when assets start moving from wallets to the exchange.
Derivatists are also expressing a bearish outlook. Open interest has declined steadily in recent days, with a drop of 7.34% from $92.62 million to $89.98 million.
You can read more about it here Fantom’s [FTM] Price Prediction 2025–2026
This decline is often a sign that participants in the market are closing their contracts and expressing a lack of confidence, as a bearish mood takes hold.
FTM is likely to experience more declines over the next few months, with most metrics suggesting a downward trend.
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Source: ambcrypto.com
