Fantom (FTM)

Fantom is a distributed ledger technology stack. At its foundation, it is a DAG-based distributed ledger incorporating new methods of scalability, combined with a high-performance virtual machine and safe, secure smart contract execution. Fantom attempts to use a new consensus mechanism based on smart contracts to facilitate Defi and related services. The team has extensive experience in the field of full-stack blockchain development and aims to create a smart contract platform with scalability, decentralization, and security.

1. Basic Info

2. Technical

2.1 Kline Price Chart

2.2 Technical Analysis

The analysis of the provided K-line data reveals a notable downward trend shift following a period of high volatility and price fluctuation. Starting from December 17, 2024, a clear downtrend begins, characterized by lower highs and lower lows. The period from December 15 to December 17 showed strong upward movement, culminating in a peak. However, the subsequent days demonstrate a consistent decrease. This decline is punctuated by several significant price gaps between closing prices of previous days and opening prices of subsequent days.

Specifically, the period from December 17th to December 26th shows a rapid price retracement after the peak. There was a brief consolidation attempt near the end of December 2024, but the downward pressure remained. The volume figures suggest higher trading activity during the upward swings and the initial phase of the decline, before reducing over the month. The recent days including the first 5 days of January 2025 indicate a failure to recover, with prices continuing to fall significantly and reaching lows not seen since before the initial surge.

The volume figures from December 27th to January 5th of 2025 indicate a sharp decline as well. The prices are decreasing, accompanied with a drop in market interest. This suggests bearish sentiment and is a sign that selling pressure is continuing to suppress prices. In terms of the trading ranges over the past week, there are a considerable differences between the high and low points, indicative of price volatility that, despite a downward bias, shows no sign of consolidation. The consistent pattern of lower closes and shrinking volumes suggests that the downward trend is not yet exhausted, and a continued decrease in price is expected until there is evidence of a reversal. The market has moved from a high volatility period to a more defined downtrend, with low trading volume at lower price levels. Based on the chart, further decreases are possible until strong support or a reversal pattern are found. The decrease in prices have been quite continuous with a small bounce back here and there. Therefore, we could expect the prices to go down further. The opening price on 2025-01-05 was at 0.8518 and closed at 0.7926, which means that the prices experienced a downtrend. In the context of recent prices, the recent downtrend is likely to continue. The market is showing weakness as it continues to make lower lows and is not displaying strong bullish signals. Therefore, the bearish trend continues to dominate.

3. News

3.1 News List

• 20250102

  • Sonic Labs: S tokens will be listed on more than 12 centralized exchanges in January ↑

• 20241230

  • Data: A whale sold 2.82 million FTMs 3 hours ago and received $2.19 million USDC, which was then deposited into Binance ↓
  • ETH band winning rate 85% Whale withdrew 2.82 million FTM from Binance two hours ago, equivalent to about 2.2 million US dollars ↑

• 20241228

  • Megabit will launch FTM USDT perpetual contract, supporting up to 75x leverage ↑
  • Data: A whale deposited 10 million FTM into Binance 2 hours ago, equivalent to about 8.17 million US dollars ↑

• 20241224

  • Sonic Labs: Fantom-based governance proposal drives new token economics, airdrops approximately 200 million S tokens
  • Binance supports Fantom’s rebranding to Sonic and token swap ↓
  • Binance to support FTM token swap and rebranding ↓

3.2 News Analysis

The provided data indicates a significant shift in the Fantom ecosystem, culminating in a rebranding to Sonic and the introduction of a new governance token, S. The timeline reveals a coordinated series of events, beginning with a governance proposal and a subsequent airdrop of the S token. These foundational changes were quickly followed by major exchange support, namely Binance, for the rebranding and token swap. Simultaneously, substantial whale activity suggests a period of strategic market maneuvering around FTM and the pending launch of the S token. The initial large deposits of FTM into Binance suggest a build-up of liquidity, likely in anticipation of the swap. This was followed by a significant sale of FTM and a corresponding withdrawal from Binance, perhaps in preparation for trading the S token or taking profits from pre-rebranding FTM positions. The Megabit launch of a FTM perpetual contract with high leverage underscores the increased market speculation around the asset prior to the rebranding, and before the Sonic token has fully established itself. The anticipation for the S token launch is further emphasized by Sonic Labs’ commitment to rapid centralized exchange listings, beginning in January, showing a confident outlook for widespread adoption. The overall picture points to a deliberate campaign to revamp Fantom, potentially creating a more robust and attractive ecosystem under the Sonic brand, yet considerable volatility is expected around the transition and the initial trading of the S tokens, and these could influence future price action for both. The interplay between whale activity and exchange developments will be a key driver of these trends.