Fantom ($FTM) has staged a remarkable comeback, witnessing a substantial 31% surge in value today. This surge propelled Fantom’s market capitalization to a staggering $1.87 billion, marking a 22-month high. 

The surge in market cap signals growing investor interest and heightened whale activity, hinting at the potential for further price appreciation.

Recent on-chain reports from Spotonchain shed light on significant whale activity surrounding Fantom:

Whale address 0xdf8, known as “ThetaTfuel,” has recently made notable purchases of Fantom. Over the past 30 minutes, the whale acquired 1.015 million $FTM tokens using 720,000 USDT at an average price of $0.709.

More Fantom $FTM Whale Accumulation And Transfer To Monitor

In the last two days alone, the whale reportedly purchased a total of 4.71 million $FTM tokens through Gemini and Airswap at an average price of $0.57, amounting to an estimated cost of $2.69 million. Notably, a significant portion of these tokens, 3.7 million $FTM, was acquired before the recent price surge at lower prices.

As of now, the whale holds a substantial 6.11 million $FTM tokens, valued at $4.17 million, with an estimated total profit of $933,000.

The surge in Fantom’s value reflects a broader trend of positive sentiment and increased activity within the cryptocurrency market. With Fantom’s market cap hitting a 22-month high and notable whale acquisitions, investors are closely monitoring its trajectory for potential further gains.

As Fantom continues to capture attention and demonstrate resilience in the face of market dynamics, investors remain optimistic about its prospects in the evolving landscape of decentralized finance (DeFi) and blockchain technology.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: skorzewiak/123RF // Image Effects by Colorcinch