After a two-week decline, Bitcoin has regained its footing and has surpassed key levels. As a result of the shift in BTC mood, the broader market traded in the green and gained ground.
Bitcoin is now trading at $42.709 at the time of writing. Ethereum, the second most valuable cryptocurrency, is currently trading at $3289. Cardano has been a winner, with a gain of more than 9% and a price of $1.39.
The Fantom (FTM) price is edging closer to its all-time high, which was reached in October 2021. It is currently trading at $3.28, just 5% below the ATH.
The altcoin has gained more than 40% in the last seven days and is now ranked 25th on the list. In addition, the overall value of Fantom has increased from $1 billion in September to $7 billion now.
The Fantom Foundation listed several key milestones accomplished by the end of 2021, including 700,000 daily transactions and 1.4 million unique addresses.
The coin plummeted to $1.26 by mid-December after a market-wide drop, but it began to recover in the last days of the month, completing the year at $2.25. After reaching $2.6, the coin attempted a second recovery, which was also refused.
This time, FTM dropped to $2.4 before exploding higher in a massive rally. The coin has now crossed the $3 mark and the $3.12 mark.
On the upside, it might reach $3.46, which was the previous high point. However, if the bears seize control, the closest and most critical support level is $3.
According to the prominent crypto analyst and trader Smart Contractor, the entire value locked in Fantom’s decentralized finance (DeFi) ecosystem could be hours away from surpassing the total value locked in the Solana (SOL) DeFi ecosystem.
According to Smart Contractor, the biggest crypto assets in the Fantom ecosystem, such as Spookyswap (BOO), have corrected and are now sitting at attractive entry values.