Monthly revenue across the Fantom (FTM) network has plummeted by over 30% in the last month. This has occurred despite the uptick in the number of active addresses on the network during the same period.

The decline in Fantom’s revenue is due to the decrease in the value of its governance coin FTM, whose price has plunged by almost 40% in the past 30 days.

Fantom’s Active Addresses Grow, But There Is a Catch

Fantom has witnessed a significant uptick in active users over the past month. With a user count of 593,340 addresses in the past 30 days, the number of unique addresses that have interacted with the blockchain network during that period has risen by 77%.

The cause of this is not far-fetched. During the period under review, FTM’s value has significantly declined. Since gas prices on the network are denominated in FTM, a decrease in FTM’s price makes transactions cheaper for users interacting with the network, hence the surge in active address count.

Due to low gas prices on the Fantom network, transaction fees have totaled $52,490 in the last 30 days, dropping by 31%. The revenue derived from these fees is $15,750, declining by over 30% during the same period.

Fantom’s monthly revenue began to decline after closing at a year-to-date high of $89,377 in March. By the end of Q2, this has dropped by 81%.

Read More: Top 5 Yield Farms on Fantom

So far this month, Fantom’s revenue has totaled $3,506.

FTM Price Prediction: Surging Selling Pressure to Cause Further Decline

As of this writing, FTM exchanged hands at $0.44. The coin’s value has plunged by almost 40% in the last month. This has caused the coin’s price to trade under its 20-day exponential moving average (EMA)  and its 50-day small moving average (SMA)

An asset’s 20-day EMA measures its average price over the last 20 days, while its 50-day SMA tracks its average price over the last 50 days. When an asset’s price falls below these key moving averages, it means that its value is lower than the average price over both short-term and long-term periods, suggesting a potential continuation of the downward trend.

If FTM’s downtrend continues, it may fall to exchange hands at $0.43.

However, if the bulls regain market control and buying momentum spikes, the coin’s value may rise to $0.47.

Cardano’s (ADA) price is still hovering in the sub $0.40 range, which it has reached following recent declines. 

The recovery from here will be difficult since the network is witnessing minimal support from its investors.

Cardano Investors Remain Bearish

Cardano’s price has been rising impressively by 7% over the past 24 hours, but ADA has yet to breach the resistance at $0.37. Trading right under it, the altcoin seems to be awaiting a huge positive trigger that may not arrive.

The lack of this trigger is potentially due to the ADA holders refraining from participating in the network. The decline in participation is a reaction from the investors who are opting to prevent losses by not conducting a transaction.

With the traders backstepping and the price declining, the larger impact will be massive losses.

According to the Global In/Out of the Money (GIOM) indicator, about 7.01 billion ADA worth more than $2.5 billion is at stake here. This supply was bought when ADA was trading between $0.37 to $0.42.

The entire supply is at risk since Cardano’s price fell from $0.42 to change hands at $0.37 at the time of writing. Barely profitable, the supply is on the verge of losses and warrants substantial bullishness from the investors. 

To keep these ADA from losing profitability, investors will have to push the price back up to $0.42. This will prevent the losses and recoup all the lost gains from the past week.

Read More: How To Buy Cardano (ADA) and Everything You Need To Know

ADA Price Prediction: Trigger Ahead

Once $0.37 is flipped into a support floor, Cardano’s price can be considered recovering. Further gains can be expected. However, a straight-up rally may be slightly difficult, considering the lack of activity and bullish cues.

This could lead to some resistance in recovering the recent losses, potentially even rejecting a bounce back. Thus, ADA could end up hovering under the $0.37 mark.

Read More: Cardano (ADA) Price Prediction 2024/2025/2030

However, if the test of this level as support is successful, it could push through the barrier at $0.40 to rally further. This would invalidate the bearish-neutral thesis and increase profits.

APT, the governance token of the Layer 1 blockchain network Aptos, has witnessed a significant price decline in the last month. This comes amid the general decrease in activity in the cryptocurrency market during that period. 

Exchanging hands at $5.82 at press time, the altcoin’s value has plunged by over 30%. APT remains at risk of significant price swings as its volatility markers have begun to spike. 

Aptos Sees Spike in Volatility 

The first indicator of the heightening volatility in the Aptos market is its Bollinger Bands. Readings from this key volatility market show a widening gap between the upper and lower bands of the indicator.

Bollinger Bands measure an asset’s market volatility and identify potential overbought or oversold conditions. When the gap between the upper and lower bands of the indicator widens, it indicates increased market volatility.

Also, during a period of price decline, the widening bands suggest that the downtrend may continue. It signals stronger selling pressure or a lack of buying interest at current price levels.

APT’s surging Average True Range (ATR) confirms the spike in market volatility. 

Read More: Where To Buy Aptos (APT): 5 Best Platforms for 2024

This indicator measures market volatility by calculating the average range between high and low prices over a specified number of periods. 

When its value rises, it suggests increased market volatility and hints at the possibility of a price swing in either direction.  At press time, APT’s ATR is 0.48. It has been on an uptrend since July 1. 

APT Price Prediction: Bearish Divergence Puts Token at Risk

Despite APT’s price decline, it has witnessed a surge in its daily trading volume. While the token’s price has fallen by 18% in the last week, its trading volume has increased by 29% during the same period.

The opposite movements of APT’s price and its daily trading volume create a bearish divergence, suggesting that more market participants are actively selling the asset.

If selling activity remains high, the token’s value may plunge to $5.62.

However, while increasing volume during a decline generally supports the continuation of the downtrend, extreme spikes in volume could sometimes precede a price reversal. Therefore, if APT witnesses a correction, its price may climb above $5.90.