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Fantom (FTM) Revenue Dips by Double Digits

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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%.

Fantom Active Addresses. Source Token Terminal
Fantom Active Addresses. Source Token Terminal

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

Fantom Monthly Revenue
Fantom Monthly Revenue. Source Token Terminal

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.

Fantom Analysis
Fantom Analysis. Source: TradingView

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

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin Briefly Recovers 5% Due To US-China Tariff Deal Optimism

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Crypto and TradFi markets had a strong opening today, as Bitcoin briefly jumped 5% due to optimism about a tariff deal. China and institutional investors in the US wish to avoid a trade war if possible.

Despite these encouraging signs, no deal has actually been reached, and Bitcoin also suffered subsequent losses. The whole market is in a state of flux until the situation becomes more clear.

How Will Bitcoin Perform Under Tariffs?

The crypto markets are full of fear right now, and it’s difficult to determine a safe bet moving forward. Since the market suffered huge liquidations yesterday, it opened with cautious optimism today.

This trend was particularly influenced by Bitcoin, which briefly jumped around 5% due to hopes about a potential deal on Trump’s tariffs.

bitcoin price chart
Bitcoin Daily Price Chart. Source: TradingView

The price of Bitcoin has fluctuated wildly due to the tariffs as speculation about a sell-off increases. However, the whole market is in a chaotic state right now.

Today, the Dow Jones Industrial Average surged 1,285 points, or 3.4%, while the S&P 500 and Nasdaq Composite both jumped 3.4% and 3.3%, respectively. Nonetheless, hundreds of stocks have fallen 20% or more.

Stock Market Reacts to Tariffs
Stock Market Reacts to Tariffs. Source: The Kobeissi Letter

Meanwhile, Bitcoin has a few advantages that can protect it from tariff volatility. For example, a recent report from Binance Research claims that the least risky cryptoassets are the most insulated from drops.

This includes RWAs and centralized exchanges, but Bitcoin is a close third.

Furthermore, the markets are very optimistic about a deal to avoid the tariffs. Yesterday, rumors of a pause triggered a trillion-dollar rally, highlighting traders’ desperation for good news.

Despite the retaliatory tariffs, China is similarly eager to avoid a full-blown trade war with the US. Trump claimed that he is making progress with China and South Korea, fueling optimism.

Nonetheless, it’s important not to overstate Bitcoin’s chances of success under tariffs. Despite the hopes on both sides of the Pacific, China confirmed that it’s prepared to fight a trade war if Trump forces its hand.

This might explain Bitcoin’s price drops despite its strong performance since yesterday. Ultimately, all we can do is wait and hope.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.





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Ripple Announces $1.25B Acquisition Of Hidden Road To Set Major Milestone

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Ripple Labs has announced a major acquisition to shock the market out of an otherwise dreadful week. Taking to X (formerly Twitter), the crypto firm announced that it has acquired Hidden Road, a brokerage, clearing, and financing firm as it moves forward in its mission to become the leader for institutional investors moving into the digital assets space.

Ripple Acquires Hidden Road For $1.25 Billion

The Tuesday announcement by Ripple has further solidified the mission that the crypto firm has long put forward, and that is to provide instant and quick transfer of value for traditional and institutional investors coming into the digital assets space.

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As CEO Brad Garlinghouse explained in a separate X post, the decision to acquire Hidden Road for $1.25 billion comes after a long-standing customer relationship with the company. Garlinghouse revealed that Ripple understands the breadth of Hidden Road’s expertise, making it a prime candidate for the acquisition.

The integration of the XRP Ledger by Hidden Road will allow for cheap and fast movement of value to the brokerage’s customers, which moves over $3 trillion annually. A portion of this massive value is expected to move through the ledger, as well as using the RLUSD stablecoin as collateral for brokerage services.

Additionally, Hidden Road will be able to expand its capacity for value transfer, allowing Ripple to process even more volume. “With this deal and the backing of Ripple’s significant balance sheet, Hidden Road will exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally,” Garlinghouse’s post read.

This acquisition comes after Ripple acquired Standard Custody back in February 2024. Standard Custody provided an online platform offering clients digital asset custody solutions, enabling Ripple to move into the custody market as well.

XRP Price Responds

Despite the Ripple announcement, the XRP price has remained muted as it continues to struggle below $2, which has since turned to resistance. At the time of writing, XRP is still holding at $1.96, despite its almost 10% in the last 24 hours.

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According to data from Coinmarketcap, the XRP daily trading volume has seen a notable decline, dropping approximately 24% in the last day. This suggests a decline in participation from investors, due to the bearish headwinds that continue to blow through the crypto market.

A recovery from here is highly dependent on Bitcoin, which continues to dominate the market and lead the charge.

XRP price chart from TradingView.com
XRP price pushes upward following announcement | Source: XRPUSDT on TradingView.com

Chart from Tradingview.com



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XCN Price’s Month-Long Bearishness Meets Whale Conviction

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Onyxcoin (XCN) has experienced a month-long consolidation with little upward momentum, leaving the price largely stagnant. The altcoin has struggled to make significant gains, but this has not deterred key investors. 

Whale addresses have continued to hold their positions, signaling optimism despite the market’s sluggishness.

Onyxcoin Whales Are Optimistic

Whale addresses, or holders with significant XCN holdings, have shown resilience amid the price decline. Over the past week, even with no growth in the altcoin’s value, these investors have refrained from selling sharply. This ongoing HODLing behavior suggests that they maintain a long-term bullish outlook for Onyxcoin, possibly expecting future gains once market conditions improve.

This conviction among large holders reflects a belief in Onyxcoin’s potential for recovery. Despite a lack of short-term gains, these investors appear focused on holding until the price begins to rise again. Their reluctance to sell even in a stagnant market is a positive indicator of potential upside when the market conditions shift.

Onyxcoin Whale Holdings
Onyxcoin Whale Holdings. Source: Santiment

On the broader scale, technical indicators like the RSI have been showing a bearish trend for over a month, remaining stuck below the neutral line. The RSI’s positioning below 50.0 suggests that selling pressure still outweighs buying momentum, keeping the price suppressed. The indicator’s prolonged decline points to a sustained bearish market environment.

While this presents challenges for Onyxcoin in the short term, it also implies that the bearish momentum could eventually reach a saturation point. If the market shifts and buying pressure increases, XCN may experience a recovery rally, provided other macroeconomic factors align. 

XCN RSI
XCN RSI. Source: TradingView

XCN Price Is Looking To Rise

XCN is currently trading at $0.0089, staying within a narrow range between $0.0100 and $0.0083 for the past week. This consolidation is likely to continue unless market conditions improve. The altcoin’s price action has been largely dictated by the lack of positive market momentum, limiting any immediate breakthroughs.

If the broader crypto market sees improvement, XCN could break through the $0.0100 resistance and begin moving toward the $0.0120 level. This would mark a recovery of a portion of the recent losses, potentially restoring investor confidence and signaling a shift toward a more bullish trend.

XCN Price Analysis.
XCN Price Analysis. Source: TradingView

However, if XCN fails to hold above $0.0083, the altcoin could face a further decline, potentially reaching $0.0070. This would invalidate the bullish outlook and deepen the losses, reinforcing the need for caution among investors awaiting market stabilization.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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