LIVEAltcoin, which increased 2x in a short time, may rise further with whales
The analyst, known as Ali and using the data of the on-chain analysis platform Santiment, included the whale activity in Fantom (FTM) in his post on March 8.
According to the post, whale activity in Fantom is experiencing a great increase. The analyst said that there was a sharp increase in the assets of FTM whales and a decrease in FTM balances on the exchanges.
While the decrease in the number of FTMs in the stock exchanges causes the circulating supply to decrease, it is estimated that the price may increase with the demand.
Analyst Ali stated that these whale movements are supported by the recent rise in price and the altcoin has a strong stance.
According to CoinGecko data, FTM, which has increased by more than 100% in the last 14-day period, has been remaining horizontal for a few days. FTM is trading at $0.802 at the time of writing.