Fasttoken (FTN) is Rising Despite Crypto Bloodbath
Key Takeaways:
FTN Stability: Despite the market downturn, Fasttoken (FTN)’s price has shown stability, fluctuating between $2.290 and $2.344 over the past week.
Market Activity: FTN’s trading volume surged by 167.28% in 24 hours, indicating strong market activity and interest.
Broad Market Decline: Major cryptocurrencies, including Bitcoin and Ethereum, have experienced significant declines, highlighting a challenging market environment.
YEREVAN (CoinChapter.com) — Fasttoken (FTN) has shown notable stability in a declining cryptocurrency market. Over the past seven days, FTN’s price has fluctuated between a low of approximately $2.290 and a high of $2.344. As of the latest data, FTN is priced at $2.34, marking a 0.33% increase over the week. The token’s market capitalization has risen to $714,580,286, reflecting a 0.76% growth.
While major cryptocurrencies like Bitcoin and Ethereum have faced significant declines, FTN has demonstrated resilience. The trading volume for Fasttoken (FTN) has surged by 167.28% in the past 24 hours, reaching $183,051,596, indicating significant market activity and growing interest. The circulating supply of FTN is currently 304,850,250, representing 30.49% of its total supply of 880,000,000 tokens. The maximum supply of FTN is capped at 1,000,000,000 tokens, giving it a fully diluted market cap of $2,343,950,388.
FTN Price Resilience Amid Market Volatility. Source: CoinMarketCap Why is FTN Rising?
FTN’s recent price increase is due to several factors. The Fastex platform includes a range of Web3 solutions such as Fastex Exchange, Fastex Pay, and Fastex Wallet, which provide practical uses for FTN in various digital applications, including DeFi and payments.
The Proof of Stake and Activity (PoSA) consensus mechanism on the Bahamut blockchain enhances network security and operational efficiency. This system helps maintain network integrity while encouraging user participation, supporting the platform’s capacity to manage a growing number of decentralized applications (dApps).
The FTN token distribution. Source: Fasttoken
FTN’s integration with services like Xcoins, Banxa, and ChangeNOW has made the token more accessible. These partnerships enable users to easily acquire and use FTN across different services.
FTN Integrated with Xcoins for Enhanced Payment Options. Source: fasttoken.com
Supported by SoftConstruct, a technology company, Fasttoken (FTN) benefits from ongoing development and backing, which helps maintain its stability. The expanding range of uses and strategic partnerships around FTN contribute to its steady growth.
Major Cryptocurrencies See Significant Declines
The global cryptocurrency market is experiencing a significant downturn. Bitcoin (BTC) has dropped to $52,201.66, showing a 13.99% decrease in 24 hours and a 24.85% decline over the past week. Ethereum (ETH) is also down, currently priced at $2,298.01, with a 21.13% decrease in the last 24 hours and a 32.12% drop over the week.
Major Cryptocurrencies in Decline. Source: CoinMarketCap
Tether (USDT) remains stable at $1.00, showing minimal fluctuations. Binance Coin (BNB) has fallen to $440.57, with a 16.27% decrease over the past 24 hours and a 25.71% decline in the last week. Solana (SOL) is trading at $118.89, experiencing a 17.03% drop in 24 hours and a 37.93% decrease over the week.
USD Coin (USDC) is stable at $1.00, showing slight positive changes. XRP has decreased to $0.4631, with a 15.66% drop in 24 hours and a 23.61% decline over the week. The overall market shows a downward trend, with significant losses across most major cryptocurrencies.
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