![Fantom [FTM]: More addresses and transactions, but what about DeFi TVL](https://i.headtopics.com/images/2023/3/12/cryptoamb/fantom-ftm-more-addresses-and-transactions-but-wha-fantom-ftm-more-addresses-and-transactions-but-wha-1634698970290171904.webp)
Fantom has seen increased ecosystem growth in the last month. FTM’s price, however, continues to plummet. Following the launch of its go-opera version 1.1.2-rc.5 mainnet upgrade on 6 March, blockchain platform Fantom [FTM] saw a spike in user activity on the chain. According to Token Terminal, on 7 March, Fantom registered 187,237 active users, its […]
, the network’s TVL stood at $386.85 million at the time of writing. In fact, out of the 255 DeFi protocols housed within Fantom, only 20 of them experienced growth in their TVL over the past month.
A majority of these protocols encountered a significant decrease in the worth of assets sent to their smart contracts during the last 30 days, with many registering a decline in double digits.Selling at $0.3195 per FTM token at press time, the alt’s value has declined by 37% in the last month. An assessment of price movement on a daily chart confirmed the commencement of a new bear cycle on 7 February.
FTM’s Moving Average Convergence Divergence indicator has since been marked only by growing red histogram bars. Upon the commencement of the new bear cycle, FTM bears regained control of the market, and increased coin distribution culminated in a price drawdown. The Directional Movement Indicator indicated the re-emergence of FTM bears. At press time, the negative directional index at 28.07 rested above the positive directional index at 11.80, confirming that the sellers overpowered the buyers at press time.Lastly, as of this writing, the token’s Chaikin Money Flow rested below its center line to return a negative value of -0.12.
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