{"id":524299,"date":"2023-03-23T18:00:48","date_gmt":"2023-03-23T18:00:48","guid":{"rendered":"https:\/\/uniquehot.com\/?p=524299"},"modified":"2023-03-23T16:03:16","modified_gmt":"2023-03-23T16:03:16","slug":"fantom-ftm-records-23-gains-on-weekly-chart-whats-next","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/fantom\/fantom-ftm-records-23-gains-on-weekly-chart-whats-next\/","title":{"rendered":"Fantom (FTM) Records 23% Gains On Weekly Chart, What’s Next?"},"content":{"rendered":"
While the global crypto market capitalization plunged today, with most coins trading in red, Fantom (FTM) bucked the bears. FTM has scored over 23% price gains on the weekly chart. The coin gained 0.48% on the last day and shows a <\/span>4.65% price increase<\/span> in the previous hour.<\/span><\/p>\n With today’s performance, Fantom joined the list of <\/span>the top-gaining coins<\/span><\/a> over the past week and might be nearing $0.5. However, it is still uncertain if the factors pushing the coin price would bring it above $0.5.\u00a0<\/span><\/p>\n Yesterday the US Federal Reserve bank <\/span>raised interest rates<\/span><\/a> by 0.25% to tame inflation despite the ongoing banking turmoil. The bearish sentiment from the Fed’s interest rate hike has spread across the crypto market and the <\/span>total market capitalization<\/span> has declined by 2.44%.<\/span><\/p>\n Related Reading: Litecoin Surges 13% In Last 24 Hours, Flips Shiba Inu In Market Cap<\/a><\/p>\n The crypto industry, alongside economists and analysts, dreaded this outcome. Bloomberg\u2019s analyst McGlone and others <\/span>predicted<\/span><\/a> crypto prices might plunge deeper should the Feds raise the interest rate bps.\u00a0<\/span><\/p>\n After the bank crash, the Fed interfered with a funding program to assist troubled banks giving hope to investors. People thought the Feds would soften its stance on the borrowing rates hike. But the recent rate hikes suggest otherwise.\u00a0<\/span><\/p>\n While the bearish sentiment from the Fed’s action pushed the crypto market down, FTM remained resilient, sustaining its past week’s gains. <\/span><\/p>\n At the time of writing, FTM has recorded a 23% 7-day gain. It didn\u2019t end there since the token’s price rally reflected a massive surge in trading volume over the past 24 hours. According to <\/span>CoinMarketCap data<\/span><\/a>, FTM observed a 47.65% increase in its 24-hour trading volume against yesterday\u2019s value.<\/span><\/p>\nUS Fed\u2019s Latest Interest Rate Hike Pushes Most Crypto Down<\/span><\/h2>\n