50% of Fantom (FTM) Holders are stuck in Losses
The recent drawdown of the Fantom (FTM) price may greatly discourage the hodlers, because the fall has not ended yet.
Over the past week, the Fantom price has shown good growth: the token has risen in price by more than 40%, took the $1.00 barrier and closed at $1.11 on Wednesday. However, apparently, the price has already peaked, and the token has already started to decline.
At the time of writing, he was testing the local support level of $1.03. This decline may continue as bullish sentiment weakens.
The recent price increase has also led to an increase in profits, which confirms the indicator of realized profits and losses in the network. Peaks in this on-chain metric show that holders have earned a lot over the past week. This means that in the coming days, impatient investors are likely to rush to lock in profits.
In addition, the bullish mood of investors is now quite low. The reason is that despite the huge profits made recently, the broader picture remains bearish. Almost 50% of all FTM holders are still sitting in losses, and in order not to join them, investors who are in profit can start selling their assets.
