Analytics System Outlines Whales to Watch as FTM Surges by 220% Since Jan

The asset’s uptrend has spilled into February, with a 27% increase since February 1.

Following Fantom’s 168% increase last month and its continuous uptrend, blockchain analytics system Lookonchain has outlined five different FTM whales to watch out for as the asset sustains its rally. These whales have maintained on-chain habits that have leveraged the asset’s uptrend for profit-taking.

Lookonchain called attention to these whale addresses today through its official Twitter handle.

Andre Cronje(@AndreCronjeTech
) tweeted 13 reasons to choose Fantom today.

And the price of $FTM has increased by 173% in the past 30 days.

We find 5 whales to watch among $FTM holders.

1.🧵
Share them with you! pic.twitter.com/2ghtxzF9Hv

— Lookonchain (@lookonchain) February 2, 2023

The first whale is the seventh-largest FTM holder, with $27.3M worth of the asset held as of press time. Starting from late 2020, the address has been accumulating FTM tokens amid the asset’s fluctuations. Lookonchain reported that it had always “increased holdings at high prices and reduced at low prices.”

The second whale address holds up to 10M FTM tokens. This whale accumulated their FTM holdings, totalling 10M tokens, between July 2 and 4 last year, at an average price of $0.25. This would translate to a total purchasing price of approximately $2.5M. These tokens have been held through the stormy weather, and are currently worth $6.2M. 

While the second address has been more of a seasoned HODLer, the third whale has been involved in some movements which have so far proven favorable. They amassed 21.4M FTM between September 6 and December 5, 2021 at an average price of $1.72. Afterwards, over half of the tokens, about 11.4M, were offloaded between January 6 and March 5, 2022 at an average price of $1.99. The whale currently holds 10M FTM.

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Lookonchain further highlighted another whale that accumulated a total of 9.12M FTM this year from January 18 to 23 at an average price of $0.34. Shortly after this accumulation, the whale sent 4.56M FTM tokens to Binance two days back when the value had appreciated to $0.48. This is a 41% increase in value, with 4.56M tokens still left as balance.

The fifth whale address currently holds 3.88M FTM tokens. On May 30 and June 1, last year, this address purchased its 3.88M FTM with $1.53M worth of USDT at an average price of $0.39. The assets have so far surged to $2.25M in value.

FTM’s Bullish Run

Meanwhile, FTM has been having a bullish run since the start of the year, at its current price of $0.6418 as of press time, the asset is currently 220% up from the value of $0.1999 it started the year with. This makes it one of the highest gainers this year. The asset has surged by 27% in the past 24 hours.

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