Fantom’s FTM asset has been one of the top trending tokens of the week, and it barely noticed Bitcoin’s (BTC) midweek swoon that halted many altcoin rallies. Despite Bitcoin’s price dropping below $43,000, FTM has added 114% in U.S. dollar terms and 127% in its BTC pair over the last seven days.
FTM’s monthly stats look even more impressive, with nearly 500% growth against both benchmarks. While it is par for the course for altcoins to rally when Bitcoin consolidates, FTM’s price movement is completely asymmetrical to most of its peers.
Let’s investigate what’s behind the record-breaking run and whether there is a way for traders to determine if the rally has the potential to continue.
Current growth drivers
Fantom is a layer-one smart-contract platform that boasts its own high-speed consensus mechanism and modular architecture that is designed to make it compatible with any distributed ledger.
The platform has seen explosive growth in its user activity over the last few months, with the number