Fantom Was Nailed by Spot Bitcoin-ETF Fake News
Fantom prices are losing 9.5% to $0.1810 per coin since the beginning of October. Most of the losses were recorded in the beginning of October, while FTM was seen recovering afterwards. This recovery lasted before the news of the approval of the first spot Bitcoin-ETF for BlackRock by the SEC hit the crowd. Bitcoin prices jumped by 12.0% to $30,400 on the news. Altcoins were following with FTMUSD jumping by 4.7% to $0.1930 per coin. BlackRock denied the report of the approval of its application. Crypto assets’ prices immediately went down to the starting point. However, FTM lost about 2.0% compared to this week opening prices, while Bitcoin added 5.0% despite this pump-and-dump on the fake spot Bitcoin-EFT approval news.
All this manifests about the weakness of the FTM itself. The altcoin is likely to move down towards $0.1500.
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