Another Fantom Hack? FTM Slumps 15% After DEX Attack

Fantom (FTM), the native token on the eponymous blockchain, fell sharply after one of its largest DeFi exchanges (DEX) was hit with a hack. FTM slumped over 15% in the past 24 hours, and is now trading at nine-month lows of $0.322552.

Timeline of Fantom

The Fantom(FTM) traders completed the prior bear cycle within a falling channel as the altcoin dropped to the support trendline at $0.03. However, the altcoin rebounds from this trendline with a morning star candle in response to the price pattern.

Decentralized AI-powered oracle service, Oraichain announced the availability of Verifiable Random Function (VRF) services on Fantom blockchain. The launch of VRF 2.0 aims to enhance the building of decentralized applications (dApps) on the vibrant Fantom ecosystem, boosting trust and fairness in these dApps.

The crypto space is currently undergoing deep plunge trouble as the Bitcoin price slides down below $33,000. With extreme fear among the traders, the market is expected to crash, slicing the lower support. However, some altcoins are expected to rebound firmly, gaining significant bullish momentum very soon.  Fantom(FTM) Price Could Hit $1 The FTM price …

Since spiking sharply and hitting a high of $3.36 back in January, FTM has primarily been on a downward trend. The cryptocurrency started its current 7-day cycle trading at $0.94 and has barely tried to break that level since.

A fresh falling channel pattern drives the Fantom(FTM) price to the ground or below the $1 mark in a less demeaning way. The recent bearish reversal brings the altcoin to $0.70 with an engulfing candle, struggling to continue underneath it.

The dramatic trend reversal by the global cryptocurrency market has left the crypto space gloomy. The world's largest cryptocurrency by market cap has drastically dropped below $36,000 pulling down Ethereum and other altcoins too. Among these altcoins is Fantom (FTM) Price which is among the top 50 largest cryptocurrencies by market cap and is hit …

One of the popular Crypto analysts who is pseudonymously known as Capo is expecting a bearish momentum for two Ethereum competitors  Capo explains to his 263,800 Twitter followers that we could see a downfall of two layer-1 platforms by over 50% from their current levels  The cryptanalyst starts his prediction with Fantom (FTM) and asserts …

For nearly two weeks, Bitcoin's price has been stuck in a narrow range with no substantial price movement, but a price drop below $37,000 might complicate a relief recovery. The only constants in the crypto industry are uncertainty and volatility. Bulls took a back seat once again as the main crypto-asset – bitcoin (BTC) – …

Popular crypto analyst and trader Michaël van de Poppe is laying out his predictions for four altcoins in the wake of an extended crypto market correction. In a new strategy session, Van de Poppe tells his 165,000 YouTube subscribers that looking at past cycles can be a good barometer for what might be on the The post Here's What's Next for Chainlink (LINK), Uniswap (UNI), VeChain (VET) and Fantom (FTM), Says Top Crypto Analyst appeared first on The Daily Hodl.

The state of the market is such that every cryptocurrency is seeing the worst fall and the lowest prices they have in weeks, some in months, and in the case of Fantom, years.  The altcoin had managed to mark a new all-time high earlier this year in January but has since been plummeting on the