Fantom’s price observed a significant decrease of 52.6% within 26 days, signaling a bearish market sentiment. The open interest levels also hit a two-year low, reflecting strong selling tendencies among investors. The technical analysis suggests further downward price movements with targets nearing 0.5 USD.

A planned 1:1 token swap from Fantom (FTM) to the new SONIC token is anticipated, changing trading pair arrangements on key exchanges. This introduction promises increased transaction speeds, potentially boosting demand, although immediate effects on market sentiment post-swap remain cautious.