why is fantom coin going down 
fantom
Fantom Coin (FTM) has been a popular cryptocurrency in the market in recent months, but it’s seen a sharp decline over the past few weeks. Many investors are wondering why FTM coin is going down and what factors might be driving this downward trend. In this blog post, we’ll take a look at some of the possible reasons behind FTM's price drop.
One factor that may be contributing to FTM's decline is its lack of liquidity on major exchanges like Binance and Coinbase Pro. This means there aren't enough buyers or sellers for large trades to happen smoothly, which can cause prices to become volatile as people try to buy or sell their coins quickly without getting stuck with them for too long. Additionally, many investors have lost confidence in Fantom due to its slow development progress compared with other projects such as Ethereum and Tron – both of which have made significant strides recently while Fantom remains relatively stagnant from an innovation standpoint.
Another potential reason behind the drop could be related to recent news about one of Fantom's competitors – Solana (SOL). SOL has been gaining attention lately thanks largely due its high transaction throughput capabilities; something that many believe will give it an edge over other blockchain networks including those powered by FTMs consensus algorithm - Opera Chain Consensus Protocol (OCP). If more developers begin building applications on top of SOL rather than OCP then it could further reduce demand for FTMs tokens leading prices even lower until they eventually stabilize again somewhere else near current levels or below them depending upon how much investor sentiment shifts away from OCP-powered blockchains overall during this time period..
Lastly, another factor potentially influencing FTM’s price movement could simply be market speculation surrounding new projects entering into competition with existing ones like FTMs own platform DAppChain so if these new entrants prove successful then naturally investor interest would likely shift away from older platforms thus causing their associated token values decrease accordingly..
Overall there doesn't appear any single event responsible solely responsible for driving down fantoms value however multiple factors such as low liquidity poor development progress increased competition plus general speculative trading activity all seem play role here making difficult pinpoint exact cause(s) underlying current downtrend .