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Fantom (FTM), which is facing a 30% loss due to fresh omicron concerns, was affluent at the beginning of the week

. The crypto market was following major global indices that were in decline since the beginning of trading this week. Investors are taking a cautious approach to trading, due to growing concerns about Omicron and hawkish FED sentiment. The move has seen mega-cap coins like BTC and ETH decline, but Fantom (FTM), the smart contract…

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The crypto market was following major global indices that were in decline since the beginning of trading this week. Investors are taking a cautious approach to trading, due to growing concerns about Omicron and hawkish FED sentiment. The move has seen mega-cap coins like BTC and ETH decline, but Fantom (FTM), the smart contract platform, appears to be staring at an ugly day if conditions hold. These are some noteworthy facts:

  • FTM is losing ground in intraday trading and has lost nearly 6% at press-time

  • The price is closely approaching the 200-day moving average of $1. 196

  • A massive wipeout could be triggered if the price falls below the 200-day SMA

Data Source: Tradingview.com

Fantom (FTM) – price action and analysis

Today’s intraday loss reflects the bearish trend we have observed with FTM over recent weeks. After reaching all-time highs at $3. 69 in October, it’s been nothing but free fall for FTM ever since. The coin is 65% lower than these highs and has seen $6 billion worth of market cap slip away during the same period.

It doesn’t look like this trend will reverse. As noted above, we are watching closely to see if FTM breaks below the 200-day SMA of $1.19. If indeed this happens, we could be looking at a strong decline, with some analysts looking at shocking intraday losses of nearly 30%.

Should you buy Fantom (FTM) right now

The truth is that market conditions are indicating a high risk-off attitude among investors. This is not the best time to invest. FTM and other altcoins may be affected by the current sell-off in equities. Therefore, it’s better to wait.

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Bitcoin

Bitcoin Price Watch: $85K Pivot Sets Stage for Weekend Fireworks

Bitcoin traded at $85,287 on Saturday, commanding a $1.69 trillion market capitalization while moving $10.68 billion across exchanges in 24 hours. During the session, the leading cryptocurrency by market cap roamed between $84,366 and $85,398, packing price tension into a narrow corridor that could ignite the next decisive break…
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MEXC launches STORY (IP) launchpool & airdrop+, offering 68,500 IP & 50,000 USDT in bonuses

MEXC, the world’s leading cryptocurrency trading platform, has announced the launch of its Launchpool initiative in collaboration with the renowned blockchain project STORY (IP). This initiative highlights the close partnership between MEXC and STORY, showcasing their joint efforts to expand the STORY network. By introducing two major events—a Launchpool featuring a 60,000 IP reward pool…


MEXC, the world’s leading cryptocurrency trading platform, has announced the launch of its Launchpool initiative in collaboration with the renowned blockchain project STORY (IP).

This initiative highlights the close partnership between MEXC and STORY, showcasing their joint efforts to expand the STORY network. By introducing two major events—a Launchpool featuring a 60,000 IP reward pool and an Airdrop+ offering 8,500 IP plus 50,000 USDT—this collaboration further accelerates the growth of the STORY network while driving innovation in the blockchain space.

MEXC Supports the STORY Network with the Launch of IP Launchpool

In the digital age, traditional intellectual property (IP) management faces growing challenges. Centralized platforms and complicated intermediaries often lead to inefficiencies, high costs, and trust issues for creators. As a Layer 1 blockchain built with Cosmos SDK, STORY combines DeFi and AI technologies to offer automated, transparent, and cost-effective IP management solutions. With full EVM compatibility and a modular architecture, STORY empowers creators to tokenize their IP assets, automate royalties, and simplify licensing processes. MEXC’s support of the STORY network highlights the growing importance of such innovations in blockchain. 

As a global leader in digital asset trading, MEXC consistently supports innovative blockchain projects. Its Launchpool initiative with STORY reaffirms this commitment. This collaboration not only strengthens the STORY ecosystem but also empowers global creators and developers to explore the potential of decentralized IP management. MEXC’s broad market coverage and strong liquidity offer the environment for blockchain projects like STORY to thrive and bring new possibilities to the digital economy. By allowing users to stake USDT, MX, and IP tokens to earn rewards, MEXC provides a platform for increased exposure and growth for STORY. Visit the STORY (IP) pre-market page to see this innovation in action.

Celebrate the IP Launchpool & Airdrop+ with a Prize Pool of 68,500 IP & 50,000 USDT

As a pioneer in the cryptocurrency industry, MEXC continues to foster innovation and support emerging blockchain ecosystems. MEXC is hosting two major STORY (IP) events: the Airdrop+ event, running from February 12, 2025, 10: 00 (UTC) to February 26, 2025, 10: 00 (UTC), featuring 8,500 IP plus 50,000 USDT in rewards, and the Launchpool, taking place from February 12, 2025, 10: 00 (UTC) to February 15, 2025, 10: 00 (UTC), with a 60,000 IP reward pool. These initiatives underscore MEXC’s ongoing commitment to advancing blockchain innovation and delivering valuable opportunities to the crypto community.

These activities include:

  • Event 1: IP Launchpool – Stake USDT, MX & IP to Share 60,000 IP
  • Event 2: Join Airdrop+ to Share 8,500 IP & 50,000 USDT bonus
    • Perk 1: Deposit and Share 5,600 IP (New User Exclusive).
    • Perk 2: Spot Challenge – Trade to Share 1,700 IP.
    • Perk 3: Futures Challenge – Trade to Share 50,000 USDT in Futures Bonuses.
    • Perk 4: Invite New Users and Share 1,200 IP.

MEXC continues to expand its market share in the centralized exchange space, leveraging its first-mover advantage in listing promising and valuable projects. As one of the leading cryptocurrency exchanges, with its commitment to innovation, user-centric approach, and strategic focus on early-stage token listings, MEXC remains at the forefront of the crypto industry, providing strong access to the rapidly growing blockchain ecosystem.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website X TelegramHow to Sign Up on MEXC


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Jailed BTC-e operator Vinnik released in US-Russia prisoner swap

US to release jailed BTC-e operator Alexander Vinnik in a prisoner swap with Russia. Vinnik, arrested in 2017, is part of the exchange that saw Russia release jailed US schoolteacher Marc Fogel. Alexander Vinnik, jailed in the US after being convicted on charges of money laundering, is being released as part of a prisoner swap.…


  • US to release jailed BTC-e operator Alexander Vinnik in a prisoner swap with Russia.
  • Vinnik, arrested in 2017, is part of the exchange that saw Russia release jailed US schoolteacher Marc Fogel.

Alexander Vinnik, jailed in the US after being convicted on charges of money laundering, is being released as part of a prisoner swap.

The former operator of the Russian crypto exchange BTC-e will head to Russia after the Kremlin reportedly agreed to an exchange involving US national Marc Fogel.

According to the BBC, the White House confirmed the prisoner exchange,with Trump having spoken to Fogel.The schoolteacher left Russia on Tuesday, Feb. 11.

Who is Vinnik?

Alexander Vinnik, 44, is a crypto kingpin that operated the Bitcoin exchange BTC-e. Authorities arrested Vinnik in 2017 in Greece, with the Department of Justice filing charges of money laundering involving nearly $4 billion.

According to prosecutors, Vinnik allowed cyber criminals to use BTC-e to launder and store proceeds of crimes, including crypto hacks, ransomware attacks and identity theft.

The Russian national’s reign at the helm of the exchange saw him promote the platform to perpetrators of these crimes. US authorities blamed him for the loss of $121 million.

Notably, New Zealand police also seized $90 million from the BTC-e operator.

Vinnik’s guilty plea in May 2024 meant he faced up to 20 years in prison.

The prisoner swap that sees him leave custody comes after his lawyers failed in a previous attempt to have included in other US-Russia prisoner exchanges. One such push involved the deal that saw Evan Gershkovich, a Wall Street Journal reporter formerly imprisoned in Russia, released.


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