Fantom's Largest Exchange Wallets Have Quickly Dropped in Favor of Larger Non-Exchange Wallet Holdings

🎭 #Fantom has quietly enjoyed a mini bounce the past 3 days while the $FTM crowd has stayed relatively quiet. However, behind the #onchain curtains, what may be contributing is the huge surge of whale wallet coins moving off exchanges and into non-exchange wallets (potentially a mix of self custody, defi, and staking).

There was a massive flip of coins on #XmasDay, and this trend has only gained momentum. As long as the outflow trend from major exchange wallets, there is theoretically a #bullish argument that should continue to develop and imply a larger bounce could be around the corner.

Note the top 15 wallets on #Fantom, below in the screenshot, according to FTMScan, as they are unique in nature. Specifically, the SFC wallet holding 82.5% of the supply, #WrappedFinance wallet holding 6.2%, and foundation wallet holding 4.0%. These special wallets that have particularly large impacts.

Explore the chart on Santiment!