Fantom Coin is Going to Zero After Multichain Bridge Hack but Crypto Whales are Accumulating This Other Coin Instead – Just 10 Days Left

cryptonews.com:

The price of Fantom Coin (FTM) has dived by 11% in the past 24 hours, after a hack of Fantom's Multichain bridge resulted in a loss of cryptocurrencies worth upwards of $126 million.

At $0.266907, FTM is now down by 14% in a week and by 10% in the last 30 days, with the altcoin remaining up by 33% since the beginning of the year.

However, with certain commentators advising holders to take their assets out of the Fantom ecosystem, the hack could result in sustained losses for FTM, which would suffer severely from an exodus of users.

Of course, there are alternative altcoins to invest in for traders looking for assets with more potential, with Thug Life Token (THUG) raising expectations of a strong listing after its presale reached a new milestone today.

Unsurprisingly, FTM's chart and indicators are in a real position of weakness, and looks as though there's still plenty of pain left in store for it.

For one, FTM's 30-day moving average (yellow) has begun falling towards its 200-day average (blue), and while it seems very likely that it will fall all the way below the longer-term indicator, it still has some way to get there.

FTM's relative strength index (purple) is also very weak right now, with its level (under 30) indicative of strong selling pressure, with the metric showing little signs of improving in the near future.

Indeed, the altcoin's support level (green) is perhaps the most alarming feature here, with it dropping to new lows and suggesting that a big selloff is underway.

As mentioned above, the reason for this selloff is a major hack of Fantom's Multichain bridge, which normally enables users to transfer assets from one chain to another.

However, it has just fallen foul of a serious exploit, which has resulted in