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10 May 2021

ABBC Coin, AAVE and Fantom (FTM) rally higher after partnership announcements

ABBC Coin, AAVE and Fantom (FTM) rally higher after partnership announcements

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The token has surged from $0.12 on April 21 to a high at $0.42 today, a 250% rally in nine days.

If the price turns down from this zone, the pair could correct to the 50% Fibonacci retracement level at $0.27.

A bounce off $0.27 will suggest that bulls are buying the dips.

Fantom (FTM) announced on April 28 that HyperChain Capital, a digital assets management company, has invested $15 million in the Fantom ecosystem through the purchase of FTM tokens.

Fantom has announced tie-ups with SuperFarm, Clover, and Orion Protocol in the past few days, which are likely to strengthen its offering in the decentralized finance and non-fungible token space,.

On April 5, Fantom announced that its technology will be used by the Afghanistan Railway Authority to increase efficiency and transparency.

That was followed by the announcement of a pilot with the Pakistan Punjab Prisons Department on April 13, where Fantom will implement custom blockchain Enterprise Resource Planning software.

From there, the VORTECS™ Score consistently remained in the green and FTM rallied to a high at $0.70 on April 29, netting the traders a 150% return in about four days.

FTM has risen from an intraday low at $0.33 on April 23 to an intraday high at $0.73 today, recording a 121% return in seven days.

If the pair rebounds off this level, it will suggest that bulls are accumulating on dips.

To do that, AAVE launched a liquidity mining program on April 27, which is likely to increase borrowing and lending activity, attracting more investors.

The liquidity mining has been introduced only on Aave V2, which may lure investors to migrate from the protocol’s version 1 iteration that still holds a sizable portion of the total value locked.

The token rallied from $314.75 on April 25 to an intraday high at $486.71 on April 28, rising 54% in four days.

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