Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Fantom (FTM): Price Updates, Recent Developments, Future Events, Community

CryptocurrencyOct 16, 2021 11:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Fantom (FTM): Price Updates, Recent Developments, Future Events, Community

  • Fantom is a fast, secure, and scalable blockchain with transaction fees as low as a fraction of a cent
  • The FTM incentive program has now been expanded to include developers working on GameFi projects
  • The Fantom network has grown by more than 1,500% in the last 8 weeks and now has over $4.91 billion TVL and 880,000 unique addresses
  • Fantom has sent a proposal to decentralized lending protocol Aave, to deploy Aave v2 on its network

As the adoption of cryptos increases, scalable blockchains have become one of the most talked-about topics. While Ethereum remains the market leader among blockchains that support dApps, projects like Fantom give the world’s second-largest crypto a good run for its money.

Fantom is a fast, secure, and scalable blockchain with transaction fees as low as a fraction of a cent. The project has become very popular among developers for its utility being EVM compatible.

Among the crypto community, Fantom is popular for being capable of performing thousands of transactions per second. So, how has this impressive project performed in recent times?

Recent Developments

In August, the Fantom Foundation launched a 370 million FTM incentive program to support development teams to build the next best dApp on the Fantom Network. On October 12, Fantom announced that the incentive program would include projects working on diverse GameFi models.

GameFi is the all-encompassing hub for game finance. This new concept combines decentralized finance (DeFi) and non-fungible tokens (NFTs) with blockchain-based online games. The Fantom Foundation revealed that although GameFi is still in its early stages, it believes it will be the future of entertainment and gaming.

Continuing to bridge projects, X.xyz launched on the Fantom network on October 13. X.xyz is a decentralized, community-owned NFT marketplace that allows users to easily collect and sell extraordinary NFTs.

On October 12, 88mph launched on Fantom, allowing users to earn a yield reward. 88mph differs from other yield farming protocols, as it offers a fixed yield rate on supported assets on Fantom.

On October 7, Nansen, a popular blockchain analytics firm, launched coverage to the Fantom blockchain. According to Nansen’s CEO, Alex Svanevik, although Fantom is still in its early days, its promising growth has made it the data site’s third network.

The total value locked (TVL) in DeFi projects has jumped nearly 10 times in 2021, with Fantom actively benefiting. As of the time of this writing, over $4.91 billion is currently locked in Fantom.

The total value locked in Fantom. Source: Defillama

Although the TVL in Fantom has dropped by 10.92% over the last 24 hours, the project has experienced explosive growth. On August 1, the TVL locked in Fantom was $313 million. In the last eight weeks, the network has grown by more than 1,500%.

According to the Fantom Foundation, the network now holds 880,000 unique addresses. In addition, Fantom has been completing 750,000 transactions per day, with more than 30,000 smart contracts deployed.

Future Events

Fantom Foundation has sent a proposal to Aave to deploy Aave v2 on the Fantom Opera (NASDAQ:OPRA) blockchain. Through the deployment, Fantom looks to expand the lending features of AAVE to the Fantom community and bootstrap the launch of Aave on a new ecosystem with the provision of incentives.

Price Updates

Fantom (FTM), along with the crypto market, has come under bullish pressure after a bullish first week in October. Over the last 24 hours, FTM has dropped by more than 4% and now trades at $2.007.

The 30-day price chart of Fantom (FTM). Source: Tradingview

Over the last 30 days, FTM has gained more than 45%, making it one of the top-performing cryptos in the period.

On CoinMarketCap, Fantom is ranked as the 36th largest crypto project with a market capitalization of $5.11 billion. Over the last 24 hours, $569 million worth of FTM has been traded, a drop of 37% from October 12.

On The Flipside

  • After hitting its all-time high of $2.45 on October 8, Fantom has retraced sharply
  • FTM’s price of $2.007 represents a 19% drop from its ATH five days ago

Community

The Fantom ecosystem is growing every day. On Twitter (NYSE:TWTR), Fantom has over 177.9K followers, over 27.3k members on Discord, 22.7K on Telegram, and 15.4K members on Reddit.

Members of the Fantom community are fondly referred to as Fantomians. The DailyCoin team discovered that Fantomians are great believers in the project. @theotherpomp wrote about Fantom:

Another user, @CaddersCrypto, wrote:

In addition, Fantomians are also bullish about the future of Fantom (FTM). Another Fantomian, @Tweak896, wrote:

Another Fantomian, @rootdubs, shared his opinion:

Why You Should Care?

Fantom is a fast-growing crypto project owing to its immense utility and multiple integrations. Given its fast transaction speeds, network growth, advanced smart contracts, and EVM compatibility, Fantom could be a solid cryptocurrency investment.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Fantom (FTM): Price Updates, Recent Developments, Future Events, Community
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Dr Ahmed Elgwady
Dr Ahmed Elgwady Oct 17, 2021 11:15PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
FAM reaching 200$ or over in two years.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email