Cryptocurrency

DeFi

Impact

Fantom

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/fantoms-rapid-progress-and-market-impact">Fantom’s Rapid Progress and Market Impact</a><br></p>
<p style="text-align: justify"> Cryptocurrency markets have recently experienced a period of adjustment with a pullback in prices, yet certain projects like Fantom (FTM) have maintained a positive trajectory over the past week. These developments raise questions about the potential growth of FTM’s value in future market upswings. </p> 
<h2 id="key-developments-in-the-fantom-ecosystem">Key Developments in the Fantom Ecosystem</h2> 
<p style="text-align: justify"> Subin An, a crypto data analyst from Hashed, has highlighted several key advancements within Fantom’s decentralized framework. Despite a decline in the trading volumes on Fantom’s decentralized exchanges since the DeFi summer of 2020, the network’s monthly active user base has consistently exceeded 400,000. </p> 
<p style="text-align: justify"> An points to the recent doubling of trading volumes on most DEXs operating on Fantom over the last week. This surge could herald a robust period for the ecosystem in the months ahead. The capability of the Fantom Foundation’s layer-1 solution to underpin such growth, as it has previously done, is a focal point of interest. </p> 
<h2 id="trading-volumes-indicate-rising-interest">Trading Volumes Indicate Rising Interest</h2> 
<p style="text-align: justify"> Fantom-based DEXs, such as SpookySwap, have recorded remarkable volume increases, with a notable 163.3% rise over the previous week, reaching a trading volume of $81.8 million. Other DEXs like Equalizer, Beethoven_x, and Curve have also seen their volumes surge by over 200%, which is an encouraging sign of vitality within the platform. </p> 
<p style="text-align: justify"> Fantom’s native token, FTM, has mirrored the ecosystem’s vibrancy, jumping from $0.3871 at the end of February to $1.1530 within a month, marking a 200% increase. This rally has broken through multiple resistance levels, reminiscent of the early phase of the last bull run which saw a staggering 2500% rise for the protocol within four months. As of the latest updates, FTM is priced at $1.07, showing a 3.5% increase and maintaining a bullish sentiment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/fantoms-rapid-progress-and-market-impact">Fantom’s Rapid Progress and Market Impact</a></h5>

Fantom’s Rapid Progress and Market Impact

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