Fantom’s own FTM token has seen a strong rally in the market over the past week, with the move accelerating further over the past 24 hours as the price approaches the key $ 3 mark for the first time since November.
At 14:32 UTC on Tuesday, the FTM was $ 2.96, up 15% in the past 24 hours and nearly 35% in the past 7 days.
These moves followed a sharp reversal of the overall bearish trend to bullish around December 20, causing the price to rally from $ 1.3 that day to a daily high close to $ 3 today, with gains of over 120%.
The FTM’s all-time high was $ 3.48, reached on October 28 last year.
90 Day FTM Price:
The recent strong price hike is due to increased activity on the Fantom network.
According to DeFi Llama data, the total blocked value (TVL) on the blockchain platform hit a new all-time high on Tuesday, with a total of $ 5.86 billion now deployed in decentralized finance (DeFi) protocols on Fantom.
Total Fantom Locked (TVL):
Fantom’s current TVL means it is now one of the leading blockchain platforms from TVL, outperforming Tron (TRX) with $ 5.26 billion TVL, but still significantly behind Solana (SOL) with $ 11.55 billion. USA.
In addition, data from blockchain researcher Fantom FTMScan today showed that the number of unique addresses in the blockchain grew steadily throughout the second half of 2021. As of January 3, there were 1.53 million unique addresses on the network, with 12,261 new addresses being added, which is one day.
Fantom and other blockchains with smart contract functionality have received more attention over the past year, as high transaction fees have made the base layer of the Ethereum (ETH) network prohibitively expensive for some DeFi activities.
If second-tier solutions for Ethereum do not receive the necessary support, high transaction costs will increase activity in alternative [блокчейнах уровня 1]such as Solana, Avalanche, Fantom and Polygon like Crypto Research Firm Warned In November Delphi Digital .
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