Fantom (FTM) Soars High Resistance in DeFi Frenzy

Estimated read time 3 min read

Crypto space is all over the media with the fantastic price gain of Fantom, a decentralized finance platform that has grown by 35.48% in a month and has attracted the crypto community. FTM’s meteoric recent performance has relit the DeFi scene and everyone is currently talking about it as experts and retailers discuss it.

Fantsom’s journey to leading ones is characterized by a range series of strategic partnerships and innovative developments. At the end of 2023, the platform announced its integration with the popular decentralized exchange (DEX) SushiSwap where users can perform a smooth swap and trade of FTM tokens on the platform. This action was believed to be a vote of confidence in the Fantom technology which subsequently contributed to the coins movement upwards.

Fantom Coin, Period:1Month Price Chart

We interviewed Michael Kong, Fantom Foundation CEO, to dig into the roots of this bull market trend. Kong said: “We have been working round the clock to create an ecosystem that is user-friendly and will satisfy the various requirements of our developer, business, and individual users.” “Recent price condition of FTM is an indicator of the confidence that our community has put in our mission of building robust and scalable decentralized finance (DeFi) framework.”

At the same time, Kong pointed out the development roadmap including the implementation of a cross-chain bridge and a DAO governance, that will contribute to the network use and adoption.

Furthermore, Emily Johnson a veteran FTM investor has her views on crypto appeal. What initially attracted me to Fantom was that it targeted the issues of scalability and speed that had been clogging other DeFi networks, she said. I admire the team’s commitment to innovation and the ambitious roadmap that has made me a devoted contributor to the Project.

As CoinGecko points out, a leading cryptocurrency data aggregator, the daily trading volume for Fantom surged to a remarkable $222,438,285 with a 48.70% increase. The massive trading volumes in the coin illustrate the rising sentiment of both institutional and retail investors towards cryptocurrency.

Fantom is a crypto that has recently gained popularity as it is currently the 49th largest with a market cap of $2,080,983,345. This is evidenced by the fact that there is a maximum supply of 3,175,000,000 FTM and this, combined with the circulating supply (88.30% of the total supply) leaves much room for future growth as well.

Along with the development of the cryptocurrency market, the initiatives that display cutting-edge solutions and are in direct interaction with their community are likely to get the upper hand. On the one hand, analysts recommend investors to keep calm and carry out a lot of research before they make a final decision.

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