• As the rally continues, Fantom reaches a new all-time high

  • Fantom has reached new highs as the race to secure a spot in the multi-chain future heats up.

    Price Discovery

    Fantom has just reached a new all-time high.

    The Layer 1 network has maintained its multi-week rally, peaking at $2.48 on Tuesday morning.

    The launch of a new cross-chain bridge may have fueled the run to new highs. SpiritSwap, a leading Fantom decentralized exchange, has launched a multi-chain bridge that allows users to send assets between Binance Smart Chain, Ethereum, Polygon, and Fantom. SpiritSwap’s SPIRIT token has also increased in value today.

    While the list of available assets varies depending on the network pairing, the bridge supports major stablecoins like DAI, USDT, and USDC, as well as ETH, MATIC, BNB, and many others. SpiritSwap’s multi-chain bridge will make it easier to transfer assets to Fantom, encouraging users to take advantage of the network’s new yield farming opportunities.

    Several highly anticipated Fantom launches in the last month have fueled the company’s meteoric rise. The network’s FTM token has increased by more than 82 percent in the last 30 days, with the network’s expansion of DeFi playing a significant role. Geist Finance, a lending and borrowing protocol, launched on Fantom at the beginning of the month, driving the FTM token up 36%. Yearn.Finance then announced that it would be expanding to the Fantom network, raising prices even further.

    Fantom is one of several Layer 1 tokens that have experienced rapid growth this year. Over the summer, Solana, Avalanche, Terra, and Cosmos all rallied amid growing belief in a multi-chain future, with generous liquidity mining programs and airdrops attracting users to their ecosystems.

    However, with Bitcoin currently dominating the market, other Layer 1 tokens are gradually recouping the gains made in August and September. Fantom has defied expectations by breaking out higher and setting new all-time highs.

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