The crypto-market is rife with competition, and the appearance of DeFi has only exacerbated the situation. Fantom, on the other hand, has remained unfazed by the ups and downs of the last few months. As a result, it has carved out a place in history for itself and its community.
Fantom creates history…
Not once, but twice in the span of 24 hours. Two historic achievements were made by the network two days ago –
In terms of Total Value Locked, it surpassed Polygon (TVL) It surpassed the milestone of 100 million transactions.
Furthermore, the network is only 50k wallets away from reaching 1 million wallets. And, as a result of the excitement generated by this news, the blockchain added more than $600 million to its DeFi TVL to acquire Polygon within 48 hours.
In fact, the TVL was still rising at the time of publication, up 8.2 percent in just 24 hours.
Furthermore, the rate at which the network conducts transactions on a daily basis propels the network forward. It is not slowing down anytime soon, with over 750k transactions per day.
The network recently added the Kyber DEX to improve liquidity for token swaps.
On the same day, TrueUSD was added to Fantom to improve the network’s transactional capabilities between traditional finance and the DeFi market.
Fantom’s hype and investor base are so strong that Summit, a DeFi protocol, increased its TVL tenfold in just 24 hours to pass the $10 million mark from $1 million.
Is there any good news to report on the investment front?
The price action reflected the wave of positive developments. These updates played a significant role in this week’s 31.16 percent increase. In fact, the cryptocurrency increased by 13.81 percent in a single 24-hour period.
While investors are taking advantage of this opportunity, different cohorts are reacting differently.
The Mean Coin Age metric, for example, discovered a 10-day accumulation trend in the market. This is how the majority of retail traders may act.
This makes sense because whales and those with larger wallets have been consistently moving or even selling their FTM for quite some time.
Regardless, realized profits are at a two-month high, and the network appears to be in good shape.