The Fantom (FTM) cryptocurrency price has already doubled since the beginning of the year. Resurrection after a difficult 2022.
The price of FTM is still going up!
Since the beginning of 2023, the price of the Fantom cryptocurrency seems to be on the rise. After a delicate period, like the rest of the crypto market, FTM is rising from the ashes. Since January 1, the price of a digital asset has doubled, increasing by 102.80% over this period. The token is even showing excessive activity as the 24 hour volume is almost $400 million.
Source: CoinMarketCap
FTM is up another 7.50% today and is now trading at $0.41. The token chart is very positive, and the price at the beginning of the month at $0.20 now seems very far away. However, the asset is still down 0.88% from ATH in October 2021 at $3.48.
Is blockchain reborn?
In recent weeks, it seems that new features are needed for this blockchain, with the advent of Subsquid, but above all with the rollout of the “Storage Ecosystem”. This decentralized project, which aims to fund projects on the Fantom blockchain, seems to be reviving activity on the blockchain.
This new development marks another step towards decentralization with a fund to be funded by 10% transaction fees charged for activities on the FTM blockchain network. Moreover, it is the community that controls this new ecosystem by collecting fees and offering them to new startups built on the FTM blockchain. This fund will be able to incentivize the blockchain by optimizing the launch of new projects that can “qualify” for this assistance. Again, it will be up to the community to vote on which projects will receive this assistance.
The amount of assistance varies from one project to another depending on the duration of the program. On a turnkey basis for new startups, hundreds of thousands of FTMs or even millions of tokens for programs designed for several months.
Over the past 20 days, the blockchain has also gained momentum, with almost 9 million transactions carried out on the blockchain since the beginning of the year. In addition, the number of new addresses is in the thousands, with more than 50,000 addresses active daily.
Moral of the story: The return of some cryptocurrencies never stops!
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