Fantom (FTM) token has been on a roll. The cryptocurrency skirted close to its all-time high which lies at a price level of $3.48 – indicating strong bulls – just a couple of days ago and while the price movement suggests brief corrections, the outlook is favorable as the token is trending. The daily price movement shows a steep incline followed by minor corrections and then the resuming of the uptrend. The daily high and low lies at $3.03 and $2.78 respectively while the cryptocurrency is trading at a price level of $2.91 at the time of writing. The price has increased by 5% during the day along with the daily trading volume. Fantom is currently the twenty-sixth largest cryptocurrency in the market.
What is going on in Fantom’s ecosystem?
The two weeks in 2022 have been buzzing with activities for the Fantom network. The cryptocurrency has undergone many developments in the form of partnerships, updates, etc. The network’s on-chain governance also went live during January. These activities have been fueling the upside momentum for the cryptocurrency and resulted in a steep spike. The Total Value Locked (TVL) of the network crossed $7 billion amidst these developments – a hallmark moment for Fantom.
Multichain (previously Anyswap) has been bringing an unparallel level of cross-chain interoperability to blockchains. FTM has been one of the newest additions to its quickly-expanding list. Now, through Multichain, assets can be swapped to and from Fantom. The cross-chain interoperability was furthered by FundMovr – an aggregator for DEXes and DeFi.
The projects on the network have also been gaining traction and there has been some major headway in that regard. Projects in DeFi to DEX and much more have been cooking. Recently, Hundred Finance also announced the launch of one of its products, Backstop Automated Market Maker, on the Fantom.
Apart from interesting products and projects, the network is also onboarding partners to expand its scope and userbase. A recent addition is Shopping.io. The leading cryptocurrency e-commerce platform integrated the FTM network enabling FTM token holders to use their tokens to buy and sell on leading online retailers like Amazon and eBay.
But there’s more! A new automated market maker which is aimed at protocols names Ve (3.3) is also currently under development and there will soon be a token airdrop to projects based on Fantom with the Total Value Locked being the criteria.
