spot_img
Sunday, May 22, 2022
More
    HomeAltcoinFantom (FTM) Hits A New All-Time High, Funding Rate Important Metric to...

    Fantom (FTM) Hits A New All-Time High, Funding Rate Important Metric to Watch

    -


    One Ethereum-Layer 1 competitor that’s been not too long ago within the information is Fantom (FTM)! Over the weekend, the Fantom (FTM) worth rallied all the best way nearer to $3.40 hitting a brand new all-time excessive. This comes on the backdrop of a strong 15% pump within the FTM worth on Sunday, January 16.

    As per on-chain information supplier Santiment, the FTM funding charge on platforms like Binance is popping adverse indicating heavy shorts. Nonetheless, these shorter have closely burned their fingers amid this strong worth rally. As information supplier Santiment reports:

    Fantom is edging near its $3.47 #AllTimeHigh, made again in late October. A sign to observe intently is $FTM‘s funding charge on exchanges like Binance. When going adverse, indicating many shorts, costs have tended to rocket upward. 

    Courtesy: Santiment

    One other main milestone that Fantom has achieved over the weekend is the variety of DEX transactions. On Saturday, January 15, Fantom ranked third in DEX on-chain volumes after Ethereum and Binance Good Chain. Apart from, Fantom has additionally managed to surpass giants like Polygon and Avalanche when it comes to DEX transactions.

    Fantom’s Defi TVL Shoots Previous $10 Billion

    The explanation behind the latest FTM worth rally can be the excessive DeFi exercise. The full worth locked (TVL) on the Fantom blockchain crossed $7.75 billion final week. This was a staggering 26% soar on a weekly foundation.

    Fantom is rising as a sooner competitor to different Ethereum Layer 1s as its leveraged the DAG-based good contract platform for DApps that makes it extremely scalable. Apart from, Fantom can be positioning itself as a less expensive and sooner different to different Ethereum Layer 1s.

    For e.g. Fantom takes solely 1s to switch cash with transaction prices as little as $0.0000001. Whereas on Ethereum, the common transaction time is 15 seconds and the common transaction price is $3.

    Fantom’s native token FTM will be helpful for numerous functions like staking, funds, and governance.

    Disclaimer

    The introduced content material could embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability in your private monetary loss.

    About Writer





    Source link

    Related articles

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    spot_img

    Latest posts