As Bitcoin, Ethereum and other top alts are still trying to establish a clear-cut trend, Fantom’s price has been rallying. The aforementioned alt’s valuation has risen by 14% in the past 24-hours alone. Even on the weekly window, FTM has fetched its HODLers over 10% returns.
Fantom’s growth spurt
Fantom’s TVL that made rapid strides over the past few days has started fumbling now. At press time, this number was seen revolving around $5.12 billion when compared to its 9 November highs of $6.15 billion.
Well, liquidity draining out of the protocol is obviously not a very healthy sign. Nonetheless, when zoomed out and viewed, the macro-uptrend still remains in-tact. In fact, minor deviations like the one just observed are a part and parcel of any ecosystem’s growth-spurt phase.
Fantom’s growth phase has been marked by several tie-ups. Just a day back, for instance, Fantom’s partnership with 123swap was announced. 123swap is a platform that aids HODLers to swap their assets.
Crypto watchers believe, merely being a part of the 123swap ecosystem would increase Fantom’s traction and would make it more appealing as a potential swapping asset. This, in turn, could rub-off well on its price over the long term.
Further, Fantom uses a technology called DAG – Directed Acyclic Graph. That, in itself, is an added advantage for the protocol as it tends to improve both speed and efficiency.