Thanks to Fantom blockchain platform’s explosive popularity and increasing value, $FTM’s total market cap has exceeded $2 billion for the first time.
Sydney, Australia, May 03, 2021 (GLOBE NEWSWIRE) — As $FTM is expected to soon reach its all-time-high price of $0.815 per token, Fantom’s total market capitalization is now $2 billion. Fantom has recently seen significant growth, with hundreds of thousands of transactions now recorded each day compared to just a few thousand transactions each day earlier this year.
Fantom has established itself as a keen competitor in the blockchain platform industry, offering faster transactions and lower fees than its competitors. A number of exciting projects recently launched on Fantom are proof that developers increasingly trust and turn to Fantom as their preferred blockchain platform.
“We’re extremely excited to see developers building on Fantom and people using what they create. Initially, we saw household names from the Ethereum DeFi ecosystem deploying a second instance on Fantom; more recently, we witnessed a surge in people building natively on Fantom, which is a huge sign of confidence. Developers find it easy to build on Fantom, and people love the near-zero fees and instant transactions. The growing popularity created a network effect that pushed Fantom market cap past the $2 billion mark. It’s a major milestone for us.” says Michael Kong, CEO of Fantom.
Fantom’s market cap represents the total value of the FTM tokens by factoring the price of one token and the total number of circulating tokens. It’s a young and relatively small platform, but Fantom is gaining new and exciting projects every day.
The cryptocurrency market overall has enjoyed significant growth thanks to growing public interest in decentralized finance services. By early April 2021, the value of the market exceeded $2 trillion for the first time, according to news reports.
Fantom is committed to offering a superior user experience
Fantom was founded on the belief that blockchain transactions should be fast and low-cost for a more democratic future. It aims to make the best technology accessible to anyone who wants it.
While other platforms continue to offer sluggish transaction turnarounds and high fees, Fantom is finding new and innovative ways to shave its performance time to mere seconds and save developers money on transaction fees along the way.
The latest DeFi projects to join the Fantom platform are able to boost their asset diversity while enjoying lightning fast transactions at the lowest fees available. Projects including SushiSwap, Curve and C.R.E.A.M have deployed on Fantom thanks to the platform’s performance and scalability opportunities.
Recent network upgrades boost Fantom performance even more
With the launch of the Go-Opera upgrade in April, Fantom’s performance and reliability were dramatically improved, with the average transaction time to finality as fast as 1 second. You can learn more about Go-Opera here.
Now that the Go-Opera upgrade and migration are complete, Fantom offers users sub-second transaction confirmation times with one click.
Fantom is a fast, scalable, and secure smart contract platform.
The speed and low transaction costs make Fantom ideal for real world uses, such as payments, supply chain, and DeFi applications among the others.