Fantom was the second blockchain with the highest active addresses in the past seven days.
FTM risked a price drop due to the dump of its realized capitalization.
After the earlier cancellation by part of the crypto community, Phantom [FTM] seems committed to proving how relevant it is to the ecosystem. In the last quarter of the previous year, Fantom witnessed remarkable comebacks. The restoration made the open-source smart contract platform a standout roadmap for 2023.
Realistic or not, here it is The market cap of FTM in terms of BTC
It may now appear that the proceeds from his 2023 plans have already been set in motion. This inference was the result of the performance of the active addresses.
According to data from Nansen, the seven-day active addresses recorded by the Fantom blockchain were 5.81 million. Only the Binance Coin [BNB] chain was able to surpass FTM’s performance in that regard with 5.94 million. Others, including Solana [SOL]and Polygon [MATIC] failed to comply with public instructions on their respective blockchains.
A glimpse of the FTM chain
The increase in the number of active addresses explains that on January 11, FTM was the second blockchain with the most unique deposits. But deposit activity wasn’t the only force behind Fantom’s uptick.
According to Santiment, FTM trading volume is also up 94% in the past 24 hours. This caused the trading volume to reach $159.17 million. The circumstances surrounding the volume suggested that the number of FTM units traded within one day was at a high level.
In addition, the chain’s development activity began to ramp up since January 8. As of this writing, it has maintained upward momentum to 0.71. The condition of this statistic reiterated the commitment of the Fantom team to achieve greater adoption of the project.
Amidst the achievements, Fantom also received kudos for the seamlessness of its network. Blake Hooper, the co-founder of the decentralized Equalizer exchange, encouraged more developers to build on Fantom. He said,
“As founder of Equalizer, I can confirm how nice it is to operate on the network. Also for anyone thinking about building on FTM, Fantom is very supportive and great to work with.”
Is your wallet green? look at the Fantom profit calculationr
Down in the subway station
As for the 30-day limit realized, Santiment revealed that Fantom fell back in that regard. At the time of writing, the limit realized in the past month had fallen sharply to 32.91 million.
The realized cap acts as an alternative to market capitalization. It is obtained by multiplying the current Fantom price by the number of FTMs in circulation. A huge drop implies resistance to optimism and a decrease in network activity.
In the future, this could extend to the FTM price, dragging it down the charts. However, the network realized gains and losses and could make up for the setback if it maintains its positive attitude over an extended period of time.
This post Active addresses intrude into the Fantom residence; what is the future for FTM
was published first on https://ambcrypto.com/active-addresses-troop-in-to-the-fantom-residence-what-is-next-for-ftm/