Fantom, the scalable blockchain platform, has informed its users in its latest general update that the growth has been registered on its network. According to the update, Fantom saw an average of 820,000 transactions per day for the past three months.

With new addresses registering on the network during the third quarter, the unique wallet addresses on Fantom totaled 3.5 million. It added that all transactions completed on the network during the quarter cost a daily average gas fee of FTM 146 billion, representing a 9% jump from what was recorded in the second quarter.

FTM during the quarter

Also affected by Terra’s collapse in May, FTM spent the entire trading month following chasing lows. FTM fell 40% in June and started the third quarter with an index price of $0.25.

The first month of Q3 was marked by a significant recovery in the cryptocurrency market. The price of Bitcoin [BTC], increased by 17%. Similarly leading altcoin, Ethereum [ETH], registered a price increase of 57% in the 31-day period. Not left behind, FTM’s price also rose in July. The altcoin ended the trading month at USD 0.32, which was up 28% over the period.

The altcoin continued an upward trend to hit a price of $0.4091 on August 14, after which it has since started to decline. According to data from CoinMarketCap, where the hand was exchanged for $0.2347 at press time, the price per FTM fell by 73%.

At the current price level, FTM was trading below the price position it started the quarter with.

Source: CoinMarketCap

FTM on the chain

As the price of FTM hit several highs and lows over the past three months, the key holders of the asset reacted differently. While the number of holders of 1,000 to 10,000 FTM coins increased in the past three months, those who had between 10,000 and 100,000 FTM coins were distributed in the past 88 days.

In addition, the July rally caused the number of addresses to reach a high of 130 addresses with between 1,000,000 and 10,000,000. In addition, the price of FTM fell and the number of addresses on press time stood at 126 addresses.

Source: Santiment

In terms of daily active addresses on the network during the quarter, the highest number of daily addresses in the three-month period on July 21 was 1,118 addresses. The number of unique addresses trading FTM daily since then has steadily declined.

There were 98 at the time of going to press. With significant price swings during the quarter, a significant number of FTM holders posted losses. The 90-day market value to realized value (MVRV) was negative at -18.18%.

Source: Santiment

With the Mean Dollar Invested Age (MDIA) showing a sustained upward trend over the quarter, there has been some calm on the FTM network for the past 88 days.

Source: Santiment

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