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Fantom Rises 10% As Rest of Market Stays Quiet Ahead of Bitcoin ETF Launch By CoinQuora

by Mike Robinson

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© Reuters. Fantom’s Rise to 10%, While the Rest of Market Keeps Still Quiet in Advance of Bitcoin ETF Launch
  • Fantom, a competitor, has seen a 10% increase in overnight sales.
  • An increase in the market ahead of the U.S. Future Exchange Tradeable Fund’s launch.
  • Fantom Foundation announced the “Biggest DevCon” in Abu Dhabi, UAE.

Fantom (FTM), has seen a 10% increase in price overnight. Moreover, the Ethereum competitor Fantom’s rise is bucking the trend. Other top cryptocurrency markets have stagnated over the week that followed, with an increase in the market ahead of the US launch of the first Bitcoin Future ETF.

At the same time, Bitcoin increased by 10% in the past week to $60,804 but hasn’t pushed over the weekend. FTM is still on the right track. At the time of writing, Fantom’s price is at $2.23 and still 22 cents shy of its all-time high of $2.45, and placed at rank 35 on CoinMarketCap.

On the other hand, Fantom Foundation announced the “Biggest DevCon” in Abu Dhabi, UAE, on October 25 – 29, 2021. Fantom DevCon was open to all levels of expertise and builders.

Fantom Blockchain is an open-source platform for developers that allows them to build all types of decentralized apps (dApps). The platform is especially popular with developers who are involved in decentralized finance (DeFi) projects.

DeFi Llama data shows that Fantom has been used to build more than 40 projects. The total value locked (TVL), has risen to $5.57 trillion. It is notable that it is an impressive number, considering Fantom’s relatively recent platform.

Fantom, a directed-acyclic graph crypto (DAG) was launched by Hedera Hashgraph in 2018. The history of blockchain is saved as a graph with hashes. Since September last year, however, the network has seen an explosion in growth. As a result, FTM holders are not refusing, hoping they’re onto an Ethereum killer.

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