Fantom (FTM) price has been on the rise since Monday November 22 after it unveiled a partnership with 123swap decentralised trade.
Today, the price of FTM is up 10% to commerce at $2.38 with a 24-hour buying and selling quantity of $1,212,936,814.
What is Fantom
Fantom (FTM) is a decentralized and scalable platform that plans to beat the constraints of the present blockchain networks. The Fantom token holders can stake their holdings and earn staking rewards from the Fantom community.
Fantom works by recognizing the constraints of the present blockchains within the crypto world and planning on how one can overcome them. The FTM platform is decentralized, scalable, permissionless, and open-source with a bonus over different main blockchains.
Fantom lowers the associated fee whereas rising the efficiency of decentralized apps (DApps) by way of Lachesis, a directed cyclic graph (DAG)-based deterministic algorithm that runs the Opera mainnet of Fantom.
The most important function of the Opera mainnet is to allow the usage of sensible contracts by means of Ethereum’s EVM (Ethereum Virtual Machine), this may be seen as an evolution from the usual blockchain.
Fantom community is totally impartial due to this fact there’s one visitors congestion that doesn’t have an effect on some other a part of the community. This excessive degree of scalability gives each software with a personalised blockchain with customized governance guidelines, tokens, and tokenomics.
Why is Fantom (FTM) price rising?
Fantom and 123swap had introduced a new partnership earlier right this moment to boost the visibility of Fantom within the 123swap ecosystem.
The integration will make Fantom extra enticing as a potential asset concerned in swaps. 123swap is among the many platforms that enable cryptocurrency holders to swap their belongings simply.
Currently, this ecosystem is experiencing a substantial development spurt because the platform is including one or two outdoors blockchains weekly. However, it’s nonetheless at an early stage after its latest funding.
The constructive information from Fantom is encouraging. In the bi-weekly operational replace on Monday, Fantom stated that its complete locked values have risen by over 600% to $5.1 billion because the launch of its Incentive Rewards program for builders. However, final week it was revealed the entire each day transactions hit a new report of over 1.8 million.