{"id":213370,"date":"2022-01-29T07:00:37","date_gmt":"2022-01-29T07:00:37","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=213370"},"modified":"2022-03-11T15:31:07","modified_gmt":"2022-03-11T15:31:07","slug":"what-has-caused-fantoms-up-and-down","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/what-has-caused-fantoms-up-and-down\/","title":{"rendered":"What has caused  Fantom\u2019s up and down?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Since the beginning of 2022, <\/span><a href=\"https:\/\/www.footprint.network\/guest\/dashboard\/liquidation-dashboard-btc-fp-6f6d6f35-6173-479b-85d6-7b998c3ed06e?date_filter=past30days&channel=u-DBc983#secret=DC7146918FE4D654D3135A5A5F08D63F\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> has fallen from $68,000 to $34,000, taking almost the entire crypto market down with it. One exception, however, is Fantom, which has continued growing its TVL and surpassed Binance Smart Chain and <\/span><a href=\"https:\/\/www.footprint.network\/guest\/dashboard\/terra-dashboard-fp-93068a5f-8263-4538-9471-216c65d27ea5?date_filter=past30days&channel=u-DBc983#secret=2A850FDE1103F24E5A14A87453D572F5\"><span style=\"font-weight: 400;\">Terra<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s what caused Fantom\u2019s precipitous rise and the problems that might bring it down.<\/span><\/p>\n<h2><b>Fantom Intro\u00a0<\/b><\/h2>\n<p><strong>Concept<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Fantom is a fast, high-throughput, and easily scalable Layer 1 <\/span><a href=\"https:\/\/cryptoslate.com\/will-a-non-evm-overtake-compatible-chains-in-2022\/\"><span style=\"font-weight: 400;\">EVM<\/span><\/a><span style=\"font-weight: 400;\"> compatible public chain launched in December 2019. It is the first public chain supported by Lachesis,\u00a0 an aBFT (asynchronous Byzantine Fault Tolerance) consensus algorithm based on DAG (directed acyclic graph). Its most notable features are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Low transaction costs.<\/b><span style=\"font-weight: 400;\"> Only about $1 transaction fee for 10 million transactions.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Fast transactions. <\/b><span style=\"font-weight: 400;\">1-2 seconds to confirm a transaction.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>High throughput.<\/b><span style=\"font-weight: 400;\"> Tens of thousands of transactions can be processed simultaneously every second.<\/span><\/li>\n<\/ul>\n<p><strong>\u00a0Ecosystem\u00a0<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Fantom has deployed 135 protocols, covering\u00a0 DEX, yield, lending, assets, staking, minting, and derivatives. It is the fifth-largest public chain in terms of protocols, behind Polygon and Avalanche.\u00a0<\/span><\/p>\n<figure id=\"attachment_213372\" aria-describedby=\"caption-attachment-213372\" style=\"width: 899px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-213372 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/1-19.png\" alt=\"\" width=\"899\" height=\"417\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/1-19.png 899w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/1-19-300x139.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/1-19-768x356.png 768w\" sizes=\"(max-width: 899px) 100vw, 899px\" \/><figcaption id=\"caption-attachment-213372\" class=\"wp-caption-text\">Footprint Analytics &#8211; Platforms Per Category by Chains<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, Fantom's TVL is much larger than Polygon or Avalanche, indicating a highly promising ecosystem with much room for development.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In August, Fantom announced it would invest 370 million FTM to stimulate development on the chain.\u00a0<\/span><\/p>\n<p><strong>Financing<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Fantom has closed five strategic funding rounds and has received over $100 million in investments from top VCs including Alameda Research.\u00a0<\/span><\/p>\n<p><strong>TVL<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Fantom's TVL has reached 18.87 billion, surpassing Terra and Binance to become the #2 public chain. The biggest contributor to TVL are bridge projects, with 34.32%, followed by yield projects, with 23.83%. In terms of specific protocols, Multichain (formerly AnySwap) is way ahead of the rest.<\/span><\/p>\n<figure id=\"attachment_213375\" aria-describedby=\"caption-attachment-213375\" style=\"width: 546px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-213375 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/2-15.png\" alt=\"\" width=\"546\" height=\"327\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/2-15.png 546w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/2-15-300x180.png 300w\" sizes=\"(max-width: 546px) 100vw, 546px\" \/><figcaption id=\"caption-attachment-213375\" class=\"wp-caption-text\">Footprint Analytics &#8211; TVL Category Share of Fantom<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Fantom TVL's accumulation had two major rapid growth periods.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Phase 1<\/b><span style=\"font-weight: 400;\">: Between Sept. 21 to Oct. 11: it rose 856.5% to $10.24 billion, surpassing Tron, Avalanche, and Terra to become the fourth-ranked public chain, behind Ethereum, BSC, and Solana.\u00a0<\/span><\/li>\n<\/ul>\n<p><b>Reasons for rapid growth: <\/b><span style=\"font-weight: 400;\">AnySwap and Geist Finance are the major reasons that helped Fantom explode. AnyAwap, with the increase in demand for\u00a0 Bridges as public chains battle, contributed 43% of TVL to Fantom. Geist Finance's Staking attracted significant capital at 14,580% APY, locking in 34% of TVL for Fantom.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, Andre Cronje announced the migration of Yearn Finance to Fantom, which gave confidence to players to enter Fantom's DeFi project.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Phase 2: <\/b><span style=\"font-weight: 400;\">From Jan. 1 to present. It has risen 224% to $20.83 billion, surpassing Terra and BSC to become the second-largest public chain, behind Ethereum.<\/span><\/li>\n<\/ul>\n<p><b>Reasons for rapid growth: <\/b><span style=\"font-weight: 400;\">The main reason for this phase is the help of Cronje\u2019s influence. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On Jan. 1, Andre Cronje (founder of Yearn.finance) announced that he would release a new protocol on Fantom and then airdrop its token to the top 20 TVL DeFi protocols on the chain. The major DeFi protocols started to accumulate locked TVLs crazily, especially 0xDAO, which uses vampire attacks to<\/span> <span style=\"font-weight: 400;\">lock TVL<\/span><b>.<\/b><span style=\"font-weight: 400;\"> Eventually, Fantom TVL soared, surpassing Terra as the second public chain.<\/span><\/p>\n<figure id=\"attachment_213376\" aria-describedby=\"caption-attachment-213376\" style=\"width: 911px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-213376 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/3-15.png\" alt=\"\" width=\"911\" height=\"417\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/3-15.png 911w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/3-15-300x137.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/3-15-768x352.png 768w\" sizes=\"(max-width: 911px) 100vw, 911px\" \/><figcaption id=\"caption-attachment-213376\" class=\"wp-caption-text\">Footprint Analytics &#8211; TVL of Fantom<\/figcaption><\/figure>\n<h2><b>Investment Potential<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Fantom's token was issued at $0.02, with a high price of $3.28 and an ROI of 16,300%. The current price and market cap is not as high as other public chains\u2019 tokens, e.g. Terra (LUNA) and Solana (SOL).<\/span><\/p>\n<figure id=\"attachment_213377\" aria-describedby=\"caption-attachment-213377\" style=\"width: 909px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-213377 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/4-9.png\" alt=\"\" width=\"909\" height=\"423\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/4-9.png 909w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/4-9-300x140.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/4-9-768x357.png 768w\" sizes=\"(max-width: 909px) 100vw, 909px\" \/><figcaption id=\"caption-attachment-213377\" class=\"wp-caption-text\">Footprint Analytics &#8211; Trading Volume & Price of FTM<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, the rapid growth of Fantom has seen a turning point when the airdrop ended on 25th Jan. Why?<\/span><\/p>\n<p>Some thoughts on Fantom's current problems&#8230;<\/p>\n<h2><b>Over-reliance on celebrity influence<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Fantom has seen unbelievable growth in the last several months. However, it was almost entirely driven by Cronje's support. This leaves it vulnerable in case things do not pan out for him on the protocol.\u00a0<\/span><\/p>\n<h2><b>Lack of Ecosystem Attractiveness<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Furthermore, while its performance is good, there are not many new projects on Fantom.\u00a0 Any project ecosystem needs a constant flow of fresh new projects to keep growing.\u00a0<\/span><\/p>\n<h2><b>Fewer Validator Nodes<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Solana has 1,000 validator nodes and Terra has 100. Fantom has only 50, relatively few in Top's mature public chains. Which results in Fantom's relatively low global, leaderless, and trustless nature. It means that the decentralization is not high enough to attract DeFi protocols, which affects TVL. That's why Fantom needs to add validators nodes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In short, if Fantom wants to sit in the second or even the top position of the public chain, the above problems need to be solved in a good way.<\/span><\/p>\n<h2><b>What is Footprint Analytics?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Footprint Analytics is an all-in-one analysis platform to visualize blockchain data and discover insights. It cleans and integrates on-chain data so users of any experience level can quickly start researching tokens, projects and protocols. With over a thousand dashboard templates plus a drag-and-drop interface, anyone can build their own customized charts in minutes. Uncover blockchain data and invest smarter with Footprint.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Jan. 2022, Grace@footprint.network<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Data Source: Footprint Analytics <\/span><a href=\"https:\/\/www.footprint.network\/guest\/dashboard\/fantom-dashboard-fp-b07e41f7-a3ab-4f64-a7f8-3e1b3587632d?channel=u-DnmMUY#secret=344B78AD73FE8B02A87BEF46A18CD643\"><span style=\"font-weight: 400;\">Fantom Dashboard<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<ul>\n<li><a href=\"https:\/\/www.footprint.network\/?cnl=cryptoslate\">Footprint Website<\/a><\/li>\n<li><a href=\"https:\/\/discord.gg\/3HYaR6USM7\">Discord<\/a><\/li>\n<li><a href=\"https:\/\/twitter.com\/Footprint_DeFi\">Twitter<\/a><\/li>\n<li><a href=\"https:\/\/t.me\/joinchat\/4-ocuURAr2thODFh\">Telegram<\/a><\/li>\n<li><a href=\"https:\/\/www.youtube.com\/channel\/UCKwZbKyuhWveetGhZcNtSTg\">YouTube<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Since the beginning of 2022, Bitcoin has fallen from $68,000 to $34,000, taking almost the entire crypto market down with it. One exception, however, is Fantom, which has continued growing its TVL and surpassed Binance Smart Chain and Terra.\u00a0 Here\u2019s what caused Fantom\u2019s precipitous rise and the problems that might bring it down. Fantom Intro\u00a0 [&hellip;]<\/p>\n","protected":false},"author":828,"featured_media":213378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What has caused Fantom\u2019s up and down?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/what-has-caused-fantoms-up-and-down\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What has caused Fantom\u2019s up and down?\" \/>\n<meta property=\"og:description\" content=\"Since the beginning of 2022, Bitcoin has fallen from $68,000 to $34,000, taking almost the entire crypto market down with it. One exception, however, is Fantom, which has continued growing its TVL and surpassed Binance Smart Chain and Terra.\u00a0 Here\u2019s what caused Fantom\u2019s precipitous rise and the problems that might bring it down. Fantom Intro\u00a0 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/what-has-caused-fantoms-up-and-down\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/FootprintAnalytics\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-29T07:00:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-11T15:31:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/CN-179Fantom.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"670\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Footprint Analytics\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Footprint Analytics\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Footprint Analytics\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/what-has-caused-fantoms-up-and-down\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/what-has-caused-fantoms-up-and-down\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/footprint-analytics\/#person\",\"name\":\"Footprint Analytics\",\"url\":\"https:\/\/cryptoslate.com\/author\/footprint-analytics\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/footprint-analytics\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/footprint-analytics\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/footprint-logo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/footprint-logo-300x300.jpg\",\"caption\":\"Footprint Analytics\"},\"description\":\"Footprint Analytics provides API and visualization tools to uncover and visualize data across the blockchain, including NFT and GameFi data. 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One exception, however, is Fantom, which has continued growing its TVL and surpassed Binance Smart Chain and Terra.\u00a0 Here\u2019s what caused Fantom\u2019s precipitous rise and the problems that might bring it down. Fantom Intro\u00a0 [&hellip;]","og_url":"https:\/\/cryptoslate.com\/what-has-caused-fantoms-up-and-down\/","og_site_name":"CryptoSlate","article_author":"https:\/\/www.facebook.com\/FootprintAnalytics","article_published_time":"2022-01-29T07:00:37+00:00","article_modified_time":"2022-03-11T15:31:07+00:00","og_image":[{"width":1280,"height":670,"url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/CN-179Fantom.jpg","type":"image\/jpeg"}],"author":"Footprint Analytics","twitter_card":"summary_large_image","twitter_creator":"@Footprint Analytics","twitter_site":"@cryptoslate","twitter_misc":{"Written by":"Footprint Analytics","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/cryptoslate.com\/what-has-caused-fantoms-up-and-down\/#article","isPartOf":{"@id":"https:\/\/cryptoslate.com\/what-has-caused-fantoms-up-and-down\/"},"author":{"@type":"Person","@id":"https:\/\/cryptoslate.com\/author\/footprint-analytics\/#person","name":"Footprint Analytics","url":"https:\/\/cryptoslate.com\/author\/footprint-analytics\/","mainEntityOfPage":{"@id":"https:\/\/cryptoslate.com\/author\/footprint-analytics\/"},"image":{"@type":"ImageObject","@id":"https:\/\/cryptoslate.com\/author\/footprint-analytics\/#authorimage","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/footprint-logo-300x300.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/footprint-logo-300x300.jpg","caption":"Footprint Analytics"},"description":"Footprint Analytics provides API and visualization tools to uncover and visualize data across the blockchain, including NFT and GameFi data. 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