{"id":526580,"date":"2023-04-12T10:33:49","date_gmt":"2023-04-12T10:33:49","guid":{"rendered":"https:\/\/uniquehot.com\/?p=526580"},"modified":"2023-04-12T10:34:34","modified_gmt":"2023-04-12T10:34:34","slug":"fantom-transaction-fees-hit-6-month-high","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/fantom-transaction-fees-hit-6-month-high\/","title":{"rendered":"Fantom Transaction Fees Hit 6-Month High – Exploring Price Impact Of The Surge"},"content":{"rendered":"
The efforts of Fantom to enhance its network for dApp deployment are paying off as it achieves a six-month high in transaction fees collected. The surge in fees has fueled a notable increase in the price of FTM, leaving many wondering if this growth can be sustained.\u00a0<\/span><\/p>\n At the time of writing, FTM is on the rise with a 0.9% rally in the last 24 hours, currently trading at a price of $0.479712, <\/span>according to Coingecko<\/span><\/a>. This positive momentum has carried over the past seven days with an impressive 8% rally, indicating a growing interest and confidence in the blockchain platform’s potential.<\/span><\/p>\n With exciting developments on the horizon, the future looks promising for the innovative blockchain platform.<\/span><\/p>\n Fantom\u2019s\u00a0 cumulative value of fees collected in the last week surpassed $180,000, marking the <\/span>highest since November<\/span><\/a> and indicating a significant surge in trading activity on the platform. This growth has also been reflected in the price of FTM, which rose by over 6% in the last week.<\/span><\/p>\n $FTM<\/a> just experienced the largest spike in generated fees in over six months.<\/p>\n Few people understand how much Fantom has going for it. pic.twitter.com\/KZ0gQ4fKn1<\/a><\/p>\n \u2014 Emperor Osmo\ud83e\uddea (@Flowslikeosmo) April 10, 2023<\/a><\/p><\/blockquote>\n A key factor behind this growth in transactions could be attributed to Fantom’s decentralized finance (DeFi) ecosystem. Data from DeFiLlama reveals that SpookySwap, the largest DEX on the chain, experienced a total value locked (TVL) growth of more than 8% in the last 30 days.\u00a0<\/span><\/p>\n Meanwhile, Equalizer Exchange, which contributed over 8% to Fantom’s TVL, also saw remarkable success, with its growth rate standing at 32.44% at press time and a solid 18% growth in the last week alone.\u00a0<\/span><\/p>\n The success of these DEXs is a testament to the thriving DeFi ecosystem on Fantom’s blockchain, which could further drive the platform’s growth and popularity.<\/span><\/p>\n Despite the optimistic sentiment surrounding Fantom’s FTM due to its strong price action and growing DeFi landscape, there are some concerns about the network’s growth. <\/span><\/p>\n Recent data shows that <\/span>development activity has dropped<\/span><\/a> considerably, which could potentially delay important upgrades in the near future.<\/span><\/p>\nFantom DeFi Ecosystem Drives Growth In Transactions, Price Surge<\/strong><\/h2>\n
\n
FTM’s Price Action, DeFi Growth Impress Investors But Dev Activity Drops<\/strong><\/h2>\n