Triaconta Weekly $188
The following topics will be addressed in this weekly.
- Bundle performance
- Winners & Losers
- What is Fantom?
November is off to a good start for all bundles. This is turning out to be a fantastic year despite the big (50%) drop in May and June. The total crypto market started 2021 just below $1 trillion, soared above $2 trillion this summer and is now well on its way to the $3 trillion milestone (currently $2.72 trillion). Expectations for DeFi remain high for this last quarter. And that’s even more true of #1 Bitcoin, which pretty much everyone expects to go through at least $100,000 before the end of the year.
1 Month: +23.66% | 7D: +5.86% | 24H: -0.45%
1 Month: +14.52% | 7D: +10.37% | 24H: +0.73%
1 Month: +19.16% | 7D: +11.94% | 24H: -1.37%
1 Month: +12.24% | 7D: +13.50% | 24H: +2.92%
Winners & Losers
NEM (+32%) seems to have found its way up again today and OMG Network (+30%) is also rising further this week. Ontology (+23%) and Pennystock Ravencoin (+20%) are doing fine, as are Polkadot (+20%), Enjin coin (+19%) and Maker (+19%). Celer network, Ren and Dogecoin are dropping 10% this week.
What is Fantom?
Fantom is a highly scalable and fast layer-1 (own network) solution that supports DeFi, DApps and business applications. There are currently more than 40 projects running their dApps on the Fantom blockchain with a combined value of over $5 billion. Fantom keeps costs low and performance high with Lachesis – a DAG-based asynchronous non-deterministic algorithm that processes transactions on Fantom’s Opera mainnet. The main goal of the Opera network is to enable the use of smart contracts via Ethereum’s EVM (Ethereum Virtual Machine), but without the congestion and high fees of the current Ethereum network. Due to the DAG technology, the Opera network is fully scalable and heavy traffic when using one of the apps has no influence whatsoever on the speed of other apps.
Fantom’s scalable smart contracts are used in payments, loans, smart city programs and provide transparency in supply chains. Active projects on Opera (https://projects.fantom.network/ ) are Geist Finance (loans), SpookySwap (swaps), Curve (Dex/Amm), Scream (loans), Beefy Finance (multi-chain yields), Tomb finance (stablecoin) etc.
Fantom partners with Chainlink and Band for oracles with reliable real-time data from the real world. Fantom developers can use The Graph and Covalent to easily and quickly access information stored in other blockchains. Connections to the Fantom network itself for Web3 developers are now possible via Ankr and integration of API3 (dApps standard for Web 3.0) into the Fantom blockchain is planned.
FTM’s total supply is 3.175 billion tokens, of which over 2 billion FTM is currently in circulation. The rest will be released on a schedule that will run until 2023. The FTM token price has been very predictable so far with a new all-time high followed by a correction to the previous high and then a rise to a new high. Check it out, In August and early September the price rose to a new all-time high of €1.60. Then a 50% correction in mid-September to the previous May high. Then it rose again with a new high of €2 in October, followed by a correction to the €1.60 high in September. Then it climbed again to $3 which yesterday corrected to the $2 high of October 8 and if we continue this trend we would now be moving up again to an unknown higher price. Strangely enough, Fantom is not yet listed on the largest American exchange Coinbase, which is obvious with a top 30 ranking and usually good for a significant one-time increase in the price. Risks to the price lie mainly in the competition with Ethereum 2.0, which will also use proof of stake for fast transaction processing at low costs and has many more apps and developers committed to it.