Fantom (FTM) Jump to New ATH, After Announcement of Nansen Support
Smart contract platform Fantom’s native token (FTM) soared to new all-time high, after Nansen announced support for the network.
The price of FTM – the native token of the Fantom Network – went up surged to new price discovery. The price jump occurred after the announcement that data-analytics provider Nansen added support to it.
What is Fantom?
Fantom is a smart contracts platform using the Proof of Stake consensus algorithm and is based on Direct Acylic Graph technology – it’s also implemented by other projects such as Hedera Hashgraph and IOTA.
Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.
The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.
Fantom Price Jumps
In a press release, the Fantom team announced that data analytics provider Nansen, has added support for the blockchain.
Nansen is a blockchain analytics platform that enriches on-chain data with millions of wallets labels. Crypto investors use Nansen to discover opportunities, perform due diligence and defend their portfolios with our real-time dashboards and alerts.
DeFi Lama reports that the total value locked in Fantom is currently over $5 billion, with a massive jump over the past 24 hours.
As a result of both, the price of Fantom’s native FTM token has increased to new all-time high. At the time of writing FTM trades at $2.08, with 26% profit on a daily chart.
Following the integration, Fantom-based data will be visible on Nansen’s dashboards, making it more accessible.
Speaking on the matter, Fantom’s CEO, Michael Kong, said:
“Nansen analytics will bring visibility to innovative projects on the network and amplify their successes. We’re excited about the increased usage Nansen will bring to Fantom and to the incredible wealth of information that the analytics platform will make available.”
