Fantom's price is on fire today after surging by as much as 30% in 24 hours. This comes as Nansen announced support for the network.
The price of FTM – the token behind the popular Fantom Network – has soared by as much as 30% today. This happened following the announcement that data-analytics provider Nansen added support for it.
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.
In a press release from today, the team announced that Nansen – a well-known data analytics provider, has added support for the blockchain.
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 by as much as 30% today, before retracing to where it currently trades:
FTM/USD. Source: TradingView
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.
Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn
