Fantom (FTM) ends week as most profitable top 100 crypto, here’s why it surged big
Phantom’s native blockchain token, FTM, is up 31% and continues to grow for the week. The reason for such a huge positivity in the price of the crypto asset could be the recent clarification on the finances of Phantom by the project founder, Andre Cronje, a well-known DeFi developer.
As reported by U.Today, Fantom’s financial estimate is about $350 million, which should be enough to sustain the project for another 30 years. In addition, this data gives the right connotation for comparison with other metrics that determine the price of FTM.
Thus, comparing the size of Fantom’s holdings with FTM’s current market capitalization of $600 million and the total value locked in the project of $460 million makes it easier to make an investment decision.
Preparing for game’s main boss
Cronje has also not refused to seize the opportunity of the FTM price spiking, stating in his tweet that it will become the YouTube or Twitch of blockchain platforms. In addition, an important ballot proposing to reduce FTM burning and to hand over 15% of savings on rewards to decentralized app developers has been launched.
It seems that the project has renewed interest in itself, which subsided after the same Cronje left in March of this year. Time will tell whether Phantom will eventually be able to take a significant share of the market from Ethereum, but close work is already underway in this direction.
