The cryptocurrency alternate FTX has been specializing in the Fantom ecosystem through the first month of the yr. Two weeks in the past they listed FTM to start buying and selling, and now they help their mainnet referred to as “Opera”.
— FTX – Constructed By Merchants, For Merchants (@FTX_Official) January 18, 2022
Fantom is another blockchain of Ethereum, based by The Fantom Basis in 2018, which launched the Fantom Opera mainnet in December 2019.
“Fantom is a quick, high-throughput open-source sensible contract platform for digital property and dApps,” The Fantom Basis says on their official website.
FTM is the native token of the Fantom community, it’s used for staking, governance, funds, charges, and it’s the twenty fifth largest cryptocurrency by market capitalization, in accordance with CoinMarketCap.
What Is FTX, and Why Is It Necessary That FTX Help FTM’s Mainnet?
I’m positive you’ve got heard about FTX earlier than, particularly due to the massive partnerships they made in 2021, like with the MLB and the naming rights of the Miami Heats enviornment.
FTX is among the most identified cryptocurrency exchanges, based in 2018 by co-founder and CEO of the alternate Sam Bankman-Fried. One among FTX’s distinctive options is the “Tokenized Stocks”, the place you may commerce at any time a inventory, for instance of a large tech firm like Amazon.
The alternate makes use of its official token FTT as a way to provide you with advantages for those who maintain it and commerce it inside the alternate, like for instance having much less buying and selling charges.
FTX supporting the FTM opera mainnet is a giant factor as a result of now you can deposit and withdraw Fantom community tokens to/from the alternate, for instance utilizing Fantom’s fWallet.
Will This Information Push FTM’s Worth Up?
FTM has been on a fairly good run within the final week, having +20% positive aspects within the final seven days and reaching a brand new all-time high of $3.30.
In the present day, FTM is buying and selling at $2.86, being down 13% of its ATH, on the time of this writing. FTX supporting Fantom’s mainnet seems to not be reflecting on FTM’s worth however is discovering help at $2.80.
Normally, when a brand new ATH is reached, it comes after a correction part which is the place FTM is, but when excellent news retains coming surrounding its ecosystem, in all probability the uptrend rally will proceed.