Fantom’s DEX Sees Significant Increase in Trading Volume

One sentence summary – Fantom’s decentralized exchange (DEX) has seen a significant increase in trading volume, largely driven by SpookySwap, resulting in a 1302.7% surge in volume compared to the previous week, while the closure of SpiritSwap has not hindered the total value locked (TVL) in the Fantom protocol, which has experienced an 8.34% increase over the past 30 days, indicating a regained trust from market participants and a positive outlook for the future of Fantom and its ecosystem.

At a glance

  • Fantom’s decentralized exchange (DEX) has seen a significant increase in trading volume, reaching $143.1 million in the last week.
  • This marks a 1302.7% increase compared to the previous week.
  • SpookySwap, an automated market maker (AMM) within the Fantom ecosystem, has played a major role in driving this surge.
  • SpookySwap has become the ninth-highest fee earner in the decentralized finance (DeFi) landscape, with a remarkable increase of 181.50% in generated fees.
  • Despite the closure of SpiritSwap, Fantom’s total value locked (TVL) has slightly improved, indicating regained trust in the protocol.

The details

Fantom’s decentralized exchange (DEX) has seen a significant increase in trading volume over the past week.

The volume has reached $143.1 million, marking a 1302.7% increase compared to the previous week.

This surge in volume is largely attributed to the role played by SpookySwap.

SpookySwap is an automated market maker (AMM) that operates within the Fantom ecosystem.

The platform has seen a remarkable rise in generated fees, with an increase of 181.50%.

This increase has propelled SpookySwap to become the ninth-highest fee earner within the decentralized finance (DeFi) landscape.

The growing prominence of the platform suggests that users are recognizing its value and actively participating in its ecosystem.

TVL Increase and Trust Regained

Interestingly, despite the recent closure of SpiritSwap, another DeFi platform on Fantom, the total value locked (TVL) in the Fantom protocol has seen a slight improvement.

Over the past 30 days, the TVL has experienced an 8.34% increase.

This increase indicates that market participants are regaining trust in the protocol.

The increase in Fantom’s TVL could also be bolstered by the protocol’s growing development activity.

Developers have shown a strong commitment to enhancing the network.

This commitment is evidenced by the rising trend in development activity.

This trend indicates a positive outlook for the future of Fantom and its ecosystem.

Social Dominance and Potential Growth

In addition to this, Fantom has witnessed a surge in its social dominance.

This surge suggests a growing hype and attention surrounding the platform.

The increased social dominance signifies heightened interest from users and investors.

This interest could potentially drive further growth and adoption of Fantom’s offerings.

In summary, Fantom’s DEX volume has experienced an extraordinary surge, reaching $143.1 million in the last seven days.

This is a 1302.7% increase from the previous week.

SpookySwap has played a significant role in driving this surge, with a notable increase in fees generated.

Despite the closure of SpiritSwap, Fantom’s TVL has slightly improved.

This improvement reflects a regained trust from market participants.

The protocol’s increasing development activity and growing social dominance further underline the positive trajectory of Fantom and its ecosystem.

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A graph with an upward trendline representing the trading volume on Fantom’s DEX.

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– Fantom’s DEX volume increased to $143.1 million in the last seven days, a 1302.7% increase from a week ago.
– SpookySwap, an AMM on the Fantom ecosystem, played a significant role in the volume increase.
– SpookySwap saw an 181.50% increase in fees generated, making it the ninth-highest fee earner in the DeFi landscape.
Despite the closure of SpiritSwap, Fantom’s TVL has slightly improved in the past 30 days, with a 8.34% increase.
The increase in TVL suggests that the protocol is gaining back the trust of market participants.
– Fantom’s development activity has been increasing, indicating commitment from developers to improve the network.
– FTM’s social dominance has also increased, suggesting a growing hype and attention towards Fantom.

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