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08 March 2021

3 reasons why Fantom (FTM) price continues to rally to new all-time highs

3 reasons why Fantom (FTM) price continues to rally to new all-time highs


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Fantom (FTM) is the latest project to receive a boost by offering cross-chain functionality with Ethereum, and data from Cointelegraph Markets and TradingView shows a 1,570% increase in FTM price from $0.025 on Jan.

Three fundamental reasons for Fantom's current rally are the release of a cross-chain bridge between Ethereum and Fantom, the roll-out of on-chain governance features and the ability to stake tokens on the network while still accessing their value for use in the decentralized finance ecosystem.

21, Fantom, with the help of Andre Cronje of Yearn.finance, announced the development of a cross-chain bridge with Ethereum that allows users to transfer ERC-20 tokens to Fantom to “enjoy fast and cheap transactions.”.

The Fantom voting system differs from other governance platforms, as it offers a variety of proposal templates and the ability to express the degree of agreement with the proposal as opposed to casting a simple "yes" or "no" vote.

A third motivating factor behind the recent price rise of FTM is the introduction of liquid staking, or the ability to stake tokens on the network and simultaneously access the value of the token for use in DeFi.

Each of these developments supports the strong breakout in FTM price, and the upcoming public release of its Ethereum cross-chain bridge has placed Fantom in a good position to receive a new level of DeFi engagement

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