Fantom Sees 4,200% Growth in Smart Contract Deployment as Price Remains Unchanged, Data Shows – U.Today


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Fantom (FTM), a Дayer 1 blockchain platform that powers decentralized finance (DeFi) applications, reports a 4,200% increase in smart contracts deployment since February 2021. It notes that the number of deployed verified contracts rose from 111 recorded in February 2021 to 4,677 in February of this year, representing a 42x increment.
The Fantom ecosystem continues its expansion. A comparative look:

🔹 In the month of February 2021: 111 verified contracts were deployed.

🔹 In the month of February 2022: 4,677 verified contracts were deployed. This represents an increase of 42x.#FantomByTheNumbers pic.twitter.com/2mPQRWJTDd
Smart contracts are written in Solidity and can function on Fantom as they do on Ethereum. A Fantom transaction containing the user’s bytecode is delivered without naming any recipients to deploy a smart contract. The contract will be available to all Fantom network users after it has been deployed.
The Fantom Foundation recently announced its strategic collaboration with crypto exchange Poloniex. Poloniex will support the development of the Fantom ecosystem. In another positive development, users can now bridge funds to and from Fantom via cross-chain bridge Wormhole. With deposits and withdrawals of mainnet FTM, Crypto.com’s 10 million customers, including U.S. residents, now have easy access to the Fantom ecosystem.
Amid the drop in prices, whales are using the opportunity to accumulate, as WhaleStats reports two large purchases of 2,000,000 FTM bought in recent hours by top ETH whales, or large holder addresses.
🐋 An ETH whale just bought 2,000,000 $ftm ($2,360,000 USD).

Ranked #20 on WhaleStats: https://t.co/ed7FkDM14n

Transaction: https://t.co/XW4X5IY4ai#ethereum #whalestats #babywhale #BBW
Fantom (FTM) fell in the prior week after developer exits weighed on investor confidence. Andre Cronje, the developer of Yearn. Finance announced that he was calling it quits together with developer Anton Nell while tweeting that they were “terminating” 25 projects.
The Fantom Foundation clarified this as miscommunication in a released statement. After a few days of decline, the FTM price rose in a relief rally to reach highs of $1.28 on March 16. At press time, FTM was attempting a rebound from intraday lows of $1.17. At the time of publication, FTM trades at $1.21 and ranks 41st largest cryptocurrency by market capitalization, per CoinMarketCap.

Tomiwabold is a cryptocurrency analyst, technical analyst and experienced fund manager. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
Disclaimer: Any financial and market information given on U.Today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.

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