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Fantom (FTM) has staged a remarkable comeback, having overcome the key resistance at $0.64 after days of recovery. Over the past seven days, the cryptocurrency has experienced a surge of 30%, marking a notable change in the market.
FTM bottomed out in May 2022, with its price tumbling to $0.20 amid the market turmoil caused by the TerraUSD crash.
Despite recovery efforts, rising global inflation and the collapse of the FTX exchange proved too much for cryptocurrencies. In early November, FTM hit a new low, reaching a value of $0.1635.
Fantom (FTM) has been showing signs of revival starting in January, fueling optimism among investors in its ecosystem. The cryptocurrency has experienced a meteoric rise of 200% over just 30 days, leading some to believe that the next bull market has arrived, as per CoinGecko data.
Its trading volume has seen a significant increase of 20%, a growth that has been hailed as a bullish sign in the market. Additionally, this spike in volume is seen as a sign that investors are eagerly rallying the cryptocurrency, positioning themselves for the next rally, which is expected to take the price towards $0.80 or $1.
However, the excitement is building as the market waits to see where Fantom’s recovery goes next. Currently, according to data from CoinMarketcap, the token is trading at $0.6423, with a gain of 6% in the last 24 hours.
Fantom Towards Growth With An Ambitious Roadmap
Fantom is set to narrow its focus on a decentralized application (dApp) ecosystem in 2023. Co-founder and architect Andre Cronje is return for a project with a roadmap that aims to make FTM highly competitive.
Cronje aims to provide the “highest throughput blockchain available” for a secure settlement layer for all decentralized activities. This new roadmap will emphasize gas monetization to generate revenue, with dApps revenue sharing based on gas usage.
Gas subsidies will make user onboarding seamless and eliminate the need for a wallet and prior knowledge of FTM or gas fees. Fantom Virtual Machines will be updated with new middleware to reach the physical limits of the hardware.
The consensus engine will have “true finality” and reach consensus within 700 ms-900 ms, making the system synchronous for dApp development.
However, work on the roadmap has already begun, with the team focused on making dApp developers’ lives easier. The features developed by Cronje are set to revolutionize the dApp ecosystem and drive growth in the space.
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