Thursday, June 5, 2025
Coin Insights
No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

    Carrieverse and Disney Ink Content Deal

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    Somnia Launches Playground App to Empower Metaverse Creators

    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    from color as theory to generative art with NFTs

    from color as theory to generative art with NFTs

    Yuga Labs sheds NFT icons as it doubles down on Apes and Otherside

    Yuga Labs sheds NFT icons as it doubles down on Apes and Otherside

    Trump Deepfake Calls for Velociraptors on Border Patrol, Racks Up 1.2M Views

    Trump Deepfake Calls for Velociraptors on Border Patrol, Racks Up 1.2M Views

    Mintable unveils green NFT card game at Singapore climate festival

    Mintable unveils green NFT card game at Singapore climate festival

    Solana Trump NFTs Airdropped to Crypto Dinner Guests—One Already Sold for $16K

    Solana Trump NFTs Airdropped to Crypto Dinner Guests—One Already Sold for $16K

    NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

    NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

    NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound

    NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound

    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

  • Gaming
    How Pixels Staking Works: Support Featured Games and Earn $PIXEL

    How Pixels Staking Works: Support Featured Games and Earn $PIXEL

    The Flappy Bird Crypto Game That’s Paying Out More Than You Think

    The Flappy Bird Crypto Game That’s Paying Out More Than You Think

    ‘Flappy Bird’ Is Making a Crypto Gaming Push After All

    ‘Flappy Bird’ Is Making a Crypto Gaming Push After All

    Vi Powils Named CEO of World of Women as Project Enters New Growth Phase

    Vi Powils Named CEO of World of Women as Project Enters New Growth Phase

    Magic Eden’s “Official Trump Wallet” Backfires After Trump Family Disavows Project

    Magic Eden’s “Official Trump Wallet” Backfires After Trump Family Disavows Project

    The Complete Guide to Bonk Arena: Solana’s First Kill-to-Earn Shooter Game

    The Complete Guide to Bonk Arena: Solana’s First Kill-to-Earn Shooter Game

    My Neighbor Alice Launches 500,000 $ALICE Token Airdrop For Alice Birthday Party

    My Neighbor Alice Launches 500,000 $ALICE Token Airdrop For Alice Birthday Party

    My Neighbor Alice Announces Adventure Airdrop of 500K $ALICE for Community Celebration

    My Neighbor Alice Announces Adventure Airdrop of 500K $ALICE for Community Celebration

    How Soneium’s Mini-Apps on LINE Could Pave the Way for Mass Web3 Adoption in Asia

    How Soneium’s Mini-Apps on LINE Could Pave the Way for Mass Web3 Adoption in Asia

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    Key Innovations, Challenges, and What Comes Next

    Key Innovations, Challenges, and What Comes Next

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    Types, Use Cases and Why They Matter

    Types, Use Cases and Why They Matter

    What’s the Real Difference for Beginners?

    What’s the Real Difference for Beginners?

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    The Main Differences Between Crypto Exchanges

    What Is a DEX? How DEXs Work and Why They Matter

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

    Carrieverse and Disney Ink Content Deal

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    Somnia Launches Playground App to Empower Metaverse Creators

    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    from color as theory to generative art with NFTs

    from color as theory to generative art with NFTs

    Yuga Labs sheds NFT icons as it doubles down on Apes and Otherside

    Yuga Labs sheds NFT icons as it doubles down on Apes and Otherside

    Trump Deepfake Calls for Velociraptors on Border Patrol, Racks Up 1.2M Views

    Trump Deepfake Calls for Velociraptors on Border Patrol, Racks Up 1.2M Views

    Mintable unveils green NFT card game at Singapore climate festival

    Mintable unveils green NFT card game at Singapore climate festival

    Solana Trump NFTs Airdropped to Crypto Dinner Guests—One Already Sold for $16K

    Solana Trump NFTs Airdropped to Crypto Dinner Guests—One Already Sold for $16K

    NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

    NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

    NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound

    NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound

    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

  • Gaming
    How Pixels Staking Works: Support Featured Games and Earn $PIXEL

    How Pixels Staking Works: Support Featured Games and Earn $PIXEL

    The Flappy Bird Crypto Game That’s Paying Out More Than You Think

    The Flappy Bird Crypto Game That’s Paying Out More Than You Think

    ‘Flappy Bird’ Is Making a Crypto Gaming Push After All

    ‘Flappy Bird’ Is Making a Crypto Gaming Push After All

    Vi Powils Named CEO of World of Women as Project Enters New Growth Phase

    Vi Powils Named CEO of World of Women as Project Enters New Growth Phase

    Magic Eden’s “Official Trump Wallet” Backfires After Trump Family Disavows Project

    Magic Eden’s “Official Trump Wallet” Backfires After Trump Family Disavows Project

    The Complete Guide to Bonk Arena: Solana’s First Kill-to-Earn Shooter Game

    The Complete Guide to Bonk Arena: Solana’s First Kill-to-Earn Shooter Game

    My Neighbor Alice Launches 500,000 $ALICE Token Airdrop For Alice Birthday Party

    My Neighbor Alice Launches 500,000 $ALICE Token Airdrop For Alice Birthday Party

    My Neighbor Alice Announces Adventure Airdrop of 500K $ALICE for Community Celebration

    My Neighbor Alice Announces Adventure Airdrop of 500K $ALICE for Community Celebration

    How Soneium’s Mini-Apps on LINE Could Pave the Way for Mass Web3 Adoption in Asia

    How Soneium’s Mini-Apps on LINE Could Pave the Way for Mass Web3 Adoption in Asia

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    Key Innovations, Challenges, and What Comes Next

    Key Innovations, Challenges, and What Comes Next

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    Types, Use Cases and Why They Matter

    Types, Use Cases and Why They Matter

    What’s the Real Difference for Beginners?

    What’s the Real Difference for Beginners?

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    The Main Differences Between Crypto Exchanges

    What Is a DEX? How DEXs Work and Why They Matter

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
No Result
View All Result
Coin Insights
No Result
View All Result
Home Altcoins

Fantom’s Q3 performance takes a hit; here’s why

November 1, 2023
in Altcoins
0
Fantom’s Q3 performance takes a hit; here’s why
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

  • In July, Multichain’s Fantom bridge suffered a hack.
  • This resulted in a decline across the Fantom ecosystem in Q3.

In July 2023, the cross-chain router protocol Multichain was hacked. This resulted in the loss of $126 million worth of cryptocurrency on its Fantom [FTM] bridge, which had a significant impact on the network’s performance in Q3.


Read Fantom’s  [FTM] Price Prediction 2023-24


On-chain data provider Messari, in a new report, found that due to the hack, Fantom witnessed a series of declines in some of its ecosystem metrics. 

Firstly, its native token FTM experienced a large selloff in mid-August. This resulted in a 15% decline in the altcoin’s value between 16 and 18 August and a 35% fall in its circulating market capitalization during the quarter under review. 

Further, a quarter-over-quarter (QoQ) assessment of Fantom’s network activity revealed a slight decline in usage in Q3. According to Messari, the protocol’s average count of daily transactions totaled 235,000 between July and September, falling by 15%.

Source: Messari

September brings slight cheer

Interestingly, while the first half of the quarter was marked by a fall in the transactions count on the protocol, its daily count of new addresses trended upward in September. This led to a 106% QoQ increase in daily new addresses on Fantom.  

According to Messari:

“The increase in daily new addresses coincides with the late-August launch of Estfor Kingdom, a blockchain-based game on Fantom. According to DappRadar, Estfor Kingdom hit a peak of 16,500 unique users on September 4, 2023. On the same day, there were 31,000 new addresses on Fantom. While Estfor Kingdom helped drive growth, there were likely other factors as well.”

Source: Messari

Moreover, due to the hack, Fantom’s quarterly revenue climbed by 2% in July. This was because of the high activity on the network, which pushed gas fees to new highs.

See also  Litecoin ETF Rumors Fuel 10% Surge, Institutions Hint At Interest

Messari found that on the day of the hack, the average gas fee peaked at 10,200 Gwei, breaking the previous record of 9,650 Gwei on May 11, 2022.


Realistic or not, here’s FTM’s market cap in BTC’s terms


However, after the initial revenue rally, “quarterly revenues decreased in the second half of Q3’23” to close the three-month period at $700,000. This represented a 32% decline from the $1 million recorded in protocol revenue in Q2.

The protocol’s DeFi ecosystem was not spared from the decline, as its total value locked (TVL) plunged by 70% in Q3.

“Many of the top DeFi applications on Fantom experienced a downturn in TVL throughout Q3’23. Notable protocols by TVL include SpookySwap (-71%), Tarot (-25%), Scream Finance (-45%), Beethoven X (-80%), and Tomb Finance (-14%),” Messari found. 

Source: Messari

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?


  • In July, Multichain’s Fantom bridge suffered a hack.
  • This resulted in a decline across the Fantom ecosystem in Q3.

In July 2023, the cross-chain router protocol Multichain was hacked. This resulted in the loss of $126 million worth of cryptocurrency on its Fantom [FTM] bridge, which had a significant impact on the network’s performance in Q3.


Read Fantom’s  [FTM] Price Prediction 2023-24


On-chain data provider Messari, in a new report, found that due to the hack, Fantom witnessed a series of declines in some of its ecosystem metrics. 

Firstly, its native token FTM experienced a large selloff in mid-August. This resulted in a 15% decline in the altcoin’s value between 16 and 18 August and a 35% fall in its circulating market capitalization during the quarter under review. 

See also  Bitcoin mining status - No more selling? Here's what that means and doesn't mean

Further, a quarter-over-quarter (QoQ) assessment of Fantom’s network activity revealed a slight decline in usage in Q3. According to Messari, the protocol’s average count of daily transactions totaled 235,000 between July and September, falling by 15%.

Source: Messari

September brings slight cheer

Interestingly, while the first half of the quarter was marked by a fall in the transactions count on the protocol, its daily count of new addresses trended upward in September. This led to a 106% QoQ increase in daily new addresses on Fantom.  

According to Messari:

“The increase in daily new addresses coincides with the late-August launch of Estfor Kingdom, a blockchain-based game on Fantom. According to DappRadar, Estfor Kingdom hit a peak of 16,500 unique users on September 4, 2023. On the same day, there were 31,000 new addresses on Fantom. While Estfor Kingdom helped drive growth, there were likely other factors as well.”

Source: Messari

Moreover, due to the hack, Fantom’s quarterly revenue climbed by 2% in July. This was because of the high activity on the network, which pushed gas fees to new highs.

Messari found that on the day of the hack, the average gas fee peaked at 10,200 Gwei, breaking the previous record of 9,650 Gwei on May 11, 2022.


Realistic or not, here’s FTM’s market cap in BTC’s terms


However, after the initial revenue rally, “quarterly revenues decreased in the second half of Q3’23” to close the three-month period at $700,000. This represented a 32% decline from the $1 million recorded in protocol revenue in Q2.

The protocol’s DeFi ecosystem was not spared from the decline, as its total value locked (TVL) plunged by 70% in Q3.

“Many of the top DeFi applications on Fantom experienced a downturn in TVL throughout Q3’23. Notable protocols by TVL include SpookySwap (-71%), Tarot (-25%), Scream Finance (-45%), Beethoven X (-80%), and Tomb Finance (-14%),” Messari found. 

Source: Messari

Tags: FantomsHereshitPerformanceTakes

Related Posts

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor
Altcoins

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

June 25, 2024
Toncoin heats up: What does $398M in trading volume indicate?
Altcoins

Toncoin heats up: What does $398M in trading volume indicate?

June 25, 2024
Another $600M Exits, Price Drops Lower
Altcoins

Another $600M Exits, Price Drops Lower

June 25, 2024
Bitcoin faces downward pressure as Mt. Gox prepares for repayments
Altcoins

Bitcoin faces downward pressure as Mt. Gox prepares for repayments

June 25, 2024
XRP at a crossroads: A drop to $0.445 or rally to $0.5 next?
Altcoins

XRP at a crossroads: A drop to $0.445 or rally to $0.5 next?

June 24, 2024
True Correction Underway? Over $500 Million Exits Bitcoin ETFs — Coinshares
Altcoins

True Correction Underway? Over $500 Million Exits Bitcoin ETFs — Coinshares

June 24, 2024
Next Post
Russian Politicians Want to Ban Private Citizens from Mining Crypto

Russian Politicians Want to Ban Private Citizens from Mining Crypto

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

October 28, 2023
Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

November 2, 2023
UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

October 30, 2023
Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024
Ethereum crosses $3.2K as L2 crosses new milestone: What now?

Ethereum crosses $3.2K as L2 crosses new milestone: What now?

May 6, 2024

Don't miss a single story

Subscribe to our free Newsletter

EDITOR'S PICK

Ethereum Shows 4H Bearish Divergence – Can Bulls Hold $1,750?

Ethereum Shows 4H Bearish Divergence – Can Bulls Hold $1,750?

April 28, 2025
Crypto developers introduce rival ERC-404 implementation called DN-404

Crypto developers introduce rival ERC-404 implementation called DN-404

February 13, 2024
Gemini issues apology for false Bitcoin price alert! Details here… 

Bhutan cash out 367 Bitcoins for $33M, THIS is the reason

November 15, 2024
Crypto Fear and Greed Index shows potential for price growth

Crypto Fear and Greed Index shows potential for price growth

October 8, 2024

About

Dive into the world of cryptocurrency. Our news site offers insights, trends, and updates to guide your journey into the realm of digital finance.

Follow us

Categories

  • AI
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • DeFi
  • Ethereum
  • Gaming
  • Guides
  • Metaverse
  • Mining
  • NFT
  • Other
  • Web 3

Recent Posts

  • How Pixels Staking Works: Support Featured Games and Earn $PIXEL
  • One Bitcoin Miner Snatches Entire Prize Single-Handed!
  • What Are Liquidity Pools? A Guide to DeFi Explained Simply

Newsletter

Don't miss a single story

Subscribe to our free Newsletter

  • Contact
  • Disclosure
  • Privacy Policy
  • Terms & conditions

© 2023 Coininsights.com - All rights reserved.

No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
  • Metaverse
  • NFT
  • Gaming
  • Blockchain
  • AI
  • Guides
  • Analysis
  • Coin Marketcaps

© 2023 Coininsights.com - All rights reserved.