The rollercoaster ride continues in the cryptocurrency market. Following the sharp declines, the Fed’s dovish statements helped the market recover quickly. In addition, crypto exchanges continue to expand their lists. Leading crypto exchange Coinbase announced that it will list Fantom and THORChain in futures. Meanwhile, the volume of most DEXes on Fantom has nearly doubled in the past week, according to Dune Analytics data.
Coinbase, FTM and Lists RUNE in futures!
cryptokoin.comAs you follow from , stock exchanges have recently accelerated listings. In particular, leading crypto exchange Coinbase continues to expand its list. Coinbase International, the futures trading arm of the exchange, announced that it will add 2 new altcoins to its list. In this context, the exchange will soon launch RUNE-PERP and FTM-PERP futures contracts. The stock exchange made the following announcement regarding the issue:
CoinbaseIntExch will add support for Fantom and THORChain perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our FTM-PERP and RUNE-PERP markets will begin on March 28, 2024 at 12:30 CET or later.
DEX volumes fluctuate on Fantom!
Subin An, a crypto data analyst, has identified notable developments in the Fantom decentralized ecosystem. According to An, since the DeFi summer of 2020, decentralized exchange (DEX) volume on Fantom has decreased significantly. However, monthly active addresses (MAU) remained above 400,000 during the same period. The data analyst also shared that the volume of most DEXes on Fantom has almost doubled in the past week. He noted that this points to a potential upside for the ecosystem in the coming months. He also asked whether the Fantom Foundation’s layer-1 solution could support the expected increase as it has in the past.
An referred to Dune Analytics’ data when explaining his opinion. He also highlighted the impressive performance of Phantom-based DEXs. He noted that SpookySwap holds the top spot in terms of 7-day volume. The new DEX achieved $81.8 million in volume, an increase of 163.3% in the last seven days. Many DEXes on Fantom have seen volume increases of over 200% in the past week, including Equalizer, Beethoven_x, and Curve. Such returns have led us to wonder whether the Fantom network will repeat the performance of the last bull run.
Will FTM lead the bull run in 2024?
Fantom’s native token, FTM, rose from $0.3871 in late February to $1.1530 in a short time. cryptokoin.comAs you follow from , FTM gained 200% in value with this rally. Thus, it broke above multiple resistances to start the bull run. The latest surge mimics the early stages of FTM’s rally during the last bull run, when the tier-1 solution gained nearly 2,500% in less than four months. According to the latest data, FTM was trading at $1.12 at the time of this writing. Additionally, the price was showing signs of further upside potential.
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