Andre Cronje, one of the legendary DeFi developers, says the potentials for an altcoin are “very high”, although its development will slow in 2022. In this article, you can find the details of Cronje’s report dated 24 December.
Andre Cronje predicts high ‘triple-digit’ growth despite crypto winter
Andre Cronje, who rejoined the Phantom Foundation as an architect in November, published his review of Phantom’s (FTM) 2022 performance on December 24. According to FTMScan data shared by Cronje, the annual growth of daily transactions on the Fantom network reached 131% between 2021 and 2022. This is far behind the network’s annual growth of 12.998% in 2020-2021. Cronje states that daily transactions show the amount of activity performed by users.
Average block size
The annual growth of the average block size in the phantom network reached 163% in 2022 compared to 25% in 2021. According to Cronje, the increase in block area means users pay more to include their transactions.
daily used gas
Also, daily gas, which shows how much users are willing to pay to add their transactions on the network, has increased by 86% compared to last year. For comparison, the daily gas used in Phantom increased by 9425% in 2020-2021.
Daily approved contracts
Contracts verified daily measures the number of new contracts verified on Fantom. “Although it’s a bit of a leap to turn this into a developer event, it’s close to that,” Cronje wrote. According to FTMScan data, contracts verified daily on Fantom increased by 70% in 2022 compared to 1400% in 2021.
Locked total value (TVL)
Citing data from DefiLlama, Cronje stated that Phantom’s total locked value (TVL) increased by 216% in 2021-2022. However, this growth pales in comparison to the 49,089% annual TVL growth achieved in 2020-2021.
Daily active users
The number of daily active users (GEKS) on Fantom increased by 41% in 2021-2022 compared to 5589% the previous year. In addition, the average number of monthly active developers on the network increased by 41% in 2022 compared to 50% in 2020-2021.
cryptocoin.com As we have reported, Andre Cronje announced that he was leaving the DeFi industry in March. He later returned to the Phantom team in May. His departure and comeback had an impact on the price of FTM, Yearn.Finance, Keep3r Network, Solidly and other protocols. Cronje is now making reassuring statements about The Phantom.
DeFi developer expects triple-digit growth in altcoin project
Finally, Cronje said that the FTM price increased by 18% in 2021-2022 compared to 2025% annual growth in 2020-2021. He also concluded that despite the slowdown in growth during the crypto winter, Phantom’s growth metrics remained in the “high double and triple digits.” That’s too high for “any technology or growth industry,” he says. Cronje adds:
We see that Fantom can achieve this growth with very low incentives and continue this sustainable growth.
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