Social media metrics offer insights into the on-the-ground adoption of a cryptocurrency project and the interests of the average cryptocurrency investor.
One task that has actually seen a current substantial increase in different social networks metrics, consisting of points out, engagements, and typical everyday social contributions, is Fantom. A rapidly growing layer-1 smart contract platform, Fantom utilizes a directed acyclic graph architecture to achieve unparalleled speed and scalability.
According to data from LunarCrush, over the month of August, the social networks points out for Fantom saw a remarkable 34.08% increase compared to July, with an overall of 67,305 points out.
Numerous factors have driven engagement with the project, including the bridge to the widely used Ethereum network and the many NFT projects that have begun to develop on the platform to take advantage of its low costs and speed.
Further proof of Fantom’s gains in 2021 can be discovered by taking a look at on-chain information, which reveals that the community now boasts 677,430 distinct addresses that frequently finish more than 1.5 million deals a day.
Another factor in Fantom’s explosive growth has been the launch of multiple decentralized finance (DeFi) protocols on the network, such as SpiritSwap, SpookySwap, and the multi-chain, stablecoin-focused automated market maker Curve.
As an outcome of the fast growth of the Fantom network and its growing DeFi community, the overall worth locked on the procedure reached a new record high of $1.4B on September 9, 2021, according to information from DeFi Llama.
Together, these factors have helped lead to a nearly 96% rise in monthly social engagements with an average of 1,660 unique daily social contributors.
With a strong and growing community supporting a group of enthusiastic designers concentrated on constructing the next generation of blockchain procedures, the future is looking intense for the Fantom network as it develops its location in the broadening blockchain universe.
