Fantom Sees 4,200% Growth in Smart Contract Deployment as Price Remains Unchanged, Data Shows


Fantom ecosystem expansion continues since February 2021 with a 4,200% increase

Ghost (FTM)a Дayer 1 blockchain platform that powers decentralized finance (DeFi) applications, reports a 4,200% increase in the deployment of smart contracts since February 2021. It notes that the number of verified contracts deployed has increased from 111 recorded in February 2021 to 4,677 in February this year, representing a 42x increase.

Smart contracts are written in Solidity and can function on Fantom as they do on Ethereum. A Fantom transaction containing the user’s bytecode is delivered without naming any recipients to deploy a smart contract. The contract will be available to all Fantom network users after it has been deployed.

The Fantom Foundation recently announced its strategic collaboration with crypto exchange Poloniex. Poloniex will support the development of the Fantom ecosystem. In another positive development, users can now transfer funds to and from Fantom via the Wormhole cross-chain bridge. With deposits and withdrawals from the FTM mainnet,’s 10 million customers, including US residents, now have easy access to the Fantom ecosystem.

Price still unmoved

Amid the drop in prices, whales are using the opportunity to accumulate, as WhaleStats reports two large purchases of 2,000,000 FTM bought in recent hours by top ETH whales, or large holder addresses.

Fantom (FTM) fell the previous week after developer exits weighed on investor confidence. Andre Cronje, the developer of Yearn. Finance announced it was calling it quits along with developer Anton Nell while tweeting that they were “terminating” 25 projects.

The Fantom Foundation clarified this as miscommunication in a released statement. After a few days of decline, the FTM price rose in a relief rally to reach highs of $1.28 on March 16. At press time, FTM was attempting a rebound from intraday lows of $1.17. At the time of publication, FTM trades at $1.21 and ranks 41st largest cryptocurrency by market capitalization, per CoinMarketCap.


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