Fantom’s FTM/USD native token was the top gainer among cryptocurrencies last week, followed closely by Synthetix Network’s SNX/USD native token, which recorded a similar uptick in price.
Both tokens gained 24% over the last seven days, outperforming coins like Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD.
|Cryptocurrency||7-Day % Change (+/-)||All-Time High Value/Date Reached||% Change (+/-) Since All-Time High|
|Fantom (FTM)||+24.5%||$3.46 On Oct 28, 2021||-90.8%|
|Synthetix Network (SNX)||+24.1%||$28.53 On Feb 14, 2021||-88.5%|
|Apecoin (APE)||+18%||$26.7 On Apr 28, 2022||-76%|
|Curve DAO (CRV)||+17%%||$15.37 On Aug 14, 2020||-91.6%|
|Ethereum Classic (ETC)||+14.5%||$167.09 On May 06, 2021||-85.2%|
Fantom’s Token Burns And Transaction Surge
A weekend update from a Fantom blockchain-focused analytics tool revealed that over 7.7 million FTM tokens have been burned to date. This equates to $2.3 billion worth of FTM being removed from circulation.
Deflation Updates on @FantomFDN
Total amount of burned $FTM is 7,742,437 at the moment, which is equivalent to $2,384,831. In the purge phase in the crypto space, the #Fantom team still keeps creating huge efforts for the upcoming BIG BANGs of the ecosystem@FTMAlerts #FTM pic.twitter.com/N4ChzlvVGa
— Fantom Insider (@fantom_insider) July 21, 2022
The blockchain also recorded an 87% uptick in daily transactions year-to-date — a significant percentage change compared to competing blockchains. The number of daily transactions on the Fantom blockchain stood at 1,012,742 as of July 18.
Daily transactions change compared to 1/1/2022
Avalanche C-chain -74.1%
— Fantom News (@fantomnews) July 19, 2022
Synthetix Partners With Jump Crypto
On July 21, Synthetix announced a partnership with trading firm Jump Crypto. Synthetix DAO said that Jump would be working closely with its ecosystem to support liquidity across the board.
Synthetix DAO and Jump Crypto are excited to announce a renewed partnership.
Jump Crypto’s experience in data-driven trading and liquidity provisioning will complement Synthetix’s mission to become the liquidity backbone for on-chain derivatives.
— Synthetix (@synthetix_io) July 21, 2022
The DeFi protocol’s sUSD bridge to Ethereum, which was enabled last week, facilitates sUSD transfers between the mainnet and Optimistic Ethereum.
Another point of interest for SNX stakers is Kwenta’s launch of Futures trading on Optimism L2. This feature brings additional fees to SNX token stakers.