Social media metrics supply insights into the on-the-ground adoption of a cryptocurrency venture and the pursuits of the common cryptocurrency investor.
One venture that has seen a current important enhance in varied social media metrics, together with mentions, engagements, and common each day social contributions, is Fantom. A quickly rising layer-1 sensible contract platform, Fantom makes use of a directed acyclic graph structure to attain unparalleled velocity and scalability.
In line with data from LunarCrush, over the month of August, the social media mentions for Fantom noticed a formidable 34.08% enhance in comparison with July, with a complete of 67,305 mentions.
Quite a few elements have pushed engagement with the venture, together with the bridge to the broadly used Ethereum community and the numerous NFT tasks which have begun to develop on the platform to reap the benefits of its low prices and velocity.
Additional proof of Fantom’s good points in 2021 might be discovered by taking a look at on-chain knowledge, which exhibits that the neighborhood now boasts 677,430 distinctive addresses that repeatedly full greater than 1.5 million transactions a day.
One other consider Fantom’s explosive development has been the launch of a number of decentralized finance (DeFi) protocols on the community, reminiscent of SpiritSwap, SpookySwap, and the multi-chain, stablecoin-focused automated market maker Curve.
On account of the fast growth of the Fantom community and its rising DeFi ecosystem, the entire worth locked on the protocol reached a brand new document excessive of $1.4B on September 9, 2021, in line with knowledge from DeFi Llama.
Collectively, these elements have helped result in an almost 96% rise in month-to-month social engagements with a mean of 1,660 distinctive each day social contributors.
With a robust and rising neighborhood supporting a workforce of passionate builders centered on constructing the subsequent era of blockchain protocols, the long run is wanting vivid for the Fantom community because it establishes its place within the increasing blockchain universe.
Picture by Gerd Altmann from Pixabay