DEX Volumes Surge on Fantom, Will FTM Lead The Bull Run in 2024?
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- According to Dune Analytics data, the volume of most DEXs on Fantom nearly doubled in the past week.
- Fantom’s monthly active addresses during the DeFi summer of 2020 remained above 400,000.
- Increased activity in the Fantom ecosystem has seen FTM gain over 200% in less than one month.
A crypto data analyst at Hashed, Subin An on X, has spotted notable developments in the Fantom decentralized ecosystem. According to An, since the DeFi summer of 2020, decentralized exchange (DEX) volume on Fantom has significantly decreased. However, he observed that the monthly active addresses (MAU) during the same period remained above 400,000.
Can @FantomFDN lead the DeFi bull market again? Since the DeFi summer, DEX volume has significantly decreased, but MAU have maintained over 400K. it can be observed that the volume of most DEXs has nearly 2X in the past week. 2024
— Subin An | Hashed (@subinium) March 21, 2024?@AndreCronjeTech https://t.co/2apgO3Hpq9 pic.twitter.com/33auouQmdV
The data analyst further noted that the volume of most DEXs on Fantom nearly doubled in the past week, signifying a potential rally for the ecosystem in the coming months. He also asked if …
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