Fantom Transactions Surge Ahead of Avalanche

[bbc.reporter]

I am not certain about this, however, there are speculations that a group of whales are working together to pump F.O.A.N. The coins in this acronym are Fantom, One Harmony, Atom Cosmos and Near protocol. Open the chart for each and you would see almost a similar pattern for each of them. They are pumping while everything else in the cryptospace are dumping.



Transactions on emerging layer 1 blockchain Fantom crossed those on Avalanche this week as crypto users looked for the next decentralized finance (DeFi) play. Layer 1 blockchains refer to individual blockchain platforms such as Ethereum, Fantom and Solana that can support products and services built atop their networks.

More than 1 million transactions were processed on the Fantom network, compared with 728,000 transactions on Avalanche earlier this week, research from Delphi Digital found. Such transactional activity on Fantom was previously seen in September, data from blockchain trackers show.

“As the narrative rotates from Avalanche to Fantom, it’s not surprising to see it reflected in transactions. Opportunistic capital moved over to yield farm on Fantom with high yields on stablecoins of around ~30-60% APR (annual percentage rate),” Delphi Digital analysts said in the note.

Both networks have processed more than 853,000 transactions in the past 24 hours, with the surge in Fantom mainly driven by upcoming DeFi projects and users interacting with current ones.

Interest in Fantom has increased as Daniele Sestagalli and Andre Cronje – developers known for launching protocols on Avalanche, Ethereum and Fantom that lock billions of dollars in value – announced a collaboration on an upcoming project that will deploy on Fantom.

Read in full https://www.coindesk.com/tech/2022/01/07/fantom-transactions-surge-ahead-of-avalanche-as-defi-prospects-heat-up/

[michellee]

I would love to wait for that pump to come as I have all of those coins you mentioned

When we talk about the pump, it could be a huge pump coming to those coins as bitcoin still goes down. People are sad to see their investment value down and if this pump is coming, they will have a new hope to profit from all of those coins. But I do not predict that the pump will come in a short time as it will need more support to see all of those coins increase together. Well, maybe the increase will come to one by one of the coins, but we can not be sure when the time will happen.

[cryptoaddictchie]

I'm also a holder of fantom and avalanche. SO I definitely support any groups that promotes it. Regarding one harmony, near and atom cosmos,I am thinking if it's too late already to enter. Even though fantom surpass avalanche in transaction, I think it's gonna need a little bit push to beat avalanche on ranking. I am not against those two since both are of my holdings and major coins that I held eversince. So I think adding those 3 more would be a great deal.

[bbc.reporter]

It appears the F.O.A.N. index has recently been published in Coindesk hehe. However, it also appears that the traders who are taking the recognition are not the people who pumped F.O.A.N. This article is misreported. The whale who begun F.O.A.N. on December 2021 is a wolf hehehehe.

In any case, I also have noticed that if you follow the right group of people in social media, you would be getting the information directly from the source. Cryptonews media outlets appear to be getting some of their news from the same social media sources also. 



NEAR Hits All-Time High as Upstart Blockchains Win With 'FOAN Trade'

Sean Farrell, head of digital asset strategy at the investment-research firm Fundstrat, expects the outperformance of NEAR and other smart contract platforms to persist. Unlike the larger coins such as bitcoin and ether that have been affected by macro headwinds recently, there are certain pockets of crypto that have performed well, according to Farrell.

“This is due to the amount of crypto-native capital that exists within the system and has no interest in exiting said system,” Farrell said. “Regardless of macro trends, I’d be surprised if this sort of isolated outperformance from certain sectors within crypto doesn’t persist for the foreseeable future.”

It appears there is a new cohort of smart contract platforms including Fantom (FTM), Harmony (ONE), Atom (ATOM) and Near – some quick-thinkers are calling it the "FOAN trade" – that are scooping up a lot of the excess crypto-native liquidity looking for a home, said Farrell.

Source https://www.coindesk.com/markets/2022/01/12/near-hits-all-time-high-as-upstart-blockchains-win-with-foan-trade/