FTM price rose 30% in a day after Nansen announced his support for the Fantom network as we read more about his crypto news today.
The price of FTM, the native token of the popular Fantom network, has increased by 30% after the announcement of tens of millions by data analytics provider Nansen, which has added support for it. Fantom is a smart contract platform that uses the Proof of Stake consensus algorithm and is based on the Live Circle Graph technology used by other projects such as Heder Hashragph and IOTA.
In a press release today, the team announced that Nansen is a well-known data analytics provider that has added blockchain support. DeFi Lama reports that the total value of the Fantom Network is over $ 5 billion on a massive 24 hour increase. The price of Fantom’s native FTM token rose about 30% before returning to its place of trading. Once integrated, Fantom based will appear on the Nansen dashboard, making it more accessible. Fantom CEO Michael Kong:
“Nansen Analytics will make innovative projects visible in the network and increase their success. We are delighted with the increasing use of Nansen for Fantom and the incredible wealth of information that the analytics platform will provide. “
As recently reported, the ETH-based startup The Nansen Analytics has successfully secured a $ 1.2 million seed investment. Skyfall Ventures and Mechanism Capital led Nansen’s first round of funding with additional support from Volt Capital, Fabric Ventures, Robot Ventures, and others. Individual investors include Eric Connor, an Ethereum developer, Anthony Yoon and Sergei Chan from FTX and Exchange DEribit, who also participated in the seed round. Alex Svanevik, CEO of Nansen, said that “the leadership position on the team is growing so that we have more bandwidth to deliver along our roadmap”. The wallet label database for millions of ETH addresses is Nansen’s strongest selling point. Svanevik also talks about new features in the process like tracking the activities of the smartest ETH and DeFi investors, alerts on noteworthy transactions and a personalized dashboard for clients.
Since its launch in April, the company has won over 1200 customers who use Nansen Analytics for chain analysis and market signals. As mentioned recently, a technical break above the USD 420 resistance level confirms the continuation of last week’s bullish breakout, and data analysis on the chain shows an increase in activity on the ETH blockchain.
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