HomeUncategorizedHow Fantom and Optimism’s DeFi and DApp development directly affects FTM and OP price action By Cointelegraph

How Fantom and Optimism’s DeFi and DApp development directly affects FTM and OP price action By Cointelegraph

February 23, 2023

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The price action of Optimism (OP) and Fantom (FTM) tokens have been quite identical since the last quarter of 2022. The difference is, volatility is slightly higher for OP, which surged 240% year-to-date, compared to the 180% gains seen in FTM.

The Fantom Foundation has made several improvements since Q4 2022, which have catalyzed an uptrend in the token’s price. However, Fantom’s ecosystem remains primitive while its competitors expanded to support new use cases.

(orange) and (blue) price chart. Source: TradingView
Fantom TVL over time. Source: DefiLlama
Number of smart contracts created on Fantom. Source: Dune
Top Fantom dApps by usage in the last 30 days. Source: Nansen
The total liquidity on Optimism. Source: DefiLlama
Top Optimism dApps by usage in the last 30 days. Source: Nansen
FTM/USD weekly chart. Source: TradingView