Social media metrics provide insights into the on-the-ground adoption of a cryptocurrency mission and the pursuits of the common cryptocurrency investor.
One mission that has seen a current important improve in varied social media metrics, together with mentions, engagements, and common each day social contributions, is Fantom. A quickly rising layer-1 good contract platform, Fantom makes use of a directed acyclic graph structure to attain unparalleled pace and scalability.
In line with data from LunarCrush, over the month of August, the social media mentions for Fantom noticed a powerful 34.08% improve in comparison with July, with a complete of 67,305 mentions.
Quite a few elements have pushed engagement with the mission, together with the bridge to the extensively used Ethereum community and the various NFT initiatives which have begun to develop on the platform to benefit from its low prices and pace.
Additional proof of Fantom’s positive aspects in 2021 could be discovered by taking a look at on-chain information, which exhibits that the group now boasts 677,430 distinctive addresses that frequently full greater than 1.5 million transactions a day.
One other consider Fantom’s explosive progress has been the launch of a number of decentralized finance (DeFi) protocols on the community, corresponding to SpiritSwap, SpookySwap, and the multi-chain, stablecoin-focused automated market maker Curve.
On account of the speedy enlargement of the Fantom community and its rising DeFi ecosystem, the overall worth locked on the protocol reached a brand new report excessive of $1.4B on September 9, 2021, in keeping with information from DeFi Llama.
Collectively, these elements have helped result in a virtually 96% rise in month-to-month social engagements with a mean of 1,660 distinctive each day social contributors.
With a robust and rising group supporting a crew of passionate builders targeted on constructing the subsequent era of blockchain protocols, the long run is trying brilliant for the Fantom community because it establishes its place within the increasing blockchain universe.
Picture by Gerd Altmann from Pixabay