The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $16,851.82 and BTC market dominance is %. The price of Ethereum is $1,220.24 and ETH market dominance is %. The best performing cryptoasset sector is Yield Farming, which gained 8%.
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In a yearly review, Andre Cronje said that Fantom’s growth has slowed in 2022 compared to previous years, but it’s still ‘”very high.”
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On Dec. 24, Andre Cronje, who rejoined the Fantom Foundation as an architect in November, posted a performance review of Fantom (FTM) in 2022. Cronje had left the crypto and decentralized finance (DeFi) world in March, sparking an uproar at the time.
As per the data from FTMScan shared by Cronje, the yearly growth of daily transactions on the Fantom network reached 131% between 2021 and 2022. This is far behind the network’s annual growth of 12,998% in 2020-2021. Daily transactions indicate the amount of activity users conduct on-chain, Cronje noted.
The yearly growth of average block size on the Fantom network reached 163% in 2022, compared to 25% in 2021. According to Cronje, the increase in block space equates to users paying more to include their transactions.
Daily gas used, which indicates how much users are willing to pay to add their transactions on the network, grew by 86% over the last year. Comparatively, daily gas used on Fantom surged by 9425% in 2020-2021.
The daily verified contracts measure the number of new contracts verified on Fantom. While “its a bit of a jump to translate this to developer activity, however, it is a proximity thereof,” wrote Cronje. Daily verified contracts on Fantom increased by 70% in 2022 compared to 1400% in 2021, as per FTMScan data.
Citing data from DefiLlama, Cronje noted that Fantom’s total value locked (TVL) jumped by 216% in 2021-2022. This growth, however, pales in comparison to the 49,089% yearly TVL growth achieved in 2020-2021.
Daily active users (DAU) on Fantom surged 41% in 2021-2022 compared to 5589% the previous year. In addition, the monthly average active developers on the network increased by 41% in 2022 compared to 50% in 2020-2021.
Lastly, Cronje said the price of FTM grew by 18% in 2021-2022 compared to the yearly growth of 2025% in 2020-2021. At the time of writing, FTM was trading at $0.203, down 94.21% from its all-time high of $3.526, according to CryptoSlate data
Cronje concluded that despite a slowdown in growth amid the crypto winter, Fantom’s growth metrics remain in the “high double and triple digits,” which is very high for “any tech or growth industry.” He added:
“We can see that Fantom has been able to achieve this growth with very low incentives and can continue to achieve this sustainable growth.”
Monika first started reading about crypto in 2020 and kept going deeper and deeper down the rabbit hole. While she is always skeptical of new projects, she earnestly believes blockchain and the crypto industry can bring relief to some of the most pressing problems of our time, including financial inequality and transparency. She is a voracious reader, and her fondness for food only rivals her love for books. Monika was previously a reporter at Jumpstart Media and Forkast News.
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Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm. Learn more
Andre Cronje is the founder and architect of popular DeFi platform iEarn Finance.. Learn More
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