Fantom Listed On Major US Crypto Exchange
Fantom is already getting adopted at a blistering rate, but its most recent exchange listing could turn the network’s growth up another notch.
Covered:
- Binance.US Lists Fantom
- Fantom TVL Flips Solana
Fantom (FTM) has been flying in the green after catching a wave of attention from the crypto community over the last month. As more and more users are onboarding Fantom DeFi, other crypto exchanges are taking notice and taking action to make sure they don’t miss out on the growth of the Fantom ecosystem.
Binance.US Lists Fantom
Last night, Fantom received huge news from one of the largest crypto exchanges in the world, Binance.US.
We’ve got some major updates for the @FantomFDN community:
? Mainnet $FTM deposits & withdrawals are LIVE
? $FTM is now available in our Buy Crypto portal
? https://t.co/AZwoBOgsqS wallet now supports Fantom Opera, ERC-20, and BEP-2 $FTM tokensRead: https://t.co/kFOz8uuEPh pic.twitter.com/7kjKPXAyJH
— Binance.US ???? (@BinanceUS) January 13, 2022
Fantom is coming to the Binance.US exchange. This is big news not only because adoption from US investors is now more accessible than ever before, but also because Binance is supporting Fantom-native FTM tokens along with the ERC-20/BEP-2 variants. This means that US investors now have a direct on-ramp to Fantom DeFi that doesn’t require jumping through any hoops from third-party exchanges.
Because of @BinanceUS now anyone can open an account, buy $FTM with fiat and withdraw to wallet directly! We are going to save so much time not explaining bridges and swapping! ??
— Tweak896 (@Tweak896) January 13, 2022
In my experience in crypto, hurdles to DeFi accessibility are one of the main killers of potential in the space. DeFi needs to be as accessible as possible — a seamless experience that doesn’t feel too foreign from everyone’s traditional online experience. Otherwise, the average crypto investor will have a harder time seeing the value in DeFi protocols and being convinced to try some of them out.
Crypto can be an intimidating game for a lot of newcomers. Not only does someone have to stomach the volatility of the crypto markets, but bridging their money across protocols and transferring tokens to crypto wallets can all feel extra daunting when they aren’t very familiar with the space.
With FTM’s latest Binance listing, however, those extra hurdles are being broken down, allowing FTM holders on the platform a direct route to access Fantom DeFi. Mainstream understanding of these protocols is still a ways away, but the route there is becoming clearer by the day.
Fantom TVL Flips Solana
It’s not just crypto exchanges that are making headlines for Fantom — the platform’s total-value-locked (TVL) just hit the $10 billion milestone yesterday, flipping Solana to become the fifth-largest blockchain by TVL, according to DeFiLlama.
At the end of the day, we know a crypto exchange lists a token because they want a piece of the action. And you cant blame Binance, either — the daily metrics we’re seeing from Fantom are turning heads from all crowds of the crypto space. Users are joining the Fantom Network faster than ever before: as crypto trader Miles Deutscher points out, FTM’s daily increase of wallet addresses has surged over 3x from a month ago.
$FTM wallet addresses grew by +16,760 today, totalling 1.64m.
A month ago, the average daily increase was 5,500. Something is brewing.. ?? pic.twitter.com/hdazW6F36t
— Miles Deutscher (@milesdeutscher) January 13, 2022
At the time of writing, FTM is trading at $3.05. If the cryptocurrency is able to hold strong at the $3 level, I think a swift revisit to its previous all-time high of $3.45 is on the cards in the short term. While nearly all cryptos are trading in the green today, Fantom is clearly leading the pack off the news of the Binance.US exchange listing.
FOAN meme strong. Or well, FON.
Sold some spot yesterday around $2.87, minor stupid; $FTM leading the charge. pic.twitter.com/XMNsmRZDx6
— Jelle?? (@CryptoJelleNL) January 13, 2022
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