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Fantom FTM Market Cap Declined 36% in Q2 2023

Fantom faced a decline in daily active addresses by 18% QoQ, while new unique addresses grew by 146% QoQ, coinciding with increased activity on LayerZero and Galxe. Daily transactions decreased by 24.4% QoQ. The market cap declined 36% QoQ after the SEC took regulatory actions against Coinbase and Binance.US. Total Value Locked (TVL) in USD dropped 46% QoQ, and revenue in FTM increased by 35% (+22% in USD terms), while network value decreased by 36.1% QoQ. Several ecosystem growth initiatives were established, including the Ecosystem Vault, which amassed ~530,000 FTM by Q2 2023, and the Gas Monetization Program, launched in beta in Q2 2023, with over a dozen applications joining.


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