Fantom (FTM) Dramatically up 10%, Here’s Reason

Fantom (FTM) is on a bullish run, joining the few altcoins leading the ongoing altcoin surge. The digital currency is up 10% at the time of writing to $0.3086, albeit with extreme volatility impacting the price. With the current outlook, Fantom has extended its weekly gains to 14% as it drives the push to end the month of November on a positive note.

Fantom remains on the frontline among Distributed Ledger Technology (DLT) protocols with a whole different design but with notable milestones to show. In one of its latest moves, it boosted its ecosystem sentiment with the distribution of over 505,000 FTM to about 12 projects in its gas monetization program.

Notably, Fantom’s growth also underscores the inherent sentiment that, irrespective of the downturn, continuous building and ecosystem innovation will eventually pay off. This is the story of Fantom as, at one point this year, the coin dropped as low as $0.178 at a time when many altcoins were finding their balance on grounds of general market sentiment.

Picking up its own momentum in its own time is proof that FTM’s appeal among its core backers is yet to fade away.

Fantom brilliantly navigating highs and lows

With Fantom owing its community the duty to keep thriving, it has had to navigate some notable highs and lows this year. The hack suffered by Multichain was one of the crucial straws that broke the camel’s back.

The Multichain exploit almost turned Fantom into a ghost protocol as the number of users dropped, with Web3 stakeholders exploring alternative chains to meet their demands. After much internal work and and promising industry trends, FTM started charting a rebound and, at one point, it was profiled alongside other top performers, including Cardano (ADA) and El Hippo (HIPP).

With its story of resilience, Fantom now ranks as a top token to watch out for.

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