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Fantom

FANTOM is a new directed acyclic graph (DAG) based Smart Contract platform that intends to solve the scalability issues of existing public distributed ledger technologies.

The platform intends to distinguish itself from the traditional block ledger-based storage infrastructure by employing an improved version of existing DAG-based protocols. The FANTOM platform adopts a new algorithm known as the “Lachesis Protocol” to maintain record-keeping across its blockchain. 

The mission of FANTOM is to provide compatibility between all transaction bodies around the world and to create an ecosystem that allows both real-time transactions and data-sharing at a low cost.

Fantom is a directed acyclic graph (DAG) smart contract platform that provides decentralized finance (DeFi) services to developers using its bespoke consensus algorithm.

It is an open-source decentralized smart contract platform for DApps and digital assets, created as an alternative to Ethereum. Fantom seeks to overcome the limitations of previous generation blockchains by balancing scalability, security, and decentralization. 

The platform's in-house token, FTM, powers the ecosystem and is used for payments, network fees, staking, and governance. 

Fantom's mission is to grant compatibility between all transaction bodies around the world, striving to provide higher scalability at a lower cost.

Bitcoin

Bitcoin (CRYPTO: BTC) traded higher, with the cryptocurrency prices trading above the $30,500 level on Monday. Ethereum (CRYPTO: ETH) also moved higher, trading above the key $1,600 mark this morning.

Bitcoin Tops This Key Level; Fantom Emerges As Top Gainer

The Fantom Foundation, the developer of the Fantom network, has been hacked, resulting in the theft of nearly $550,000 in cryptocurrencies.

Fantom Foundation Wallet Hacked For Over $550K

The foundation behind the Ethereum (ETH) rival Fantom (FTM) just suffered a major exploit, according to blockchain security experts. According to posts on social media platform X from CertiK Alert, wallets belonging to the Fantom Foundation have just been drained of ETH and FTM.

Fantom Foundation Hacked for Over $7,000,000 Worth of Ethereum (ETH) and FTM: Report

Fantom (CRYPTO: FTM) blockchain's foundational wallets have reportedly experienced a significant breach, according to blockchain security expert Certik. The breach led to the loss of $470,000 from their FTM wallet and $187,000 from the Ethereum (CRYPTO: ETH) platform, causing a subsequent 4.8% dip in FTM's value to $0.1778.

Fantom Foundation Wallets Hacked: $657,000 Gone In A Flash

The foundation wallets of the Fantom blockchain have been drained on both Ethereum and Fantom, according to blockchain security analyst Certik.

Fantom Foundation Wallets Drained; $657K Stolen

A Fantom Foundation employee lost millions of dollars worth of crypto today in a hack, as confirmed by Andre Cronje.

Fantom Foundation employee loses at least $7 million of crypto in exploit

A closely followed crypto strategist is warning that an Ethereum (ETH) challenger that's down about 65% this year will likely witness more sell-off events if the altcoin loses its immediate support.

Analyst Says One Ethereum Rival Looks Abysmal, Warns To Watch Out Below if Altcoin Loses Key Level

Avalanche

Chainlink

A popular crypto trader is updating his outlook on Chainlink (LINK) as the digital asset continues to chop around. Pseudonymous trader Altcoin Sherpa tells his 196,200 followers on the social media platform X that blockchain oracle Chainlink is likely going to take months before breaking out of a persistent trading range.

Analyst Updates Outlook on Chainlink, Avalanche, Fantom and One Altcoin That's Exploded Over 700% in Matter of Weeks

Polygon

Pepe

A widely followed crypto analyst says that one memecoin will likely outperform dog-themed rivals Dogecoin (DOGE) and Shiba Inu (SHIB). Pseudonymous trader Altcoin Sherpa tells his 196,400 X followers that Pepe (PEPE) bounced off a critical support level at $0.00000122 and likely has more room to run.

Analyst Predicts One Memecoin Will Outperform Dogecoin and Shiba Inu, Updates Outlook on Polygon and Fantom

Ethereum

Last month, Celo began its pivot toward being an Ethereum Layer 2. Fantom is considering a similar move, but decries the Layer 2 terminology.

Fantom is exploring adding optimistic rollups to connect to Ethereum

Much was made of Andre Cronje's supposed return to Fantom at the end of last year, but he says it was all just optics.

Andre Cronje says he never really left the Fantom Foundation

Stellar

A widely followed crypto strategist says he has his eye on one low-cap altcoin that he believes is setting up for a move to the upside. Trader Michaël van de Poppe tells his 661,000 Twitter followers that the decentralized machine learning network Fetch.

Trader Says AI-Focused Altcoin Gearing Up for Big Breakout, Updates Outlook on XRP, Stellar and Fantom

Hector Network's HEC and TOR tokens, and its treasury, suffered major losses related to Multichain. The project is based on Fantom.

Hector Network Votes to Liquidate $16M Treasury Following Multichain, Fantom Losses

Fantom (FTM) creator Andre Cronje says that the recent exploit of cross-chain bridge Multichain was a massive setback for the Ethereum (ETH) rival. Writing in the community's forum, Cronje says that the Fantom team was misled about the true security level of Multichain.

Fantom (FTM) Founder Andre Cronje Says Multichain Hack Was a ‘Big Blow' to Ethereum Rival's Ecosystem

Litecoin

A widely followed crypto trader is expressing bullish sentiment on one top-100 altcoin while updating his outlook on Ethereum (ETH) and Litecoin (LTC). Pseudonymous analyst Bluntz tells his 223,600 Twitter followers that Fantom (FTM), which is currently ranked 53rd-largest by market cap, is on the cusp of a rally.

Top Analyst Says One Mid-Cap Altcoin on Cusp of Skyrocketing Higher, Updates Outlook on Ethereum and Litecoin

The Foundation endorsed Axelar and LayerZero as alternative bridging solutions for their network following the issues with Multichain.

Fantom Foundation endorses Axelar and LayerZero bridge solutions amid Multichain concerns

Bitcoin (CRYPTO: BTC) moved lower, but the cryptocurrency prices remained above the $30,000 level on Friday. Ethereum (CRYPTO: ETH) also recorded losses, trading below the key $1,900 mark this morning.

Bitcoin, Ethereum Record Losses Following Jobs Data; Pepe, Fantom Among Top Losers

“It is recommended that all users suspend the use of Multichain services and revoke all contract approvals related to Multichain,” developers said early Friday.

Multichain Team Confirms Exploit Across Fantom, Moonriver and Dogechain Bridges

Tens of millions of dollars of tokens have been withdrawn from the Multichain bridge on the Fantom network in a possible exploit.

Tens of millions of dollars withdrawn from Multichain on Fantom in possible exploit

Arbitrum

A widely followed crypto strategist thinks that Ethereum (ETH) competitor Fantom (FTM) is primed for a significant move to the upside. Analyst Michaël van de Poppe tells his 659,600 Twitter followers that Fantom looks bullish as long as it is trading above $0.30.

Crypto Analyst Predicts Rallies for Ethereum Rival Fantom, Updates Outlook on Three Additional Altcoins

A widely followed crypto analyst is breaking down Bitcoin (BTC) and altcoins after a week of sideways price action for crypto. Crypto trader Michaël van de Poppe tells his 659,500 Twitter followers that BTC is now moving into a “potential scenario for a long trigger.” “Well, we got the sweep for Bitcoin.

Crypto Analyst Breaks Down Bitcoin (BTC), Fantom (FTM), Litecoin (LTC) and the Altcoin Markets

The actions showcase how Multichain's faltering infrastructure and AWOL CEO are sending shockwaves through Fantom, the blockchain most heavily dependent on Multichain's bridges.

As Multichain Wobbles, Some Fantom-Based DeFi Projects Flee Bridged Tokens

The move is part of an initiative to drive demand for block space, which help add to the value proposition of ftm tokens.

Fantom Will Pay Back 15% of Token Fees to Some Projects

Multichain has issued 35% of Fantom's assets, including 80% of its total stablecoin market cap, according to research firm Thanefield Capital.

Panic Over $1.5 Billion DeFi Bridge Multichain Shifts to Fantom

Cryptocurrency exchange Binance has temporarily halted deposits of 10 specific tokens Thursday, a move prompted by ongoing problems with the Multichain Bridge initiative. Tokens impacted by this suspension are primarily used on the BNB Smart Chain (CRYPTO: BNB), Fantom (CRYPTO: FTM), Ethereum (CRYPTO: ETH), and Avalanche (CRYPTO: AVAX) blockchain networks.

News for Fantom Crypto (FTM)