According to a report released by Messari, 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.
Proposal 34 was passed to reduce the minimum stake required to validate from 500,000 FTM to 50,000 FTM, aiming to increase staking participation and decentralization. Active validators were 61, with a total staked of 1.3 billion FTM (~$400 million).
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,…
