Messari Fantom Q1 Report: Market Cap Increased by 101% Quarter-over-Quarter, DeFi TVL Increased by 59% Quarter-over-Quarter

ChainCatcher news, Messari recently released the Fantom Q1 2024 status report, with the following key points:

• Fantom achieved month-over-month growth in several key metrics, including market capitalization (+101%), daily active addresses (+24%), USD-denominated DeFi TVL (+59%), stablecoin market capitalization (+39%), and daily DEX trading volume (+64%);
• The total amount of FTM staked increased by 17% month-over-month, reaching 1.3 billion, with the proportion of eligible supply staked also increasing by 16% month-over-month to 44.6%;
• In March this year, Fantom's DEX monthly trading volume exceeded $1 billion for the first time in the past year, with a daily average trading volume of $37.9 million in March, nearly 7 times higher than February ($5.7 million) and 6 times higher than January ($6.6 million);
• On March 25, Michael Kong, CEO of the Fantom Foundation, announced the preliminary release plan for Sonic (scheduled for Q3 2024), which includes standardized bridging, a simplified staking system, builder grants, reward programs, and standardized stablecoins;
• Five winners of the Sonic Labs incubator project were selected in Q1. Each project will receive 200,000 FTM and development support before the launch of the Sonic mainnet.