Fantom is a highly scalable blockchain that initially appealed to a lot of investors and is now facing a downfall as it had exposure to Multichain, a cross-chain bridge. A large portion of the TVL on the network comes from the Fantom blockchain, and as a result, many are speculating about the impact that the recent developments will have on the value of the FTM cryptocurrency. Investors who are cautious have made their way towards Tradecurve, a project with unique features currently in the third stage of its presale.
The Danger Behind the Future of Fantom
The Multichain network had a total value locked (TVL) at $1.76 billion, and Fantom is one of the largest contributors within it, with a proportion equating to 36.7%. The assets on Fantom are worth $1.66 billion, and around 40% of them are wrapped assets that are available on Multichain. The stablecoin that’s on Fantom is USDC, and there is a total of 191 million USDC, with 82 million USDT. This means that Fantom has a large exposure, and when Multichain crashes, so can the value of the FTM cryptocurrency.
On May 25, 2023, DeFi Researcher Ignas shared with his Twitter followers that rumors began spreading that the Multichain team was running into legal issues and got arrested. The FUD resulted in a 5x increase in daily bridging volume.
Any potential disruptions in the operations of Multichain can have a bad effect on Fnatom due to its financial situation. As of May 28, 2023, FTM trades at $0.341793. In the last 30 days, it decreased in value by 18.4%. In the last seven days alone, it saw a decrease of 6%.
How Tradecurve Grabbed the Attention from Investors
Worried about the future momentum of the FTM cryptocurrency, investors have begun to diversify their holdings with different types of cryptocurrencies, and one project that has stood out the most is Tradecurve. This hybrid trading exchange combines the best elements found in CEXs and DEXs to prevent any centralization or third parties from potentially damaging it in the long term, as is the case with other projects.
On top of Tradecurve, users are not just limited to cryptocurrencies and can also trade forex, stocks, commodities, and much more without restricting users in any way and at the lowest fees. Users can deposit a wide range of accepted cryptocurrencies and then use them as collateral when making trades.
During Stage 3 of the presale, TCRV trades at $0.015. Analysts predict that the cryptocurrency can spike in value by 50x during the presale and by 100x at launch. The team will implement Proof of Reserves (PoR) to bolster transparency and prevent future scenarios like Fantom’s current one and enable anyone to have an in-depth look into all of the on-chain data transparently.
As for its features, the Tradecurve team enabled algorithmic trading with AI, high leverage at 500:1, and a dedicated Trading Academy that will teach users everything they need to know.
Learn more about Tradecurve at the links below:
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