Last week on January 15, 2024, Fantom Foundation posted on X that it changed the staking requirement by 90%. FTM’s staking threshold cut from 500,000 to 50,000 FTM would effectively increase Fantom’s security.
In addition to better security, the change would make it more accessible to run a validator. The foundation said that the increase in validators on the network should discourage malicious actors from launching an attack. Here is Fantom’s post.
Fantom closed at $0.3665 recently, down by 7.5% in the last week. The SEC’s approval of a Bitcoin ETF sent Bitcoin (BTC-USD) prices sharply lower. This hurt FTM prices as a result. FTM has a market cap of $1.16 billion.
Top Five Cryptocurrency
Media often cites Fantom as a top five crypto holding for 2024. The other four most popular altcoins are Ethereum (ETH), Ripple (XRP), Uniswap (UNI), and MakerDAO (MKR). Crypto investors should look beyond the weekly price chart when evaluating their prospects. Their market capitalization is a good measure of their popularity.
With Fantom, the upgrades are relatively more appealing than the alternatives. Its efforts to strengthen network security will increase its appeal. Expect daily trading volumes to increase in the coming weeks.
Previously posted: read about Free FTM Airdrop.
