Every once in a while, you’ll see some cryptocurrencies displaying anomalous behavior. Being the superstitious species we are, the first thing that is coming to come to our minds is that maybe the market is being manipulated in that direction. And in cryptocurrency unregulated trading, that is true in half of the cases. The currency that is displaying weird behavior is Fountain (FTN).
Fountainhead is a tech-advising company that wants to create a win-win environment for everyone involved within its content ecosystem. It is based on the proof-of-contribution system. In this system, a set of rules are made to set what will count as contribution rewards within the network. The technology of blockchain is used to record the contributions of all participants. This is in the form of tokens that are awarded to all the participants. The people are then motivated to engage more within the content ecosystem and contribute towards it.
The background behind the vision of the company is that they have realized that community applications such as Twitter and Quora do not reward users with credits or tangible rewards. Fountain wants to affix a value to the time taken by users to view posts and vote on them and the creators for creating a post that is attracting attention towards the platform.
Fountain (FTN) recognizes the need for a massive user base in order for its system to succeed. The ecology of a system needs to be constantly growing. Ethereum does not have the capability to support the growing ecology of a massive user base (Even Fountain says this, it is still built on the Ethereum blockchain. This is why Fountain has partnered up with China’s premium original content community “Jianshu”. In the course of many years of operation, “Jianshu” has accumulated a large number of active users and a large number of high-quality content, and has a vision that is highly compatible with Fountain.
Price Movement – Fountain (FTN)
At the time of writing, the value of the FTN coin, the utility coin of Fountain, is $35.70. It has had a trading volume of $1,328,514 with no change in it for the past twenty-four hours. This can mainly be attributed to the fact that China has imposed a ban on any sort of cryptocurrency trading. What is strange is the movement of the price of FTN. Just a week ago, on the 17th, the coin had a value of $0.0091, and suddenly on the 20th, the value of the coin soared to $46.53 dollars. The most plausible explanation seems to be the signing up CasperLabs with Fountainhead to develop a Jade NFT platform.