Nonetheless, when zoomed out and viewed, the macro-uptrend still remains in-tact. In fact, minor deviations like the one just observed are a part and parcel of any ecosystem’s growth-spurt phase. Fantom’s TVL that made rapid strides over the past few days has started fumbling now. At press time, this number was seen revolving around $5.12 billion when compared to its 9 November highs of $6.15 billion.
Crypto analyst and influencer “Guy,” who hosts the popular YouTube channel “Coin Bureau”, says that $FTM, the native token of Ethereum competitor Fantom is poised for major gains. FTM/USD increased from around $0.15 in late July, to $3.50 by the end of October.
Cryptocurrency Fantom Up More Than 17% In 24 Hours
The live Fantom price today is $1.54 USD with a 24-hour trading volume of $475,355,138 USD. The current CoinMarketCap ranking is #41, with a live market cap of $3,920,639,016 USD. It has a circulating supply of 2,545,006,273 FTM coins and a max. Blockchain algorithm being the center stage of this cryptocurrency, the entire phenomenon and fundamental focus of this cryptocurrency is the programmability. This allows the users to benefit from a digital money perspective and use Fantom for all marketplace transactions such as financial services, apps, games, to name a few, which can be built on the platform. As explained above, Fantom enables developers to formulate and work on smart contracts automatically implementing assignments under specific conditions.
With a keen eye on the Indian economic ecosystem, Lavina Daryanani’s writing predominantly revolves around crypto-happenings in the Asian markets. She has a strong background in journalism and a personal inclination towards business and financial reporting. The alt’s transaction volume was hovering around $244 million when compared to its 13 November’s $31 million lows.
Experts View On Fantom Ftm Price Forecast
Their technology and team look rock solid and their ecosystem looks all posied to flourish in 2021 and thereafter. Fantom also has a strong team supporting their strong open-source vision and comprises engineers, scientists, researchers, designers, and entrepreneurs. Enough of the tech discussion, for now, it’s time to move forward and see what are some of the popular Defi, Dapps projects are leveraging Fantom to power themselves. You can also become a delegator if you don’t have the required FTM token to the stake, you just need 1 FTM to do so.
“Established Ethereum projects can be moved over and traded with Fantom’s sub-second finality and for gas fees of just a few cents,” said The Fantom Ecologist. “As ever, the golden rule of crypto is never to invest an amount that you’re not willing to lose in its entirety, so don’t bet the house on it.” This type of investment is also not protected by the regulator which means you have no protection if things go wrong. Further, Fantom uses a technology called DAG – Directed Acyclic Graph. That, in itself, is an added advantage for the protocol as it tends to improve both speed and efficiency. All services are free, so you to take advantage of the opportunities that Forex trading offers.
What Is Fantom & Ftm Token? Why It Can Be A Dark Horse?
The coin has managed to move above the 25-day and 50-day exponential moving averages while the Relative Strength Index moved from about 30 to the current 56. Fantom is a blockchain platform primarily based on Directed Acyclic Graph expertise utilized by IOTA and Hedera Hashgraph. As early as 2019, the ranking firm Weiss named Fantom as one among the higher crypto currencies than Bitcoin. So Fantom is the ideal blockchain platform for DeFi applications. That’s where the demand is now, and Fantom elevates the user experience compared to other platforms. Smart Cities are quite far out in the future; Fantom will be ready for them.
Fantom is a high-performance, scalable, secure & directed acyclic graph smart contract platform, designed to overcome the limitations of old-generation blockchain platforms. Fantom has been increasingly bullish in the last few months, as it attracted a lot of attention with the Fantom Developer Conference in Abu Dhabi.
Global Blockchain Market Is Projected To Reach A Value Of Over Usd 203 2 Billion By 2027
The real beauty of blockchain lies in the way their smart contracts are being used to build more advanced, secure, and reliable Decentralized apps & financial solutions. The more I read it the more I am fascinated and the more curious I am becoming. To manifest this curiosity today we will discuss Fantom & FTM tokens. The trading volume for the coin has climbed 22.0% over the past week, moving opposite, directionally, with the overall circulating supply of the coin, which has decreased 0.17%. This brings the circulating supply to 2.54 billion, which makes up an estimated 80.04% of its max supply of 3.17 billion. According to our data, the current market cap ranking for FTM is #40 at 5.57 billion. CoinGecko provides a fundamental analysis of the crypto market.
This represents an encouraging one-two punch of positive news from Fantom. In its bi-weekly operational update on Monday, Fantom said that since the launch of its Incentive Rewards Program for developers, its total locked value has risen by over 600% to $5.1 billion. Meanwhile, last week it was revealed that total daily transactions hit a new record, at over 1.8 million. 123swap, one of numerous platforms that allow cryptocurrency holders to — yes — swap their assets with relatively little friction, is integrating with Fantom. Being part of the 123swap ecosystem should raise the visibility of Fantom, and make it more attractive as a potential asset involved in swaps. The four-hour chart shows that the FTM price has been in a strong bullish trend in the past few days. It has pared most of the loses made in the past few days and is still about 25% below its all-time high.
You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money. Fantom lowers the cost while increasing the performance of decentralized apps via Lachesis, a directed cyclic graph -based deterministic algorithm that runs the Opera mainnet of Fantom. Fantom price has been on the rise since Monday November 22 after it unveiled a partnership with 123swap decentralised exchange. Fantom is one of the few integrated platforms which also has strong support for the Defi ecosystem. Fantom has also cracked one more collaboration with the Afghanistan government’s, ACCI. Lachesis follows leaderless Proof-of-stake consensus that ensures a higher level of security, by removing any trusted leaders.
Will FTM coin go up?
The FTM price forecast from DigitalCoin says the coin may average $6.41 by 2025, up from an average of $3.58 in 2022. By 2028, it predicts the price could average $9.39. The long-term FTM price prediction from Price Prediction sees the coin possibly reaching an average of $12.21 by 2025 and climbing to $81.37 by 2030.
Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Fantom. Investment Analysis Historical performance and stats for all cryptocurrencies.GitHub Analysis Development activity on Github for open source cryptocurrencies.
Defining a user profile – in order to display custom-tailored content in advertising networks. In the case of the chart, it is not possible to add many parameters . Racing up to climax will not be hence so difficult for Fantom FTM as additional short-, medium-, and long-term price targets can be found to buy or sell FTM/USD.
Questioning an investing thesis – even one of our own – helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Fantom has also created an all-in-one DeFi suite that helps people mint, trade, lend, and borrow digital assets. These solutions are known as liquid staking, fMint, fLend, and fTrade.
Fantom Looks Primed For Higher Highs
We have seen a deep pullback in this cryptocurrency; after breaking the first support zone at around $2,50, it fell below $2,00, which was the second support area. But the 100 SMA came to the rescue and held the decline, acting as support.
Every time FTM has risen to this technical formation’s upper trendline, it has been rejected and retraced to the pattern’s lower edge. From this point, it tends to rebound, which is consistent with the characteristics of a parallel channel. If you would like to know where to buy Fantom, the top cryptocurrency exchanges for trading in Fantom stock are currently Binance, Mandala Exchange, OKEx, FTX, and Bybit.
As an alternative to Ethereum, Fantom uses an asynchronous Byzantine Fault Tolerant consensus model to validate transactions. This not only facilitates accessibility and security but also results in minimal fees and near-instantaneous transactions. Lachesis, its revolutionary aBFT consensus mechanism, allows Fantom to be much faster and cheaper than older technologies, yet highly secure. The four-hour chart shows that the Fantom price has been in a major bullish trend in the past few days. The FTM price is approaching its all-time high, bringing its total market capitalization to more than $4.2 billion. It is the 42nd biggest cryptocurrency in the world and there is a possibility that it will be the next big thing.
- Developers have been eager to leverage Fantom’s high speed (1-second transaction finality) and low gas fees to power their applications.
- The FANTOM platform adopts a new protocol known as the “Lachesis Protocol” to maintain consensus.
- A spike in selling pressure that pushes FTM below this crucial demand barrier could invalidate the optimistic outlook, potentially leading to a 20% retrace toward $1.90.
- The author has not received compensation for writing this article, other than from FXStreet.
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The platform helps developers build decentralized applications and decentralized autonomous organizations Fantomcoin . To put it in simple terms, I see a future where blockchain adds value to people’s lives.
Author: Jacob Passy