Fantom (FTM) is a token that provides a platform of the same name for global dApp developers. Founded in 2018, Fantom Foundation is the entity that oversees Fantom products.
Fantom aims to solve the trilemma of the blockchain-how to achieve decentralization, scalability and security in the network at the same time without sacrificing any of them. For this purpose, Fantom uses Lachesis, a mechanism or layer based on the Asynchronous Byzantine Fault Tolerance (aBFT) consensus.
Lachesis, especially this consensus, is based on the classic BFT and Nakamoto consensus, but the asynchronous nature of this change means faster block time and lower energy consumption than previous versions. Therefore, aBFT solves the scalability problem. The network uses Leaderless Proof-of-Stake to protect the network, and it always emphasizes decentralization.
Fantom is modular and also allows to build a separate network to deploy each dApp on Opera (Fantom’s mainnet). This increases scalability because different projects are not affected by problems that may occur in other projects. On the other hand, these networks use the same infrastructure, logic and easy communication.
FTM tokens provide support for the entire Opera and Fantom ecosystem. The main purpose of FTM is staking (to become a validator node, one must hold more than 3,175,000 FTM). FTM is also used as a currency for network fees, governance tokens, and fast and cheap transactions.
Fantom’s price trend has been unremarkable from the first year or two after the launch of the token, and began to attract attention in the first half of 2021. As the cryptocurrency market rebounds, the price of FTM is also rising, ranging from $0.01 to $0.02 at the beginning of the year. By 2021, it will exceed US$0.91 by mid-May. Of course, the cryptocurrency market later experienced a brutal collapse, so the price of Fantom tokens has been freely falling towards the direction of $0.15 until mid-July.
However, the skies of Fantom have been clear ever since, and it joined a new bull market after the July low. But after announcing its DeFi incentive program and some important partnerships, the price of FTM began to soar in early September. By the second week of September, Fantom reached $1.74, which is a record high. Judging from many Fantom price predictions, it may become an unlikely participant in the future.
Although it is almost impossible to perform 100% accurate technical analysis of Fantom cryptocurrency, on this advanced technical analysis tool of TradingView, you can view real-time aggregated FTM buying and selling ratings within a selected time frame. The summary of FTM/USD is based on the most popular technical indicators — moving averages, oscillators and pivots.
Below we have collected the most reliable price forecasts for Fantom (FTM) from popular forecasting platforms.
According to WalletInvestor, the price of Fantom will rise from $1.37 to $1.937 within one year. This makes FTM an amazing investment. The long-term profit potential is 41.39%. The forecast price at the end of 2026 is $4.383.
When answering the question of whether Fantom is a good investment, TradingBeasts answered yes. From the perspective of 2021, the price of the token is expected to reach US$1.56764 and increase to US$1.67761 by the end of 2022.
In the DigitalCoin analysis, the price of Fantom cryptocurrency will rise from today’s $1.28866 to $5.67735 in the next 5 years. By 2022, it will rise to $2.149218 and continue to grow in 2023-2024. Based on this forecast, Fantom is a profitable long-term investment.
It is clear from the analysis cited above that Fantom (FTM) forecasts are quite contradictory. There is no general consensus on whether the FTM price trend will be positive or negative in the future. In fact, the possible future growth depends on various factors: announcements, new technical solutions for the Fantom project, overall encryption environment, legal status, etc. We would like to remind you that you must conduct your own research (DYOR) before investing in any cryptocurrency.
Disclaimer: This article should not be considered as providing trading advice. The cryptocurrency market suffers from high volatility and occasional arbitrary fluctuations. Any investor should research multiple viewpoints and be familiar with all local regulations before investing.
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