As the fiat currency goes through a downturn in the world economy, cryptocurrency is gaining momentum. DeFi (decentralized finance) has become popular, and blockchain-based cryptocurrencies are ruling over their crypto market.
On top of that, several financial giants are announcing partnerships and big investments.
Fantom is currently surging with $15 million of investment, and they have been performing miracles in the crypto market.
What is Fantom (FTM)
According to Fantom’s official website, the project provides a platform to build and deploy DAPPs. It also offers non-fungible tokens (NFT) as part of its ecosystem.
The Fantom Foundation intends to build infrastructure for a more democratic and efficient future. Yet, solving challenges of older blockchain projects like Bitcoin.
Fantom is looking for ways to make decentralized cryptocurrencies faster, more secure, and scalable.
Fantom (FTM): Historical Analysis
Fantom has been going through tough times, just like any other business. However, their recent success seems to be a world record in the making!
In December 2019, when Ethereum broke past $500 and moved to $900 beginning January 2020, Fantom started its gradual performance. Even though it witnessed a fall in February 2021 to a low of $0.40 after marking a new high around $0.65.
Fantom’s price has recently hit an all-time high of $0.95. This was a recovery after its drop to under 30 cents last month. The Pandemic seems to set the stage for Fantom with its outstanding performance in the crypto market.
Why is Fantom FTM going up?
Fantom, like SOL, is an Ethereum killer. It uses a Direct Acyclic Graph (DAG) smart contract platform with improved scalability and can handle more than 300k transactions per second.
FTM is powered by Lachesis, a node based on Ethereum’s blockchain.
Blockchain projects like Chainlink, Brand Protocol, and Raviton are collaborating with FTM. Consequently contributing to its surge.
Is the FTM coin a good investment?
The price of FTMs is at an all-time high. FTM saw an increase in value by 35.48% within 24 hours as it steadily climbed up its all-time high.
The FTM market cap is at USD 3.5 billion, rising by 0.3 billion since Monday. So far, it has risen by 90% in the last week and is now one of the top 40 most valuable cryptos.
Fantom Price prediction
In the opinion of investors and experts, FTM is expected to maintain its bullish trend. Riding on excitement over DeFi and NFTs in the market, it’s likely to experience another surge.
The potential of the coin to reach USD 3-4 is very high. Despite attaining a current market price of around $2.5, which could grow exponentially in years up till 2025.
Chances of the coin floating at USD 1.4 have also been put into consideration by investors. The growth of SOL and ADA could influence FTM’s future growth.