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What is Fantom and what is FTM coin?
Fantom is an open-source smart contract platform that offers decentralized financial services. It came into being as an Ethereum alternative focused on addressing the limitation of previous blockchains around scalability, security, and decentralization.
The project comes with a set of tools that simplify coming up and integration of decentralized applications. As a layer-2 blockchain, it facilitates DeFi and related services powered by smart contracts.
Fantom comes up with a new blockchain every time a person deploys a new project on its Mainnet. The newly created blockchains act as a layer-2 solution. The network is powered by the Lachesis protocol, which is the core consensus that secures the network while enhancing transaction speed and security.
Fantom FTM is the native cryptocurrency that powers the network. It acts as a medium on which transaction fees on the network are settled on. Fees are commonly charged on transactions, deploying smart contracts, and creating new networks.
In addition, FTM acts as governance token that entitles holders to participate in decision-making regarding the project’s future. Holders can also stake the token to help secure the network and earn rewards on verifying transactions.
Fantom FTM is the 43rd largest cryptocurrency with a market cap of $2.9 billion. The total number of FTM coins that will ever be in supply is capped at 3.175 billion. The current circulating supply stands at 2,545,006,273 FTM tokens. The total value of FTM tokens locked stands at $306 million.
Should I buy Fantom coin today: FTM market sentiment
Fantom FTM token has come under immense pressure in recent weeks after its failed breakout above all-time highs of $3.48 a coin at the start of the year. The coin has plunged to six-month lows at the $1.1 a coin level.
The coin is under immense selling pressure given that the Relative Strength Index has plunged below the 50 level to lows of 35 affirming short sellers are in firm control. With the cryptocurrency trading below the 200-day moving average, further losses should be expected in the short term.
Given that the coin has plunged to lows of $1.15 a coin, it might be wise to be extremely cautious in entering long positions. The prospect of further losses is high given that all the technical points point to further downside action. FTM token could remain under pressure until the coin bounces back and finds support above the $2 a coin level.
What is Fantom FTM price prediction for a year?
Fantom FTM coin has shed more than 60% in market value since peaking to all-time highs near the $3.48 coin level. In recent weeks, the coin has been under pressure amid the sell-off in the broader cryptocurrency market.
While the coin remains bearish in the short term, the same cannot be said about the long term outlook going by the volatile nature of cryptocurrencies. Consequently, a bounce-back is highly expected once the dust in the overall sector settles.
Estimates on Walletinvestor.com indicate that the coin could bounce back to highs of $3.28 a coin before year-end. In contrast, analysts on Digitalcoinprice.com expect the coin to average $1.53 a coin in 2022 and touch highs of $1.60 after the recent pullback.
What is Fantom FTM price prediction for 2025?
The prospect of Fantom FTM recording a new all-time high by 2025 is high. Increased blockchain and crypto adoption is one of the factors that could see the coin appreciate in value significantly going forward.
While digitalcoinprice.com indicates that Fantom FTM price could average $2.22 a coin in 2025, more ambitious estimates are in play. Analysts at Walletinvestor.com expect the coin to appreciate more than $11 a coin over the next five years.
Given the volatile nature of the cryptocurrency market, there is no doubt that FTM token could rally by more than 100% from current levels considering the 1200% price gain registered in 2021 before the coin came under pressure.
What is Fantom FTM price prediction for 2030?
Fantom FTM’s long-term outlook is bullish, going by the developments around the ecosystem and the overall crypto market. Increased use of the platform on developing smart contracts decentralized applications and enabling services on Decentralized Finance should result in significant FTM price appreciation.
Estimates at Digitalcoinprice.com indicate the coin could be worth more than $5 a coin by 2030, In contrast, technical analysis on walletinvestor.com signals FTM could appreciate to more than $11 a coin.
Fantom FTM FAQ
Will Fantom coin appreciate in a year?
Yes. Fantom has what it takes to appreciate over the next year despite coming under pressure in recent weeks.
How much will Fantom be worth in 5 years?
Fantom FTM token has what it takes to appreciate significantly over the next five years. The prospect of the coin surpassing the current all-time highs of $3.48 a coin is high. Immediate estimates indicate the coin could be worth more than $10 a coin in the next five years.
Where do I buy Fantom token?
FTM tokens can be purchased in some of the biggest exchanges, including Binance, Mandala Exchange, OKEx, FTX, and KuCoin.