The Fantom crypto is very hot right now. After the sudden surge in popularity caught up with this token in early September of 2021, FTM has kept going higher and higher. So of course, many people want to know if it will last. We gathered some of the Fantom coin price predictions, so you can take a look at a possible future for the FTM crypto.
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Fantom Fundamental Analysis
Fantom (FTM) is a token powering an eponymous platform for dApp developers all across the globe. Fantom Foundation, which is an entity overseeing Fantom as a product, was founded in 2018.
Fantom aims to solve the blockchain trilemma — how to achieve decentralization, scalability, and security in a network simultaneously, without sacrificing any of them. To do that, Fantom uses Lachesis — mechanism or layer based on Asynchronous Byzantine Fault Tolerance (aBFT) consensus.
Lachesis, and this consensus in particular, build on classic BFT and Nakamoto consensus, but the asynchronous nature of this variation means faster block times and lower energy consumption than the previous versions. Thus, aBFT solves the scalability issue. The network is secured using Leaderless Proof-of-Stake, which keeps the emphasis on decentralization.
Fantom is modular and also allows for building independent networks to deploy every dApp on Opera (Fantom’s mainnet). This adds scalability since different projects are unaffected by the others’ possible issues. On the other hand, those networks use the same infrastructure, logic, and communicate easily.
FTM token powers Opera and Fantom ecosystem as a whole. The main use of FTM is staking (to become a Validator node, one must hold more than 3,175,000 FTM). FTM is also used as network fees, as a governance token, and as a currency for fast and cheap transactions.
Fantom Live Price Chart
Fantom’s price action went from quite unremarkable in the first year or two after the token’s launch to getting some traction in the first half of 2021. As the crypto market rallied, so did FTM, with its price going from $0.01–$0.02 at the beginning of 2021 to more than $0.91 by mid-May. Later, of course, the crypto market went through a brutal crash, so Fantom token price had been in free fall towards $0.15 until mid-July.
Since then, though, it’s been nothing but the clear skies for Fantom, which joined a new bull run after July lows. But FTM’s price has started really soaring at the beginning of September, following the announcement of its DeFi incentive program and some important partnerships. By the second week of September Fantom hit $1.74, which is a new all-time high. Judging by many of the Fantom price predictions, it may emerge as an unlikely player in the future.