Fantom is positioned as DeFi’s rising star, capturing the attention of investors and developers in the decentralized finance space. Trading at $0.715482 per token, FTM jumped 7.32% in the last 24 hours with a 24-hour trading volume of $208.29 million. With a circulating supply of 2.80 billion FTM and a capped maximum of 3.17 billion, Fantom currently ranks #53 by market capitalization-evidently a reflection of its rising importance in the blockchain environment. Fantom has a unique architecture combined with the Lachesis consensus protocol that enables fast and scalable transactions. It’s becoming increasingly popular to use as a platform on which to deploy DeFi and decentralized applications.
What is Fantom?
Fantom is a layer-1 smart contract platform with a design to provide a highly scalable, secure, and efficient bedrock for decentralized applications. The network was the first to go live in 2018 with a unique consensus algorithm called Lachesis, inspired by a Directed Acyclic Graph. The resulting functionality of Fantom gives way to fast transaction speeds and near-instant finality, which has made it an ideal choice for both developers and enterprise use cases alike, requiring high-performance blockchain.
Why Fantom is a Rising Star
- Speed: Performing transactions in less than a second, due to the unique consensus algorithm, makes it stand out of many projects.
- Security: The consensus of aBFT allows it not only to reach very high speed but also to achieve such a phenomenal level of security that would contribute to increasing confidence when it comes to using Fantom on extensive applications.
- Interoperability: Another strong advantage of Fantom is that it supports the interaction with other blockchains. This means it can share information and values more easily than in highly compartmentalized networks.
- Fantom can be in a position to gain much importance as a complementary alternative to leading platforms by offering new ways to solve issues related to scalability, security, and interoperability. Advanced technology and a commitment to innovation make it one of the favored positions in the competitive landscape.
Factors contributing to the rise in price for Fantom
- Renewed confidence in the cryptocurrency bull market
Then, after some months of uncertainty, the cryptocurrency market started to regain its pace in September 2024. Along with other big-profile cryptocurrencies, Bitcoin went up, adding to investors’ optimistic expectations. Such a general improvement in the climate would most likely have included an increase in the prices of FTM, benefiting from improved sector confidence.
- Technical Fantom network innovations and updates
It is also important to note the continuous development taking place on the Fantom network, which has contributed much to FTM’s growth. The developers of the platform have done a lot in reworking the scalability, security, and interoperability of the network with other blockchain systems. Most importantly, the inclusion of interoperability tools with Ethereum and other networks has made Fantom an attractive platform for dApp creators and those looking to migrate from other blockchains.
- Improved Technical Sentiment
Technically, FTM has had a strong rebound following multi-month lows in early September. According to technical analysts, the price of FTM reached an oversold level, which set up the way for its natural rebound.
Fantom Price Prediction 2030
While FTM is 71% up within the last 30 days, many are want to know in whether the trend will go further. Though nobody can predict a future price of such a volatile asset as FTM, there are some signs that at least the short-term outlook might be bullish for this asset.
Every year, experts in cryptocurrency come up with forecasts for the price of Fantom. FTM is expected to range from $5.53 to $6.60 this year, 2030.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments are highly speculative and volatile, and prices can fluctuate significantly. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. The author and the platform do not assume responsibility for any financial losses incurred from investing in cryptocurrencies.
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