Fantom Price Prediction: Why Is Fantom Going Up?

Fantom Price Prediction: Why Is Fantom Going Up? Is FTM Coin A Good Investment? Check

Fantom, which is the latest coin to be nicknamed the ‘Etherium killer’, is trading at an all-time high of USD 1.74 after jumping 35.48 per cent in a single day

The cryptocurrency market has been on the rise lately and many coins have jumped in on the surge. Fantom (FTM) has become the latest to grab attention in this surge, and the token’s bullish rally seems to get stronger by the day. Fantom can also be termed as the latest coin to be nicknamed the ‘Etherium killer’ after Solana (SOL) and Cardano (ADA).

What is Fantom (FTM)?

As per Fantom’s official website, Fantom is an advanced blockchain project that provides a platform to build customized decentralized applications (DAPPs) and non-fungible tokens (NFT). The Fantom Foundation aims to build infrastructure for a more democratic and efficient future while solving challenges faced by older blockchain projects like Bitcoin. Fantom aims to find solutions to increase the speed, security, and scalability of decentralised cryptocurrencies.

Why is Fantom FTM going up?

Fantom, like SOL which recently exploded, is termed as an Ethereum-killer and uses Direct Acyclic Graph (DAG) smart contract platform. Fantom has improved scalability and the transaction speeds can rise to more than 300k per second. FTM is powered by Lachesis powers the which is built on Ethereum’s blockchain. Owing to the fast and efficient platform, leading blockchain projects like Chainlink, Raviton, and Band Protocol have collaborated with it, causing the surge in price. FTM has been surging for over a month now.READ | El Salvador buys 400 bitcoin ahead of making it legal tender, plans to buy ‘a lot more’

Is FTM coin a good investment?

FTM’s price is at all-time high trading at USD 1.74. The demand for the ETH-killer keeps rising as FTM hits new highs with each passing day. The token jumped 35.48 per cent in the last 24 hours to hit the new high. The FTM market cap is at USD 3.5 billion, rising by 0.3 billion since Monday. FTM has soared by around 90 per cent in the last 7 days making it the 40th biggest coin in the world based on its market cap.  READ | Ethereum climbs $3,750 while Cardano (ADA) shoots up by 10% in 24 hours; Read details

Fantom price prediction

According to investors and experts, FTM is expected to keep the bullish trend and surge further. The coin, which is riding on the excitement over DeFi and NFTs in the market is bound to gain more. However, investors booking profits early could be a problem for the coin’s climb. The coin has the potential to become a USD 3-4 coin however, USD 2.5 is an average FTM could reach by 2025. Chances of the coin floating at USD 1.4 have also been put forth by investors. The growth of SOL and ADA could play a part in FTM’s future growth.

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