Simone Pomposi From Fantom Foundation Explains How Fantom Will Change The Defi Space

Starting with a minimum of $1.2 in the long term, it may cross $1.5. With partnerships and community funding, the trading market looks back at FTM/USD to perform, reaching a level of $0.88, which is quite optimistic but surely feasible. Sign-up to receive the latest news and price data for Fantom and its competitors with MarketBeat’s CryptoBeat newsletter. Fantom has surged to new highs as the race to secure a place in the multi-chain future intensifies.

As per data from IntoTheBlock, the number of FTM tokens bought over the past three hours had exceeded the number sold by a more than 4 million. Crypto watchers believe, merely being a part of the 123swap ecosystem would increase Fantom’s traction and would make it more appealing as a potential swapping asset.

Security: Proof

Crispus is a writer from Nairobi and covers cryptocurrency news for Bankless Times. He has almost a decade of experience producing analysis, with bylines at SeekingAlpha, Forbes, InvestingCube, Investing.com and MarketWatch. Additionally, Fantom security doesn’t depend on other networks, and we provide some of the most effortless ways for anyone to migrate to the Fantom chain. There are bridges such as Multichain.xyz and SpookySwap that help users transfer their assets onto Fantom. We’ll soon also have a completely revamped Fantom wallet with several cutting-edge features. And we’re also planning to expand our tech applications with new DeFi projects. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage.

Fantom still looks bullish despite the heightened volatility in the cryptocurrency markets. The Layer 1 blockchain’s FTM token has rebounded from crucial support with little to no resistance ahead. It has a circulating supply of 2.5 Billion FTM coins and a total supply of 3.18 Billion. If you are looking to buy or sell Fantom, Binance is currently the most active exchange.

The aim is to allow applications built on top of the FANTOM OPERA Chain to enjoy instant transactions and near-zero transaction costs for all users. The mission of FANTOM is to provide compatibility between all transaction bodies around the world and create an ecosystem that allows real-time transactions and data sharing at a low cost. Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology. This modularity and independent network layer make the Dapps lying on the fantom platform have their own custom tokens, tokenomics, and governance protocols. All of these apps networks are interconnected into Lachesis, Fantom’s uber-fast aBFT consensus, helping each of those apps to benefit from the speed and security of the underlying technology. It is the secure and fast environment that allows developers to build decentralized applications on top of it. Of course, with all the growth, investors are going to be looking for low cap ecosystem plays with massive potential.

The author has not received compensation for writing this article, other than from FXStreet. Fantom Network is safe as it uses a bespoke variety of proof-of-stake algorithm to provide services and secure its network. MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Fantom produces its own wallet software that is available for download on its website, which allows you to store Fantom on your computer. It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi.

Predictions And Analysis

Fantom works by recognizing the limitations of the current blockchains in the crypto world and planning on how to overcome them. The FTM platform is decentralized, scalable, permissionless, and open-source with an advantage over other major blockchains. Today, the price of FTM is up 10% to trade at $2.38 with a 24-hour trading volume of $1,212,936,814. The most notable factor that is driving the Fantom price higher today is that the TVL of AnySwap has jumped by more than 50% in the past 24 hours to more than $1.56 billion. AnySwap is a cross-chain network that allows people to swap coins on any network. Fantom is an Ethereum-killer that has been around for the past few years. The platform enables developers to build decentralized applications such as those in the DeFi industry.

A platform’s TVL would have to stay above the time average of $ 5,000,000 or $ 100,000,000 for an extended period to apply for a reward. As the FTM price rally slows down, the token is still rising steadily. The announcement of the new incentive program gave the Fantom token an enormous enhance because it rose 50% a day in the past. FTM trading began at $ 0.57, in response to CoinGecko, however the token rose to a each day excessive of $ 0.88 shortly after the Foundation unveiled a brand new program to assist defi builders in the ecosystem. As you can see, we stand out in several major aspects of blockchain platforms, which sets us apart.

Market Stats, Fundamentals & Tokenomics:

The full document to read the Tokeneo privacy policy is available in this document. This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the “Website” or “Service”). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah – Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates. Invalidation of the long setup would occur if the following short trade idea were activated. Fantom price is trading over 23,000% higher from November 2020. Yearn Finance, one of the earliest DeFi protocols, is expanding to the Fantom network.

• Weiss Research, an investment research firm that rates cryptocurrencies, has given Fantom an overall rating of “C-“, a technology and adoption rating of “C-“, and a market performance rating of “D+”.
• That ecosystem is apparently experiencing a significant growth spurt.
• The network is super popular with numerous projects built on it; given the advancements are maintained, we can see Fantom FTM price on the chart to soar to $0.70, making it a new high.
• FTM exists on several protocols, with ERC-20, BEP2 and Fantom’s own OPERA tokens all circulating.
• Fantom is one of the few integrated platforms which also has strong support for the Defi ecosystem.

The FTM token has put in double-digit gains following the launch of the DeFi protocol Geist Finance. Geist Finance Launch Boosts Fantom Fantom has surprised traders with another parabolic rally…. If you are interested in purchasing Fantom and want to know the best cryptocurrency exchanges, follow this link to Benzinga Money. FTM exists on several protocols, with ERC-20, BEP2 and Fantom’s own OPERA tokens all circulating.

Fantom is a smart contract platform that offers speed, scalability and security in the blockchain industry. It is one of the fastest blockchains, and it has attracted many projects, hence the bullish momentum. Fantom not only features smart contract functionality but also offers a safe and highly secure system of transaction and trading with no middlemen involved. The company’s Hyperblocks subsidiary runs validators that help secure the Fantom blockchain.

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Correction took place, we got stirred BUT not too shaken and perhaps it is time to ‘Buy yet another Dip’. After all, this correction felt a bit like a ‘Black Friday’ kind of discount before we enter the Xmas season…. FANTOM has been one of our favorite posts the last 2 months and yes, it went really well. For example, this week Edgelon coin was launched just hours after Elon Musk changed his name on Twitter to Lord Edge.

In addition to tracking price, volume and market capitalisation, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics. Fantom is currently the #41 cryptocurrency by market cap at $3.9B USD. Trading volume for Fantom over the last 24 hours is $475.3M USD. The most common news source covering Fantom is FANTOM Twitter and the most common news category is Project Announcements. FANTOM is a Directed Acyclic Graph-based smart contract platform that solves the issue of scalability and confirmation time of the existing blockchain technology. Today, the price is bouncing off that support zone, and DOT/USD has increased above $40 again, so the retreat seems complete.

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With directional bias and choppy price action, BTC is likely to experience massive volatility as the situation resolves over time. If not otherwise explicitly mentioned in Fantomcoin the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.

Fantom holds immense potential to tap into its technology and be applied in our day-to-day lives so that people can truly explore and benefit from crypto. The main purpose of the Opera mainnet is to enable the use of smart contracts through Ethereum’s EVM , this can be seen as an evolution from the standard blockchain.

Fantom Price Forecast 2025

Fundamental Analysis Key factors and information to perform crypto fundamental analysis. Staking forms an important part of tokenomics, with a proportion of the supply reserved specifically for staking rewards to users who hold FTM. The platform’s compatibility with Ethereum means that users can purchase an ERC-20 standard FTM, which is automatically converted to native FTM once received to their wallet. Another version of FTM is available on Binance Chain using its BEP2 standard. Only the native FTM can be used on the Fantom OPERA mainnet itself. FTM is a proof-of-stake token which in fact exists in several incarnations. Change the wallet network in the MetaMask Application to add this contract.

We are thinking of buying this cryptocurrency today – follow it on our Forex signals page. Polkadot has also seen a lot of interest throughout the crypto industry, as the parachain auctions went live earlier this month, and we already have a winner. Yesterday, Acala which is a decentralized finance protocol on the Polkadot network, said that it had won the first Polkadot parachain auction. The crypto market started pulling back late last week, among profit-taking, after the strong surge in the first few days of the week. The pullback was slow last week, but this week it has picked up pace, and we have seen some decent levels being broken to the downside in many major cryptocurrencies. But the decline might have come to an end now, as we are seeing a reversal today, with Fantom and Polkadot beginning to resume the uptrend already. Companies can build Fantom-based private/permissioned blockchain networks using its plug-and-play feature.

What Is Fantom & Ftm Token? Why It Can Be A Dark Horse?

There’s immense potential for greater things to happen, so now is the time for you to join the bandwagon. Fantom, too, grew exponentially both in scope, adoption, and user base. Fantom doesn’t make any trade-off between scalability, decentralization, and security. And if that wasn’t enough, we ensured that the network is EVM compatible so that developers can use Solidity, Vyper, and other tools used on Ethereum on Fantom as well. If we consider tech exclusively, then yes, we have accomplished the goals we had set for ourselves. However, there’s always more to leveraging the tech to improve the applications and services.

Well, keeping the price rise narrative in mind, it can be said the buy-side bias has been overshadowing the sell side of late. Basically, the alt’s price has been rising on the back of the aforementioned 123swap partnership announcement. Even though some argue that the same might be short-lived, the state of the alt’s metrics advocated otherwise. Well, liquidity draining out of the protocol is obviously not a very healthy sign.

• Trading cryptocurrencies is not supervised by any EU regulatory framework.
• According to the Motley Fool, smart contracts are used in establishing ownership of non-fungible tokens and decentralised finance .
• Policies and regulations, Fantom FTM price may have its share of hazy days.
• Fantom network is completely independent therefore there is one traffic congestion that does not affect any other part of the network.
• The current consolidation likely shows a market that is moving into equilibrium with time instead of price.
• The pullback was slow last week, but this week it has picked up pace, and we have seen some decent levels being broken to the downside in many major cryptocurrencies.

This, in turn, could rub-off well on its price over the long term. Just a day back, for instance, Fantom’s partnership with 123swap was announced. Polkadot price began turning around and moving higher on November 28. It is currently resting on support after a brief pull-back, with the potential for using this floor as a launchpad higher. A resumption of the bullish impulse will provide fresh confirmation for the new uptrend. Bank of America’s strategist made bullish remarks about the metaverse, triggering a spike in interest in Axie Infinity and Sandbox tokens.

Be wary of scams, too, as the crypto market is often a target for fraud. “If something can go up several hundred percent in a few weeks, then it should come as no surprise that it can fall just as sharply in a short space of time. Many cryptocurrencies have a short track record, making them difficult to understand and predict. Predicting what price a cryptocurrency can reach is very speculative, and they have a habit of rising and falling sharply. Ethereum is the second-largest cryptocurrency behind Bitcoin, so this would be no mean feat. The price of the coin reached a new high last month of $3.47 – that’s up from just $0.016 at the start of the year. A rise in the volume doesn’t necessarily indicate the kind of bias present in the market.

He has contributed in some of the best-known financial websites like SeekingAlpha, MarketWatch, Invezz, Daily Forex, BanklessTimes, FxStreet, and Forbes. He focuses mostly on cryptocurrencies, global equities, currencies, commodities, and indices. Crispus graduated with an MBA from Kenyatta University in 2017.

Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy. It also uses lachesis, which is a secure, fast, and scalable platforms that make it useful for developers, banks, and even governments.

Author: Kevin Helms