The Fantom blockchain aims to solve standing problems in smart contract platforms. This direct acyclic graph (DAG) platform claims to process smart contracts faster than its predecessors. With its in-house token FTM, Fantom has reportedly reduced transaction speed to less than two seconds. As such, Fantom might have a bright future in the industry. But what are the actual perspectives of this blockchain and its FTM token? Let us discuss it in this Fantom price prediction for the coming years.
What Is Fantom?
Fantom is an open-source, decentralized smart contract platform launched in 2018. It facilitates the development of decentralized finance (DeFi) applications, similar to Ethereum. Fantom’s mainnet, Opera, was launched in December 2019. This project aims at solving the blockchain trilemma involving scalability, security, and decentralization.
Fantom is a Layer-1 (L1) blockchain using a new consensus mechanism called Lachesis, which facilitates smart contracts. Lachesis is an Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) protocol, which maintains the efficiency and security of the entire network while providing maximum speed. This blockchain consensus layer can be connected to any distributed ledger. Developers can transfer their Ethereum-based decentralized applications (DApps) to Fantom through the Ethereum Virtual Machine (EVM) supported by Opera.
FTM is the Fantom blockchain’s native utility in-house token, powering the entire ecosystem. It is primarily used for payments, network fees, and staking. FTM also has a governance role since holders can vote on the network’s future decisions.
Fantom (FTM) Overview
As of July 16, 2023, FTM was the 54th most valuable cryptocurrency by market capitalization, according to CoinMarketCap. The table below summarizes other relevant data for the same date.
Fantom (FTM) Past Price Analysis
FTM launched in 2018 with an open price of $0.02. This token price did not show any significant move through most of 2019 and 2020. On March 13, 2020, FTM traded at its all-time low of less than $0.002. At the beginning of 2021, FTM sold at around $0.02. In February of that year, the FTM price reached nearly $0.9 before falling back down. In May, the price spiked to $0.95. However, it quickly dropped back. FTM rallied again in August, ending with the all-time high price of $3.5 on October 28. Over the following weeks, the FTM price dropped again, reaching approximately $1.3 on December 13.
The FTM token performed well during Q1 2022. On January 17, 2022, the FTM price climbed to nearly $3.4. However, after such an impressive hike, the price progressively dropped in the following months. On April 25, the FTM price dipped below $1. The downtrend did not cease, and the FTM price bottomed at $0.2 on June 13. Despite minor fluctuations, FTM ended 2022 at approximately $0.2. In 2023, the FTM token showed some signs of recovery during Q1. On February 3, FTM reached a maximum of $0.65. But the token could not maintain that price. On May 10, it traded at $0.3. As of July 16, 2023, FTM sells at around $0.27 per token.
Fantom (FTM) Price Prediction 2024-2030
Fantom Price Prediction 2024
In 2024, the uptrend will continue. PricePrediction expects an average FTM price of $0.46, with a potential maximum of $0.53. BitcoinWisdom forecasts average and maximum prices of $0.59 and $0.67, respectively. For its part, DigitalCoinPrice indicates the average FTM price in 2024 will be $0.65, which could reach $0.68. Hence, your FTM investment at the current trading price of $0.27 could grow by +151%.
Fantom Price Prediction 2025
Fantom will approach the $1 line in 2025. PricePrediction indicates an average FTM price of $0.7 and a maximum of $0.8. For its part, BitcoinWisdom expects FTM to trade at $0.85 on average in 2025, possibly reaching $0.93. DigitalCoinPrice forecasts an average price of $0.93, with a maximum of $0.98. So, your FTM investment at the current $0.27 could increase its value by +263%.
Fantom Price Prediction 2030
FTM will be back on track and reach new highs in the long run. BitcoinWisdow expects this token to trade at $2.2 on average in 2030, possibly reaching $2.3. For its part, DigitalCoinPrice predicts an average price of $2.75, with a maximum of $2.8. PricePrediction is significantly more optimistic, indicating an average price of $4.2 and a maximum of $5. With these new highs, your FTM investment at the current $0.27 could grow by +1,751%.
Conclusion
Fantom is a platform for developing DApps and running smart contracts with speed and security without compromising decentralization. As such, Fantom is a frontrunner in improving DeFi products and transactions. Hence, FTM is a relatively safe investment that can yield good returns in the long term. However, despite the optimistic price predictions for this token, it is recommended to research this asset thoroughly before investing.
FAQ
Is Fantom a good investment?
It might be, particularly as a long-term investment.
How many Fantom coins are in circulation?
As of July 16, 2023, there were nearly 2.8 billion FTM in circulation.
Where can I buy FTM?
Several exchanges list the FTM for trading. However, LetsExchange.io offers some of the most competitive rates in the market without mandatory registration.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.
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