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With the constant shifting tides from bearish to bullish runs, we find that our top contenders for cryptocurrency are struggling once again to maintain their ranks, and yet, something happens that overturns the market. One example is the Fantom project which recently announced its integration with 123swap‘s uniquely designed framework: non-custodial, cross-chain, and decentralized.
Blockchain technology when applied to crypto ecosystems offers opportunities and benefits businesses through greater transparency, increased security, and easier traceability. Capitalizing on its power calls for seamless integration with other back-end legacy systems to facilitate better outcomes which is the awaited outcome here.
Here’s how the blockchain process applies to almost every industry, giving rise to wide interest and investment in blockchain technology integration over the past few years.
In this article, we will focus on how this integration of two blockchain ecosystems can be beneficial to the Fantom ecosystem. This recent event can help FTM gain wide acceptance among crypto stakeholders, and cause FTM’s upward price movement.
What is Fantom(FTM) token?
Fantom (FTM) is one of the highest gaining tokens in the market. It is the governance token of a directed acyclic graph (DAG) smart contract platform, known for eradicating the issues related to smart contract contracts.
The platform provides higher transaction speed, with great infrastructure backing up the platform. Fantom was created in 2018, but the mainnet OPERA of the platform came out in December 2018. The platform creator was Dr. Ahn Byung Ik, but currently, the CEO is Michael Kong.
The Fantom team provides increased scalability, decentralization, and security and specializes in full-stack blockchain development. Fantom is a fast, high-throughput open-source smart contract platform for digital assets and dApps using a new scratch-built consensus mechanism.
A unique feature of Fantom is the Lachesis mechanism, which is responsible for 2-second transaction finalization and also brings several improvements to the existing proof-of-stake consensus.
The native token OF Fantom blockchain (FTM) aims to “grant compatibility between all transaction bodies around the world.”
Fantom (FTM) price historical performance
Looking at the price rise of FTM in recent weeks, the token seems to be a good investment. FTM price was bearish during the initial phase, where the token started at $0.02 and dropped as low as $0.003 in the subsequent weeks. While investors lost their money, prices again turned bullish a few weeks later.
In May 2019, prices once again entered the $0.02 levels. After continuing in this zone for a while, the prices again dropped towards $0.003 and further. The bearish prices of the token continued to maintain until the onset of the 2020 bull run. The bull run extended the price action even more.
The prices once again knocked $0.02, and from thereon, the price action remains bullish. In 2021, the prices turned even more bullish as Fantom price began its journey towards $1. The Fantom price today in the crypto market remains at $2.02.
The bulls took the prices even higher in 2021. The FTM token made its all-time high at $0.916 in the month of May. The current market cap of the token at that time was $476 million. In July, the prices reached as low as $0.12. This bearish momentum was followed by a bullish outburst as FTM broke resistance levels, finally reaching another all-time high of $1.66.
The token dropped once again in September to $0.98, making another all-time high at $2.33. However, the prices again turned bearish, dropping to $2.02 in October, finally making the latest all-time high at $3.48.
The FTM market cap currently rests at $5.1 million and continues to increase. The trading volume is 519,925,308.70 USD, while the prices are down by 1.36%. The current price of the token is around $2.
Trend Analysis
On the other hand, the technical analysis of the daily chart shows that the prices broke down from the lower end of the Bollinger Bands, causing a drop in the token prices. Moreover, the uptrend was broken due to this breakout.
The price action continues to progress below the 50-day Moving Average. However, the price action is still above the 100-day Moving Averages. This seems to be a small bearish trend in the price action on the whole.
Furthermore, the prices continue in the lower end of the bands, indicating that the token is correcting the gains in the past few days.
Long Idea for FTM on the lower timeframe indicates golden Fibonacci retracement and break of descending channel.
Higher timeframe indicates FTM has reached previous ATH support and golden Fibonacci, which may lead FTM to break a new high.
Target short-term = $2.7
Target long-term = $4.5 (1.618 fib extension)
Fantom (FTM) price predictions
In this section, we will discover the Fantom price forecast by major websites and analysts. The cryptocurrency market is known for its volatility, and Fantom Foundation native token FTM is also subject to the same price changes.
WalletInvestor Fantom price prediction
According to the Fantom FTM price prediction by WalletInvestor, the FTM prices will turn bullish in the short term, breaking several resistance levels. As per their data, the prices will reach as high as $4.041 in a year from now. On the other hand, the 5-year analysis for FTM/USDT predicts the future price of $12.2.
WalletInvestor further said that by December 2021, the maximum price is $2.451, followed by a minimum of $2.131 with an average price of $1.823.
The smart contracts platform’s widespread adoption hints at a bullish trajectory in the near future for cryptocurrency.
The website’s price prediction for 2022 December shows an average price of $4.175, a minimum price of $3.753, followed by a maximum of $4.583.
For December 2023, the FTM coin price prognosis reveals an average price of $6.216, a minimum price of $5.408, followed by a maximum price of $7.005.
The WalletInvestor FTM price forecast presents an average price of $10.302, a minimum price of $8.367, followed by a maximum price level of $12.305.
Fantom FTM price prediction
WalletInvestor long term price targets
Fantom price prediction by DigitalCoinPrice
FTM’s price prediction 2021 depicts a bullish outburst like another coin in the DeFi industry. The price of FTM will be affected by the long-term increase, and as per the price prediction Fantom from DigitalCoinPrice, the coin will break the $3 resistance level, entering $3 for 2021.
For 2022, the expected value is 3.6 USD, followed by a high level of $4.27 for 2023. As multiple decentralized applications find their place on the FTM chain, investing in FTM holds is one of the best investment decisions you can make.
The token will end in 2024 at $5.4, followed by 6.44 USD for 2025. The price of Fantom will continue to follow a bullish trajectory, ending the year 2028 at 9.44 USD.
Fantom (FTM) price prediction by TradingBeasts
According to the price prediction by TradingBeasts, Fantom will continue to grow in the short term and the long term.
The analysis shows that Fantom (FTM) will end the year 2021 at a maximum of 3.10228 USD, followed by a minimum of 2.10955 USD and an average of 2.48182 USD. Furthermore, the prices for 2022 are given in the image below:
In the long term, the maximum value of the FTM token by 2023 December will be 3.30281 USD, followed by a minimum of 2.24591 USD. On the other hand, the maximum price for December 2024 is 3.94817 USD, followed by a minimum of $2.68476. The average price is put at 3.15854 USD.
Conclusion
The Fantom price analysis can be concluded on a bullish note for the year 2021. However, the token is not a one-time wonder. We will see higher FTM prices coming shortly and new all-time highs.
According to our financial analysts, FTM is one of the best digital coins to buy. However, another important piece of investment advice is to do your own research.
The token currently stands at 42 in the top 50 cryptocurrency list. However, we might see it climb higher as Bitcoin continues to dictate the price action of the crypto market.
FAQs
What will Fantom be worth in five years?
According to DigitalCoinPrice, the price of the token will be worth $7.62. On the other hand, the token will breach $9 by 2028.
Will Fantom hit 20 USD in a year?
As per our current analysis, in order to reach 20 USD, Fantom needs to grow by more than 10x. It is not impossible but improbable to expect such high prices in a single year from any cryptocurrency.
Will Fantom crash?
Fantom will not crash as it is a strong DeFi token with great use cases and widespread adoption.