Fantom is among the fastest blockchain platforms and takes just 1 second to process transactions. It has only recently entered the market but has already created an impressive ecosystem. The platform promises to be an ideal solution for businesses and traders to build crypto and financial applications.
Naturally, investors are also attracted to Fantom, hoping for good returns. Should you join them as well?
What is Fantom?
Decentralized apps are products that work without any intermediary by relying on coding, it’s the same technique crypto exchanges use to facilitate trading automatically.
Fantom allows businesses to create financial products just like any other blockchain, however, the platform is more reliable and faster than popular blockchains like Ethereum.
Recently, Fantom also announced its plan to launch an NFT marketplace. NFT or non-fungible tokens are the new way of establishing ownership over digital assets like images or videos.
Additionally, the project has $40 million in funding, so, it has attracted a lot of attention.
What is the FTM Token?
FTM is the native token of the Fantom ecosystem. Its uses include developing the platform, paying fees, making payments, and governing the project.
Fantom created 3.175 billion FTM tokens, and 2.1 billion are currently in circulation. The company plans to release those over two years to reach a market cap of around $3,213,674,450.
FTM is available on major cryptocurrency exchanges and you can also store your crypto coins in the native Fantom wallet.
FTM Price Analysis
FTM has a rank of 52 in the cryptocurrency realm and is currently priced at $1.25. The token has increased by 1.3% in price in the past 24 hours and reached its highest price of $1.36.
The price of FTM has been more or less steady over the past seven days; stats show that the token experienced a -0.0% change in the past week, however, the price of FTM fell over the past 14 days by 16.4%.
Yet, FTM looks to be doing great in the long run; it has grown in value by 151.3% in the last 30 days. It also reached an all-time high of $1.92 on September 9, 2021. Additionally, the growth over the past year has also been fantastic: FTM increased in value by 3,073.6% over the past 365 days.
As a result, it could be a good time to buy and hold your FTMs. According to CoinGecko, you can expect a 4,073% return on your investment in the tokens if you invest today.
Therefore, FTM shows considerable promise to generate rewards at this moment.
Fantom is an innovative project turning heads all over the world and it may soon grow to become a dominant crypto ecosystem powering several products. The outlook on FTM is also positive and the historical data is also encouraging. However, the cryptocurrency market is volatile and involves risks that you should know about – always study the trends to make an informed decision.