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FANTOM COIN FORECAST 2022 – FTM COURSE IN ANALYSIS

 


Investors were drawn to the Fantom blockchain as a potentially faster and cheaper alternative to Ethereum . But what is behind the project?


Fantom is a secure and scalable smart contract platform aimed at developing decentralized finance (DeFi) applications. It was designed to overcome the transaction speed limitations that plague legacy blockchain platforms with smart contracts.


Launched in 2018, the Fantom Foundation directs the development of the open source platform. It was founded by Ahn Byung Ik, a South Korean computer scientist.


The Fantom mainnet, dubbed Opera, was launched in December 2019. The foundation is currently led by CEO and Chief Information Officer (CIO) Michael Kong, along with a team of engineers, scientists and designers with experience in full-stack blockchain development.


Fantom uses Lachesis, a new consensus mechanism that enables smart contracts. It's an Asynchronous Byzantine Fault Tolerance (aBFT) consensus protocol that the company says is faster and cheaper than legacy technologies while still meeting high security standards. It is the consensus layer of the blockchain and can be connected to any distributed ledger.


The Fantom website states:


An aBFT consensus protocol enables maximum decentralization, high scalability and bank-grade security. Unlike Proof-of-Work, Proof-of-Stake, and Sync BFT, the Lachesis nodes do not send blocks to each other. Only the events are synchronized between the nodes. The validators do not vote on a specific state of the network, but regularly exchange observed transactions and events with other participants.


Fantom can scale to many nodes, and since each application is built on its own blockchain, network congestion is avoided.


The Opera mainnet uses the Ethereum Virtual Machine (EVM), which allows developers to port their Ethereum-based decentralized applications to Fantom.


According to Fantom's official website:


Its modular architecture allows full customization of blockchains for digital assets with different properties tailored to each use case.


How many Fantom Coins are there?

There are three forms of Fantom coin: the Opera FTM token, which runs on the Fantom mainnet; an ERC-20 FTM token running on the Ethereum blockchain and a BEP-2 FTM token on the Binance chain, enabling transactions on the Binance decentralized exchange (DEX).


According to Coinmarketcap, around 80 percent of the Fantom Coins are currently in circulation, which corresponds to around 2.55 billion coins. Overall, the maximum supply is 3.175 billion coins.


Fantom (FTM): Partnerships & Collaborations

The Fantom Foundation has announced numerous partnerships and collaborations. Businesses can build Fantom-based private/permitted blockchain networks with its plug-and-play capability. It offers them global expansion, a wide network of users and Dapps (Decentralized Applications), as well as continuous developments and upgrades.


Enterprise Fantom refers to a defined set of technical analysis guidelines and Fantom specifications to accelerate the adoption of blockchain technology in enterprises. Fantom has made an invaluable contribution to the blockchain by rolling out a major upgrade called Go-opera. This accelerated multiple transactions and improved other network efficiencies. With effective collaborations like Formula 1 driver Pierre Gasly and support from Mark Cuban, Fantom has thrived. In the world of DeFi as a non-fungible token, Fantom has partnered with Clover (CLV) Finance and Superfarm, which has further fueled its growth.


Current price development of Fantom (FTM)

In early March 2022, the Foundation announced that one of the main developers and minds behind Fantom Andre Cronje would leave the project and the entire DeFi world. After this report, the price collapsed sharply. What does the chart technique tell us about the further development of the Fantom Coin? 


Fantom (FTM) was also hit hard by the recent crash. In the meantime we have been below USD 0.20. Here, however, we were quickly bought up again and were able to rise to around USD 0.43.


We are currently trading at around USD 0.32, which is well below our high again. This is because we found initial resistance at the 4H-EMA Ribbons and were rejected.


Now we seem to be fighting for the monthly support S1. If we don't manage to conquer it again, another setback to the area around USD 0.20 could follow, where there is an important key level and there is a lot of liquidity.


On the daily chart, we can see that FTM has tested a very important level, which was previously resistance in July 2021. We have also filled many illiquid zones with liquidity.


Thus, the area around USD 0.20 is a crucial area, which we should not break through for long. However, since we cannot see a trend reversal on the daily chart at the moment, there is a high probability that we will fall for it again.


We have formed a large wick on the daily chart which may yet be filled and at the same time trigger a bullish divergence in the RSI. This would be a first sign of a potential bottom and trend reversal.


Is Fantom Staking possible?

Yes. The Fantom Coin can be staked from as little as 1 FTM. You can find instructions for staking on the Fantom (FTM) official website. We have provided you with a picture of the possible rewards here.


According to our Fantom FTM price prediction and our own research, it is likely to fluctuate slightly around $4.08 by the end of 2022 and around $5.47 by the end of 2026.

Many FTM projects are in the pipeline and awaiting release. From concept phase to testing phase and by the end of a year, many new projects would be completed hence an all round positive forecast up to $4.12.


The best exchange to buy the Fantom Coin is Binance. Get a 10% discount on all trading fees at Binance with the link from Krypto Guru*.


Conclusion on the Fantom Coin forecast

Fantom's platform is definitely future-proof. The scaling and speed of the network is convincing and the analysts see great potential for the Fantom Coin.


Investors who believe in Fantom can continue to hold onto the company and feel good about the network's long-term prospects. The discounted price, due to the departure of the lead developer, can even be seen as a buying opportunity.

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