Fantom Coin (FTM) is currently leading the crypto markets, registering a daily increase of more than 12%: apart from Toncoin (TON), no other cryptocurrency can currently match this performance. FTM predictions are getting increasingly optimistic, with $1 now looking within reach – and the coin could even explode by thousands of percent in the long run. Should you buy Fantom now?
What is the Fantom Coin used for?
Fantom Coin is a competitor of Ethereum: the cryptocurrency offers smart contracts and dApps, and is therefore used for decentralized financial services (DeFi). Fantom Coin wants to do some things better than Ethereum – among other things, the transaction speed has been reduced to less than two seconds, and the fees are also significantly lower.
Apparently, this strikes a chord, as Fantom Coin has had an extremely successful 2022: despite extreme events and bad moods in the crypto markets, the Fantom ecosystem has performed well.
For example, what’s bullish for Fantom is that the amount of FTM staked by validators to secure the Fantom network increased by 2% in Q3 2022. Even more: with 51% of all FTM in circulation ( ~1.4 billion), the number of coins in play has just reached a record level.
Another positive development: the Fantom Foundation only adopted a proposal in October, according to which the remuneration of validators will be reduced. Background: Fee revenue for validators and stakers grew 18x year-over-year.
Reducing rewards has put the network in a stronger position – with a longer-term issue rate by matching rewards to the market rate. As a result, the APR for staking is now 6%, while the duration of issuance of staking rewards is 4.7 years.
Fantom Coin pumps: +12% in 24 hours
With the exception of Toncoin, no other cryptocurrency is able to perform like this in the current bear market environment: phantom bulls have driven the coin up +12% – from lows of $0.244 from yesterday at $0.2534.
Apart from the price, the Fantom network is also in turmoil: trading volume, for example, is +132% up from the previous day, making upward or downward moves likely in the coming hours. .
Fantom Coins Forecast 2022 to 2027
According to predictions, Fantom Coin (FTM) is well positioned in the future. Comment from Nansen blockchain researchers: In Q3 2022, market sentiment was bearish – this affected the number of active users and transactions on the Fantom network.
“Nevertheless, the Fantom ecosystem has remained a tremendous space for innovation, collaboration, and community building. Fantom has also entered into capital partnerships with several well-known venture capital firms, providing funding for early-stage projects.
In short: Fantom Coin has a solid foundation – and this ensures that the Ethereum competitor is well positioned for the next few years. So how far could Fantom Coin go?
- Priceprediction.net promises only small price jumps for Fantom Coin. In 2023 FTM will rise to $0.44, by 2027 it could be $2.02.
- Coincodex.com, on the other hand, is generally neutral on Fantom predictions. So 15 technical analysis indicators give bullish signals – but there are also 15 bearish signals.
- The most bullish Fantom price prediction comes from Gov.capital: according to predictions, Fantom Coin will already reach $1.47 (+512%) by December 2023. And the coin will then completely explode by 2027: FTM pumps at $9.43, marking gains of a whopping +3,736% from the current price!
Alternative FTM? IMPT Climate Protection Coin Gets First Stock Exchange Listing
Investors interested in Fantom Coin may also consider ESG portfolio diversification. The new climate protection coin IMPT Token (IMPT) is currently causing a stir: the project was able to raise more than $20.5 million in capital during its record pre-sale – IMPT is now on the open market. First exchange for the project: LBank. IMPT tokens can now be purchased there, as the team reports on Twitter:
Changelly is to follow next, and the part can already be found on Uniswap. IMPT CEO Denis Creighton is also promising listings on seven other exchanges in the short term. IMPT Token background: IMPT.io connects users to hundreds of environmental projects around the world. The goal: to reduce carbon emissions and thus help the planet. Additionally, thousands of top retail brands allocate a percentage of sales margin to environmental projects on IMPT.io.