Fantom (FTM) is one of the largest cryptocurrencies in the world. It is now among the top 60 largest digital assets when measuring its market capitalization and its price behaved quite positively in 2021, as in most of the cryptocurrency market. But which are the main solutions offered by this project?
In the next sections, we will focus on Fantom price prediction for 2022 and the next few years. The goal is to focus on what analysts say about this project and how they believe that the coin could evolve in the future.
What is Fantom (FTM)?
Fantom is a cryptocurrency project that believes in performance. The crypto market has been full of projects that offered good solutions but were affected by performance issues. Therefore, Fantom created a first, high-throughput and open-source smart contract platform for digital assets and dApps.
At the moment, Fantom has $820 million in value locked on its DeFi solution. During the peak, of early 2022, there was more than $11 billion in total value locked on top of the Fantom network. Some of the projects working on Fantom include Biswap, SpookySwap, Curve, Beethoven X, and many others.
FTM tipping point
The project continues to expand on a regular basis. The Fantom Foundation releases information about new partnerships and how they continue to add new functionalities to their network. This helps the community stay updated about the latest news related to Fantom.
A project that continues to expand, is a project that shows its future potential. For investors, this is one of the most important things that could have an impact on the price and the value of this virtual currency.
When it comes to price, the virtual currency has experienced strong growth in 2021 after several years in which the digital asset remained stable but close to $0.01 per coin. As happened with other digital currencies, the price of FTM started to move higher in 2021. This was one of the digital assets that registered new highs throughout the first half of the year.
But rather than moving lower and entering a new bear trend, the coin continued to move higher and more than doubled the all-time high registered during the first part of 2021. Indeed, the coin surged to $3.30 in early 2022. This is something that didn’t happen to other digital assets, which were already in a bear trend.
Despite the fact that the bear market has had an impact on FTM, it did not push the coin to new lows. Indeed, it remained stable and it had similar levels to the price that the coin reached throughout 2021.
The question is whether the coin will continue to move higher in the future or not. There are many things to take into consideration about this digital asseet and the future of this coin. Therefore, this is something that crypto experts share with us.
Fantom (FTM) Price Prediction – How much can FTM price increase in 2022?
Over the last few weeks, several analysts have shared their points of view about the market and what we could expect from this virtual currency. Let’s have a look at whether FTM could grow against USDT or not in the next months.
- This cryptocurrency analyst showed that the price of FTM could fall to $0.2098 after reaching a local top at $0.255. However, this did not happen. The coin broke the resistance level at $0.255 and moved higher in a very strong move that allowed the coin to hit $0.3299. Now, the question is whether there will be a small retracement or not and how much it could retrace.
- For this analyst, FTM found strong support at $0.2218 per coin. The coin bounced from this level and continued to move higher in what the analyst considers to be the second wave of a corrective movement that started in late 2021. Following Elliott Waves’ theory, the coin could move to the bear landing zone at $0.034 in the next year.
- According to this expert, FTM is headed towards $0.40. This is very bullish considering that the analyst has properly predicted the move from $0.2565 to $0.3379. Now, we could see the coin continuing with this move higher and reaching the above-mentioned price level of $0.40. Other important support levels include $0.2781 and $0.3049.
- As per this analyst, Fantom is about to decimate all shorts. As indicated by this analyst in the chart, there is a possibility for this coin to move closer to $2 in the coming months. The trader says that if Bitcoin reaches $30,000, then we could see FTM hit $0.50 or even higher.
- We have this analyst showing that FTM has been one of the top gainers over the last few weeks compared to other digital currencies. Due to this reason, he sees the coin moving higher in the future and reaching even higher price levels. Therefore, we should closely follow this digital currency in order to see where it goes and how it behaves if the market keeps moving lower.
What can you do with FTM token? What is the token utility of FTM?
Every single token in the cryptocurrency market has a function. This function will have a strong impact on the price of the token. For example, for FTM, the most important utility of this token is securing the network using a Proof of Stake (PoS) system.
In this way, stakers can easily participate by selecting a validator and locking the tokens for some time. Then, they will receive rewards according to the number of tokens they staked and the time they kept them locked.
FTM tokens can also be used to pay for network fees and for smart contract deployment, among other things. Finally, Fantom has an on-chain governance structure that involves using the token to make the most important decisions related to the network using an on-chain governance structure. It is also worth pointing out that it is possible to use FTM to speculate on its price.
What would be a decent FTM Price prediction for 2022?
For 2022, analysts seem to be very bullish about this virtual currency. We have seen some predictions that put this coin closer to $0.50 by the end of the year or even in just a few months. Some other analysts consider that the coin could be above $0.50 if Bitcoin surges to $30,000.
Therefore, the possibilities are endless for this coin, at least in the short term. We should also take into consideration that the market could continue to move lower, something that could affect the price of FTM in the future as well.
Therefore, most of the price predictions show FTM price above $0.50, therefore, anything close to that price could be accurate for 2022.
Can FTM Price reach $5?
Can FTM reach $5? This is something that several analysts are asking as it could be something very positive for this virtual currency. The coin has already been affected by volatility, as most digital assets in the market. Therefore, FTM could hit $5 in the future if the market continues to expand and if FTM follows the trend during a bull market.
Based on the estimations, here are the following price predictions for FTM.
- FTM price prediction for 2022: $0.15 – $0.50
- FTM price prediction for 2023: $0.25 – $3
- FTM price prediction for 2024: $0.50 – $5
- FTM price prediction for 2024: $0.75 – $5+
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