Fantom’s FTM Rise: 18% Surge Leaves Experts Astonished

Newcomers can benefit from a welcoming interface and educational resources, making their first steps into the world of cryptocurrency smooth and informative. InvestorsObserver gives Fantom a strong long-term technical score of 89 from its research. The analysis helps to determine whether it’s a strong buy-and-hold investment opportunity currently for traders. FTM at this time has a superior long-term technical analysis score than 89% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets.

This is the bottom layer and it has the responsibility for maintaining consensus across the nodes in the Lachesis Protocol. It uses a DAG to confirm transactions, and nodes are able to process them asynchronously thanks to the use of DAG technology. It has also been actively forging partnerships with many leading blockchain projects, including Chainlink, Ren, Band Protocol, The Graph, and Waves. This can be done through participating in staking or
becoming a validator node.

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At this time, it launched an initial coin offering (ICO) that amounted to $40 million. This means the Binance Chain handles transactions on this network. The integration of Fantom into the Ethereum and Binance Chain gives room for an overall improved interoperable ecosystem. Fantom is posing to be a reliable alternative to Bitcoin, whose transactions process can take up to an hour, and Ethereum, which can take up to 10 minutes. Fantom network only takes about 1–2 seconds to process while aiming for 300,000 transactions per second. This allows everyone who holds PLX tokens to share in the exchange’s daily profits.

  • In response to the glaring limitations of the Ethereum network, a lot of projects have been erupting to fill these problems.
  • While a trading platform is the easiest place to store crypto, it may not be the safest.
  • The team released the testnet in 2018 and raised $40 million through token sales to fund the project development.

As explained earlier, basically, Fantom has two technologies backing it, which are DAG and Lachesis. DAG allows swift validation of transactions while Lachesis provides security to the multiple chains deployed within the ecosystem. Since then, the FTM price has experienced massive growth simultaneous to the steady development of the whole project. It reached an all-time high of $3.48 in Dec 2021, and it’s currently trading at $1.23. In the last quarter of 2018, the platform launched its innate currency, FTM, which started trading at around $0.02.

Market capitalization

Moreover, Fantom Foundation is well funded following the $40 million early funding round that has enabled the hiring of talented talents, especially software developers. It is also easy to develop smart contracts and protocols on Fantom because it uses Solidity, the programming language of Ethereum. Beefy Finance is a top yield optimizer in DeFi, supporting 10 blockchains with over $379M in TVL. It’s a multi-chain platform with Vaults allowing users to compound yield farm rewards, and a DAO structure for governance.

How do I store Fantom?

In response to the glaring limitations of the Ethereum network, a lot of projects have been erupting to fill these problems. Among these projects is Fantom, which aims to solve the ‘trilemma’ issue between scalability, security, and decentralization within a blockchain network. Whether you’re a seasoned trader or just starting out, the platform has something to offer. Experienced users will find a wide range of assets, and advanced tools to explore the depths of the market.

Fees and Market Metrics

Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. Coinpedia should not be held responsible for image copyright issues. Readers should do their research before taking any actions related to the company. Market experts initially expected a climb to $0.36 by the end of the year. However, Fantom (FTM) has surpassed those expectations, reaching $0.37 at the time of writing.

Byzantine Fault Tolerance enables the network to come to a fair consensus, even if up to 1/3 of nodes decide to hinder that agreement, perhaps by delaying transactions. This example depicts a decentralized network or blockchain, with each team leader representing a node in the network. According to its whitepaper, Lachesis consensus protocol (or Lachesis protocol) and a directed acyclic graph (DAG) put Fantom to work. These two help the network attain a Byzantine fault tolerance asynchronous (aBFT). The growth in the TVL of Avalanche’s (AVAX) DeFi ecosystem is particularly noteworthy. This is especially impressive considering that over 15 million Avalanche (AVAX) tokens have been withdrawn from the network in the past month.

Without a single data source, it was believed that the blockchain ledger would provide security and reliability. The provided liquidity is automatically staked in the vaults and generates additional rewards. Upon withdrawing the LP tokens, the liquidity is also withdrawn from the vaults.