Ftm Crypto: Smart Investment Or Risky Bet?

Crypto investors are always on the lookout for the next big thing, and Fantom (FTM) has been making waves in the market. FTM is a DAG-based platform that aims to tackle the issues of slow transaction speeds and high confirmation times associated with blockchain technology. With its improved version of DAG protocols, FTM offers faster transactions at near-zero costs. But is it a good investment? FTM's price skyrocketed after joining the BinanceDex family in May 2024, and it has a strong community backing. However, some consider it a shitcoin, and it has been described as having no strong fundamentals. With the crypto market's volatility, investing in FTM could be a gamble, but its recent performance suggests it might be one worth taking.

FTM's price history and future predictions

Fantom (FTM) is a DAG-based platform that aims to solve the issue of scalability and slow confirmation times that characterise existing blockchain technology. Fantom uses an Asynchronous Byzantine Fault Tolerance (aBFT) consensus model to validate transactions, which facilitates accessibility and security, and results in minimal fees and near-instant transactions.

Fantom is no exception to the volatility of the crypto market. After an initial surge in price in the first half of 2019, FTM began a downward correction, and this bearish trend continued until March 2020, when it marked an all-time low of $0.001953. However, it then started a bull run which took its value above $0.05 in September 2020. After recording significant growth, FTM faced a massive downfall, and at the end of 2020, the Fantom price retested $0.4595.

Since the beginning of 2021, Fantom has grown multifold, surpassing other crypto rivals in the market. This steep price rise took the FTM price to a new high of $0.8. After that, the coin price plunged below $0.25 in July. In October 2021, Fantom registered a new all-time high of $3.48.

FTM again tried to create a new all-time high in January 2022 but faced resistance at $3 and could not surpass it. After that, the coin continued to trade in a downward direction with negative momentum. It currently trades at around $0.4595.

According to our Fantom price prediction, the price of Fantom is predicted to rise by 5.06% and reach $0.594116 by October 17, 2024. The Fantom price prediction for 2025 is currently between $0.452778 on the lower end and $1.961711 on the high end. Compared to today’s price, Fantom could gain 244.93% by 2025 if FTM reaches the upper price target.

The Fantom price prediction for 2030 is more varied, with sources predicting a price of between $0.275929 and $4.95. Compared to today’s price, Fantom could gain 769.61% by 2030 if it reaches the upper price target.

FTM's performance compared to other cryptocurrencies

FTM, or Fantom, has been described as a good investment by some, but others have called it a "shitcoin". One source from 2022 describes a user's experience of losing $1000 after investing in FTM. However, another source from 2024 describes FTM as a "solid project" and a good long-term investment.

Fantom is a DAG-based platform that aims to solve the issue of scalability and slow confirmation times that characterize existing blockchain technology. It employs an improved version of existing DAG-based protocols, making transactions much faster and at near-zero cost. Fantom also uses the Lachesis protocol, which allows the platform to scale up to 300K TPS (transactions per second).

In terms of performance, Fantom has had a positive week, marking a 55% surge in under 20 days, and it has been among the best-performing altcoins in midweek action. On 22 August 2024, Fantom experienced a 17% increase in value, positioning it as the leading performer in the cryptocurrency market. Its price is up by 5.58% compared to the previous month, and up by 139.95% compared to a year ago. As of 23 August 2024, Fantom's price is $0.50315, with a 24-hour trading volume of $287,721,158. Its market cap is $1,408,557,831, and it has a circulating supply of 2,803,634,836 coins.

Fantom's all-time high price was $3.46 on 28 October 2021. Its price has been as low as $0.0000299 and as high as $0.83733.

Comparing Fantom to other cryptocurrencies, it has outperformed Bitcoin, Ethereum, and Solana on 22 August 2024. It was also one of the top gainers on that day, alongside POPCAT and IO. On 21 August 2024, Fantom was one of the top crypto performers, alongside Aave and Polygon.

Overall, Fantom has shown strong performance, especially in the short term, and has been described as a good investment by some. However, it is important to remember that cryptocurrency investments are highly volatile and carry inherent risks.

How to buy FTM

FTM, or Fantom, is a Directed Acyclic Graph (DAG)-based smart contract platform that aims to solve the scalability issues of distributed ledger technologies. Here is a step-by-step guide on how to buy FTM:

Step 1: Register on Coinbase

• Fill out the registration form on www.coinbase.com.
• Confirm your email address.

Step 2: Add a Payment Method

• On the Coinbase dashboard, click 'Buy/Sell'.
• Add your preferred payment method (e.g., bank account or credit/debit card).

Step 3: Buy Bitcoin

• Return to the Buy/Sell screen and select Bitcoin.
• Enter the amount you wish to buy, and select 'Buy Bitcoin Instantly'.

Step 4: Open a Binance Account

Navigate to www.binance.com and create a new account. You will need a Binance account to exchange Bitcoin for FTM.

Step 5: Deposit Bitcoin to Binance

On Binance, select 'Funds', then 'Deposits', and choose BTC in the dropdown menu. This will generate a token address for you to send your Bitcoin to from Coinbase.

Step 6: Send Bitcoin from Coinbase

• On Coinbase, select 'Accounts', then choose your Bitcoin account and click 'Send'.
• Enter the Bitcoin deposit address from your Binance account.

Step 7: Wait for Funds to be Received in Your Binance Account

It may take approximately half an hour for Coinbase to send the Bitcoin and for Binance to confirm the transaction. You can check the progress of the deposit on Binance under 'Transaction History'.

Step 8: Exchange BTC for FTM

• On Binance, select 'Exchange' and find the BTC/FTM market to purchase FTM.
• Here is the direct link to the FTM/BTC market: https://www.binance.com/en/trade/FTM_BTC.

Alternatively, you can buy FTM directly through the Coinbase app by executing a Trade on DEX. Here's how:

Step 1: Create a Coinbase Account

Sign up and download the Coinbase app. You will need a valid ID and may be asked for proof of address.

Step 2: Navigate to the "Trade" Tab

Please note that Trade on DEX is only available on the Coinbase app and is subject to your location.

Step 3: Select Fantom from the List of Assets

Search for Fantom by typing "Fantom" into the search bar. Click the 'Trade' button when it appears in the results.

Step 4: Enter the Amount of ETH You Wish to Trade

Use the number pad to input the amount of ETH you want to trade for Fantom.

Step 5: Preview Your Trade for Fantom

Select "Preview DEX Trade" to see the details of your purchase, including payment method, exchange rate, fees, and the total cost of the transaction.

Step 6: Complete Your Trade for Fantom

• If you don't have any ETH in your primary Coinbase account, you will be prompted to "buy ETH with cash" or "receive ETH from another wallet".
• If you already have ETH, transfer it from your primary wallet to your newly created web3 wallet.
• Once the transfer is complete, select "Return to DEX" to finish the trade.

FTM's technical analysis

FTM, or Fantom, is a DAG-based platform that uses an improved version of existing DAG-based protocols to make transactions faster and cheaper. The network also employs the Lachesis protocol, which allows the platform to scale up to 300,000 TPS. The Lachesis protocol is an aBFT consensus engine that uses a directed acyclic graph (DAG) algorithm.

As of September 2024, FTM has a market cap of $45 million and is ranked 47th among cryptocurrencies. The current price of FTM is 0.6730 USDT, having risen by 16.96% over the last week, 28.85% in the last month, and 254.77% in the last year.

• FTM has broken the ceiling of the falling trend in the medium-long term, which indicates a slower initial falling rate.
• The currency has support at points 0.33 and resistance at points 0.51.
• If the current week candle closes above 0.5, it is extremely bullish.
• If the current week candle closes above 0.47, it is bullish.
• FTM has created an ascending head and shoulders and is located in the megaphone, which means that if it breaks, the price is expected to reach the target (AB=CD).
• FTM is in a bearish trend, with RSI divergence.

Overall, FTM appears to be a promising investment, with a strong community and a dedicated team. However, it is important to remember that cryptocurrency investments are highly volatile and carry a high level of risk.

FTM's price in relation to other currencies

The Fantom Network (FTM) is a decentralised, open-source smart contract platform for DApps and digital assets. FTM is the network's native utility in-house proof-of-stake token, which is used for payments, network fees, staking, and governance.

FTM's price has been influenced by various factors, including its listing on major exchanges such as Binance, Gate.io, and OKEx Korea, as well as partnerships with other organisations. FTM's price has also been impacted by the broader crypto market trends, such as the crypto bull run in 2017 and the subsequent downturn in 2018.

When comparing FTM's price to other currencies, it is important to consider the volatility of the crypto market and the potential risks associated with investing in cryptocurrencies. FTM's price has experienced significant fluctuations, and it is challenging to predict its future performance with certainty.

As of September 2024, the live Fantom price is $0.639090 USD, with a 24-hour trading volume of $313,634,002 USD. FTM is ranked #47 in the CoinMarketCap rankings, with a live market cap of $1,791,774,364 USD. The total supply of FTM is 3.175 billion tokens, with 2,803,634,836 FTM currently in circulation.

In summary, FTM's price in relation to other currencies has been volatile, and it is essential to carefully consider the risks and conduct thorough research before investing in any cryptocurrency, including FTM.

Frequently asked questions