After elevating hundreds of thousands via numerous ICO rounds in 2018, Fantom’s essential web went reside by the top of 2019. In contrast to most cryptocurrencies, FTM doesn’t use a blockchain however depends on a DAG, and it’s secured by a novel Proof of Stake consensus mechanism known as Lachesis.
This protocol permits FTM to course of and full 20,000 transactions per second. Fantom has round 60 validators, of which the Fantom Basis runs a couple of.
For safety, Fantom validators should stake a minimal of 500,000 FTM. Validators can earn over 15.6% per 12 months relying upon their length of staking, nevertheless it requires a seven-day unlock interval. One other constructive facet of the Fantom ecosystem is its power effectivity, and the complete Fantom community consumes much less power than a mean American dwelling.
Fantom’s native token, FTM, has been overwhelmed onerous by the worry in crypto markets. Fantom presently has a market capitalization of $671,707,346, with 80% of FTM tokens in energetic circulation, making this platform rank 63rd.
Being thought of an ETH competitor stays the one silver lining for the FTM ecosystem, and it even faces rejection by customers for its extremely centralized ecosystem. The damaging motion in a really quick time regardless of buying and selling at an all-time excessive proves its correlation with Bitcoin value motion.
Fantom value motion is consolidative in nature with an uptrend chance in the long term based mostly on its elementary energy. The 50 EMA of $0.36 could possibly be the subsequent goal provided that the constructive component continues. Learn our FTM value prediction to know if there may be any chance of an uptrend.
The final two months of value motion, particularly Could to July, have been pretty consolidation in nature with no indicators of a bullish consequence and a lower in damaging sentiments. Primarily this sort of value motion signifies its correlation with Bitcoin since most altcoins are following the same value pattern.
Fantom token at its peak touched a market worth of $3.3 in January 2022 when the vast majority of tokens have been on a damaging observe. Nonetheless, owing to this correlation, it felt onerous dropping greater than half of its worth in simply 5 months.
Since April’s first week, the FTM token has traded within the damaging zone below the 20-day EMA and moved above this EMA solely two weeks in the past. As we speak, FTM is once more making an attempt to beat the 20 EMA curve, and with a constructive breakout, it will possibly transfer forward towards the subsequent goal of fifty EMA.
Within the final two weeks, the RSI indicator has been pointing in direction of a stagnant sentiment whereas MACD continues to maneuver in direction of the constructive axis to showcase a elementary energy in its value motion.