Why does Fantom (FTM) still have a lot of runways ahead of it? What could be the best-case scenario price trajectory of FTM? What are the safest entry and exit points?
Altcoin Buzz, a Crypto News and Weekly Technical Analysis on all the Top Cryptocurrencies, has highlighted 10 reasons why Fantom (FTM) is seriously heating up.
1st reason
Fantom is a scalable and open-source blockchain that wants to facilitate global transactions with high efficiency and sustainability supported by the ultimate generation of distributed ledger technologies. In short, it aims to become a powerhouse protocol.
2nd reason
What makes Fantom different from other blockchains is its new consensus based on DAG technology. DAGs are structures that have been known in the mathematical and computer world for many years they are even much older than blockchain technology.
With DAG technology, Fantom can process several connected nodes at the same time, which allows for much greater speed scalability and transaction security.
3rd reason
Fantom is packed with features. It has distinguished features such as:
- Instant transactions: Users can make transactions in just one second and costs are really a fraction of a cent.
- High standard security: Fantom is a proof-of-stake network that operates with trustless nodes.
- Scalability: Fantom has a capacity of 300,000 transactions per second.
4th reason
Fantom has EVM compatibility. So Fantom’s smart contracts are fully compatible with the Ethereum Virtual Machine and this means that developers can build smart contracts with the same coding language used in Ethereum. It helps Fantom suitable with multiple use cases.
Fantom can also reward consumers businesses and delivery agents all depending on the strategy that is established in the smart contract.
5th reason
Users of the top 20 dApps in terms of total value locked in the Fantom ecosystem will receive the airdrop.
6th reason
Fantom announced a one billion dollar incentive program, and since then, the development activity of the TVL and Fantom uses counts have soared significantly. This is working together to push the price of FTM even higher.
7th reason
Staking rewards is 14.15% APY, just by staking to contribute to Fantom’s decentralization. Users can also lock FTM tokens for a minimum of two weeks without any specialized hardware, but just a phone or a PC.
8th reason
You can earn rewards not only by staking but by running a node. Another alternative to earn rewards with FTM tokens is by running a node validator. This allows participants to get involved in Fantom’s consensus protocol to increase the security of the blockchain.
9th reason
Fantom is entering new markets. U.S residents can deposit, withdraw, and buy FTM on Binance with Lighthouse Storage. Users can store files in a decentralized and ultra-secure way and they can secure loans using FTM tokens as collateral.
10th reason
FTM has a big future in terms of an upward price trajectory. FTM sits at $2.62. That’s around a support zone of $2.65.
If it can hold at $2.65, we could start seeing a move towards $2.87, $3.19, and ultimately $3.31. And if that resistance at $3.31 breaks, we could see a move towards $3.63, $4.3, and $5.18.
If it fails to hold that support zone and fail to hold that area could lead to a drop towards $2.33, down to $2.15 and $1.98. Those are entry and exit points at a macro level based on Fibonacci analysis.
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