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Fantom (FTM) Price Predictions: Where Will FTM Go After HyperChain Investment?

Fantom (CCC:FTM-USD) is surging in trading following the announcement of a $15 million investment by Singapore-based HyperChain Capital. Currently trading for 57 cents, FTM-USD is up nearly 14% in the past 24 hours.

Source: Shutterstock

The $15 million investment by HyperChain follows a 2018 investment of $2.5 million. Additionally, the company’s Hyperblocks subsidiary runs validators that help secure the Fantom blockchain. Per a Fantom Foundation press release, the investment “reflects HyperChain’s confidence in both Fantom core technologies and the rapid adoption of Fantom by end-users and developers.”

Fantom is an alternative to the Ethereum (CCC:ETH-USD) blockchain that uses an asynchronous Byzantine Fault Tolerant (aBFT) consensus model to validate transactions. This allows for the network to be decentralized, scalable and secure, not just two of the three. In practice, this means minimal fees and near-instantaneous transactions.

Last week, Fantom rolled out a huge network upgrade, called Go-Opera. This upgrade made transactions faster (they now take ~1 second) and improved other network efficiencies. This makes Fantom one of the fastest blockchains in the world.

Yesterday, Fantom announced a partnership with Formula 1 driver Pierre Gasly, which follows an endorsement by Mark Cuban. This follows partnerships with Clover Finance (CCC:CLV-USD) in decentralized finance (DeFi) and SuperFarm in non-fungible tokens (NFTs).

Fantom (FTM) Price Predictions

With Fantom presently trading around 57 cents, what will FTM-USD do next? Here are some Fantom (FTM) price predictions:

On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2021/04/fantom-ftm-price-predictions-where-will-ftm-go-after-hyperchain-investment/.

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