Among the top cryptocurrencies generating a lot of attention today is Fantom (CCC:FTM-USD). This layer-1 blockchain network has grown rather impressively lately, challenging the DeFi superiority of leaders such as Ethereum (CCC:ETH-USD). News that came out over the weekend has many investors interested in Fantom price predictions and where the FTM crypto could be headed from here.
This weekend’s news highlighted Fantom’s lightning-fast ascent to the number three spot in terms of all decentralized finance (DeFi) platforms, in terms of total value locked (TVL). Total value locked measures the dollar value of cryptocurrencies locked within specific projects tied to a blockchain network such as Fantom. As the number of projects — and users on those projects — grows, so too does the TVL of protocols like Fantom.
Essentially, TVL is a measurement used by investors to determine how much interest there is within a given DeFi network. For Fantom, passing the Binance (CCC:BNB-USD) Smart Chain on a 52% move higher in TVL over the course of a week is big news. Accordingly, it’s perhaps unsurprising to see this token move from a double-digit decline into the green today.
For those interested in where this token could be headed, let’s dive into some expert price predictions.
Fantom Price Predictions: Where Is the FTM Crypto Going?
For context, FTM currently trades at $2.16 per token, at the time of writing.
- Wallet Investor provides one-year and five-year price targets of $4.79 and $15.45, respectively, for FTM.
- Similarly, Gov Capital projects FTM could be worth $3.44 in one year and $13.91 in five years.
- Finally, DigitalCoinPrice suggests FTM could be worth $3.38 in 2023 and $9.01 in 2029.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.