Fantom (CCC:FTM-USD) is in the crypto spotlight today, as engagement on Stocktwits around the cryptocurrency is steadily rising. The FTM crypto first became tradable in 2018 and has since risen by over 15,000%. At the time of writing, FTM crypto is the 29th largest crypto based on its market capitalization of $6.7 billion. Furthermore, the crypto is roughly $350 million away from passing Stellar, the 28th largest crypto, (CCC:XLM-USD).
Fantom operates as decentralized and open-source layer-1 blockchain that is powered by the Lachesis consensus mechanism. Lachesis uses a proof-of-stake structure that enables transactions to be quick, secure and scalable. Recently, CoinDesk reported a surge in Fantom popularity and price due to the crypto being viewed as an alternative to Ethereum (CCC:ETH-USD). Crypto users are reportedly tired of slow transaction times and high transaction fees.
Furthermore, smart contracts are also accessible on the Fantom blockchain. A smart contract is a program stored on a blockchain that runs when predetermined requirements are completed. Since the contracts are self-executing, there is no need for a middleman to enforce the contract, savings costs for both parties.
The price of FTM crypto has risen 21% in the past month. Will the hefty price acceleration continue? Let’s take a look into how crypto analysts feel about Fantom price predictions for 2022.
Fantom Price Predictions for 2022
- Wallet Investor has a 2022 price prediction of $4.68. Impressively, this implies upside of 87% from current prices. According to Wallet Investor’s proprietary indicators, sentiment surrounding Fantom in the past 30 days has been extremely bullish. Additionally, Wallet Investor notes that three points of resistance currently lie at $2.56, $2.64, and $2.70.
- Gov Capital has a 2022 price prediction of $4.12. This represents upside of 64%. The prediction is based on “deep learning processes” which are factored into a custom algorithm. The custom algorithm includes inputs such as volume, market cycles and similar coins.
- PricePrediction has a 2022 price prediction of $3.79. This figure represents upside of 51%. In the best-case scenario, PricePrediction believes Fantom could soar as high as $4.28 during 2022. Even in the worst-case scenario, PricePrediction believes Fantom won’t fall below $3.69 by the end of 2022. Furthermore, the price prediction is based off of technical analysis. The analysis accounts for factors such as market cap, volume and historical prices.
- CryptoNewsZ has a 2022 price prediction of $3. This implies upside of 20%. CryptoNewsZ notes that continued partnerships and funding from the Fantom community will help the crypto achieve the price prediction. The website notes that the price prediction is “quite optimistic but surely feasible.”
On the date of publication, Eddie Pan 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.
