The Fantom price has started the year well. FTM is trading at $2.85, which is about 30% above where it started the year at. This price is a few points below its all-time high of $3.73. Its market capitalization has risen to more than $7.2 billion, making it the 27th biggest coin in the world.
Fantom is a fast-growing blockchain platform that has become a favorite among developers. It has about 109 decentralized finance (DeFi) applications that have a total value locked (TVL) of more than $5.85 billion.
This makes it the 6th biggest platform in the world after Ethereum, Terra, Binance Smart Chain, Avalanche, and Solana. Some of the top Fantom-built DAPPs are Multichain, Abracadabra, Curve, and Yearn Finance among others. Developers love it for its high speed since it can process more than 10,000 transactions per second (tps).
Fantom price prediction
The daily chart shows that the FTM price has been in a strong bullish trend in the past few months. The coin managed to move above the ascending trendline that is shown in red. It has managed to move above the 25-day and 50-day moving averages while the MACD has moved above the neutral line. The coin is also approaching the all-time high at $3.7310.
Therefore, the Fantom price will likely keep rising as bulls target the all-time high at $3.7. A move above that level will push Fantom to $4 in January 2022. This view will be invalidated if the price drops below $2.50.