As Fantom outshines Ethereum in transaction volume, what is Fantom price prediction

Will Solana repeat its 2021 price rally this year, or will it be another blockchain that could really turn out to be the so-called “Ethereum killer”?

Here’s a crypto that bears at least two similarities to 2021’s Solana. Solana started last year with a very modest price tag, but soon surpassed the $100 mark and ended the year with a profit of over 10,000 percent. Solana’s blockchain has been increasingly adopted by DApps developers.

Fantom is trading at a very modest price right now, and as far as its blockchain is concerned, Fantom outshined Ethereum in terms of the number of transactions over 24 hours for the first time on January 24, 2022.

Fantom’s blockchain

Without going into technical details, Fantom can be understood as a blockchain for the development of decentralized apps. Smart contracts, which are at the heart of blockchain’s decentralized ledger technology, can be created and deployed using Fantom services.

Fantom uses Proof-of-Stake with advanced features as the preferred consensus algorithm. The network claims to have higher transaction speeds with cost advantages over Ethereum’s blockchain.

also read: Is crypto dead and what’s in store for blockchain in 2022?

Fantom’s Recent Advances

As mentioned, Fantom recently trumped Ethereum in terms of the number of transactions. In the said 24-hour period, Fantom registered approximately 1.2 million transactions, while Ethereum recorded 1.1 million, according to the Etherscan tracker.

Fantom was a late entrant to the blockchain, having only started in December 2019. Since then, Fantom has recorded nearly 170 million transactions. Ethereum leads with almost 1.4 billion transactions so far.

It has also been reported that Fantom is now the third largest DeFi in terms of locked value. DeFi refers to the trading of cryptos in addition to the borrowing and borrowing functions. DeFi is one of the strongest sub-sectors in cryptos.

Recently, cryptocurrency exchange Nexo added support for FTM crypto, which serves as Fantom’s native token.

also read: The “Crypto is for Virgin” trend puts “virgin” bitcoins in the spotlight

Fantom Price Prediction

First, predicting the price of a cryptocurrency is complex. Cryptos are volatile and most major assets including bitcoin have lost value in 2022.

Despite this, Fantom has recently emerged as a leading DeFi player. FTM tokens are used within the platform and it is very likely that demand for FTM can lead to an increase in value. As of now, FTM has a market cap of nearly $4.9 billion and is in the top 30 crypto assets. The price is almost $1.9.

Fantom has yet to enter double-digit pricing. This can happen by the end of the first quarter. But for that, Fantom needs to maintain its lead over other DeFi service providers. The low price per token can also be an advantage for Fantom.

Data provided by CoinMarketCap.com

position

Fantom is in a crowded space, and many DeFi platforms claim to be a high-speed, low-cost conducive ecosystem. Fantom could rise if it can maintain its leadership in blockchain network services.

source https://www.bisayanews.com/2022/01/31/as-fantom-outshines-ethereum-in-transaction-volume-what-is-fantom-price-prediction/