Fantom surges by 16%. Can FTM crypto hit $1 in 2021?

Highlights 

• Fantom (FTM) is a high-speed smart contract platform that provides decentralized finance (DeFi) services.
• FTM token, the in-house digital asset of Fantom blockchain, is used for payments, network security and governance.
• The token appears to be getting investors’ attention, making its price soar.

Cryptocurrency Fantom’s (FTM) token has been witnessing a significant price surge, trading 16 per cent up at US$ 0.4387 per token on Tuesday, August 17 (5:30AM EST).

Its 24-hour volume noted an increase of 153 per cent at the time of writing this, according to the data from CoinMarketCap.

The latest rise in the crypto token’s price has helped to climb to the 85th spot among cryptocurrencies. With a live market capitalization of US$ 1.1 billion, it seems that FTM token is noting increased investor attention, which could trigger further growth in the next few months.

At the time of writing this, the cryptocurrency had a circulating supply of approximately 2.55 billion and a maximum supply of about 3.2 billion tokens.

If you are looking to explore the digital asset, we have compiled all the necessary information of FTM token. Let's take a closer look.

A little about Fantom and its in-house crypto token

Fantom is a high-speed smart contract platform that provides decentralized finance (DeFi) services to developers. As a new generation blockchain technology, Fantom claims to help achieve scalability, decentralization and enhanced security.

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Since FTM is the primary token of the blockchain, it is used for payments, network security and governance.

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Fantom's operations are based on the proof-of-stake (PoS) mining process, where people can validate or mine blocks as per the number of coins they hold. Since it is a community-driven platform, Fantom is fully open-source.

FTM token price movements and prediction

FTM token has surged by 115 per cent since the past one month, and 68 per cent in the last 14 days. Compared to the all-time low of US$ 0.00190227 per token (March 13, 2020), FTM token was trading 21981 per cent higher at the time of writing this, according to CoinGecko data.

As Fantom prioritizes security and decentralization, it is expected that the price of FTM will go up this year and breach the all-time high of US$ 0.948213 per token to reach the US$ 1 mark at some point.

Bottomline

If you are interested in FTM token, you can find it on major crypto exchanges like Binance, OKEx, Digifinex and VCC Exchange among others. As FTM token is a freely tradable token, investors are said to not face any issues while buying or selling them. 

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However, it is important to research and know about cryptocurrencies before deciding to invest in them.