Fantom Blockchain has emerged as a promising player built on the DLT. Fantom is a DAG smart contract platform providing defi services to developers. With its innovative approach and advanced features, Fantom Crypto has gained significant attention and is ready to record increased adoption. It is an open-source decentralized smart contract for Dapps and is one of the best alternatives for Ethereum. FTM has a median gas price of $0.01 which is less than various platforms. Fantom leverages a unique consensus mechanism called Lachesis which helps to achieve high throughput. The Fantom platform also ensures that its network is robust and secure. The platform has also a very seamless interpolable with other networks.
Recently, Fantom has started paying the developer’s gas fees back. The developers of Fantom will get a 15% cut if their Dapp has done more than 125000 transactions in the past three months. This will inspire more developers to come on the FTM platform
Fantom has a market cap of $894 Million and is ranked 53rd in the cryptoverse. The volume of asset price has seen a slight decline intraday. The overall social sentiment for Fantom is neutral.
Will FTM See a New High Soon?
Fantom is currently observing a weak consolidated trend in price. FTM is currently in a downside trend in the daily chart but is looking for a recovery. It is currently trading near the value of $0.32 with a slight gain in the intraday session. The upside trend of Fantom can see a halt near the value of $0.5.Meanwhile, the support of FTM price can be observed near $0.29.It is currently trading below the 50 and 100 Daily Moving Averages.There can be a negative crossover in the future which can push the asset price down.
The RSI of Fantom price is near 36 with no slope in it. The overall sentiment of the RSI is neutral.
Summary
Fantom blockchain is ready to return 15% of the gas fees to the developers. FTM price is currently observing a weak upside trend and can see a new high in the future.
Technical Levels
Major Support:$0.29
Major Resistance:$0.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/06/04/fantom-price-prediction-is-ftm-price-ready-to-bounce-back-to-1/