Fantom price has been on a downfall from the $3.3 highs it acclaimed on January 16th. The altcoin has shed more than 40% of its gains in value over the past week. A little more correction might be on the cards before it moons. In lower timeframes, the FTM network appears to facilitate great trading opportunities, which hindered Fantom’s strength to break the neckline resistance.
Fantom’s rapport with ETH blockchain and its fastness in executing the transactions have captured the traction of developers and traders. However, the altcoin has seen an exponential growth of more than 19,000% since its launch. Moreover, the FTM’s response to adverse market sentiments had brought great confidence amongst token holders.
Fantom’s Mass Adoptions:
- Fantom protocol fecilitated the e-government infrastructure of Tajikstan. On the other hand, the ecosystem has also collaborated with OJSC Orienbank to trial a CBDC for the country.
- Fantom ecosytem has collaborated with SELISE to deloy services on FTMs smart contract network in Bangladesh. In addition, SELISE’s core focus is to upgrade FTM into financial solutions projects with exclusivity for mobile financial services in Bangladesh.
- The ecosystem has agreed to a Memorandum of understanding (MoU) with Afghan ministry of industry and commerce to revamp the Ministry’s IT infrastructure and deployment tools to safeguard the data on immutable blockchain databases.
- The Ukraine government office makes use of the FTM blockchain to exchange intellectual property.
Moreover, according to the insights of Fantom daily, the token was the top searched coin on Coingecko. The ecosystem has also recorded its name on most visited tokens, most voted coins, and a coin with the most positive sentiment. Being one of the attractive tokens, FTM price is likely to skyrocket in the near future.
Collectively, being the third biggest blockchain by TVL, it has accumulated TVL over $12 billion as of late January. Moreover, in just one year, developers on the blockchain increased by four times to about 90. Hence, the Fantom could become a multi-bagger once the market returns to normal trade.
Source: https://coinpedia.org/altcoin/fantom-could-be-a-multibagger-soon/