The one altcoin project with exquisite fundamentals that has been garnering the traction of a larger user base is Fantom (FTM). The protocol has gained a whopping 150% gains just over the past couple of weeks. The unwavering ecosystem maturation, institutional investment, and positive community growth are pivotal signs that FTM will continue to be one of the leading contenders in 2022.
Fantom (FTM) Price Eyes For New ATH!
Fantom price has experienced gigantic gains over the past couple of weeks. With a nice breakout at $1.36, the price has quickly passed the resistance test at $2.19. Thereby taking another parabolic move moving close to the previous ATH near $3. However, along with so many upgrades coming its way, the project would undergo an explosive rally throughout the year.
Along with eye-popping gains, the ecosystem has been good enough at comprehending new user bases. Post its gigantic rally in August STH (Short-term Holders) figures have managed to grow by 17% as per the reports of Intotheblock.
On the other hand, Crypto metric platform Santiment confirms that FTM has risen by 19% despite crypto’s weakened rally. Further, the platform has spiked by 115% in just 14 days, also the platform’s active addresses have risen to historic levels. With daily active addresses to 2,353, the network achieved the highest output since late November.
Fantom is Occupied in Groundbreaking Developments:
- Fantom has deployed a Directed Acyclic Graph (DAG) backed Asynchronous Byzantine Fault Tolerant (aBFT) consensus mechanism named Lachesis to facilitate highly scalable, energy-efficient, and cost-efficient methods in order to validate transactions.
- Its compatibility with Ethereum Virtual Machine allows any application developed on Ethereum and programmed in Solidity can employ multichain to Fantom at reliable charges.
- Fantom Virtual Machine (FVM) that has been under development is set to enhance scalability, cost, and finality on Fantom above all the limitations put by the Ethereum Virtual Machine. However, the upgrade is expected to roll out in 2022.
- Fantom has experienced tremendous growth in TVL from January 2021 to January 2022 by jumping from just $5k to $1.5 million.
Collectively, the Fantom ecosystem has all the possibilities to undergo a similar rally like Solana. It is yet to achieve many milestones in terms of fundamentals. The proponents and analysts believe that projects which are cost-efficient and agile will take the space by storm in 2022. Successively, Fantom stands top in the list.