Fantom's FTM Recovering Amid The Overall Market Bulls Run
9 comments
Evening
So, it seems the tide is also turning for Fantom network with broader bullish market. Currently FTM token is trading at $1.45, way below the all time high $3.28 from where it plummeted down to as low as $1.04 because of the FUD caused by the chain's two lead developers Anton Nell and Andre Cronje leaving. But with the bulls back in action, Fantom have started making a slow recovery.
Fantom is a new generation of blockchain than aims to solve scaling issues of legacy chains like Ethereum by offering lower transaction cost, higher throughput and instantaneous transaction confirmation. Contrary to Bitcoin's 6 and Ethereum's 12 confirmations requirement per transaction, each transaction on Fantom is final and irreversible needing just one confirmation. The key behind Fantom’s superior performance is because it is a network of chains each operating independently from other with the ability to communicate with one each other. Each dapp on Fantom runs on its own separate chain, tailor maid for its dapp's particular needs. The result is a high performing network of chains without any scalability issues.
To put it in a way, Ethereum can be regarded a central computer running multiple applications, whereas Fantom can be treated as a network of multiple computers with each one specializing in running its own application and ability to communicate with others when needed.
The technology behind Fantom is awesome, and the networks saw a sharp rise in popularity last year. But the current year has been full of troubles for Fantom, majorly because of the FUD caused by the announcement of two popular developers(Anton Nell and Andre Cronje) departing. And with that allegations followed regarding the misappropriation of funds by Fantom Foundation in order to benefit a few whales.
Fantom Foundation issued clarification that none of the departed developers were alone responsible for the development of Fantom technology, instead it was the work of thousands of developers.
It is still unclear whether current bulls are responsible for Fantom recovery or the investors confidence have started to restore. But one thing for sure is, technology behind Fantom is sound and indeed promising.
With more than 80% of FTM token supply already in circulation, 10X or may be 100X price action can be expected in medium term(just like what happened with Solana and Avalanche), if the conditions favored Fantom. Solana and Avalanche are good but they already had their moons, nacent chains like Fantom are where room for aggressive growth and crazy returns still lies.
Posted Using LeoFinance Beta
![Waivio](/images/icons/cryptocurrencies/waiv.png)
Comments