Shadow price predictions: where will crypto FTM go in 2022?

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Fantom (CCC: FTM-USD) is in the crypto spotlight today, as engagement on Stocktwits around cryptocurrency steadily increases. The crypto FTM first became tradable in 2018 and has since grown by over 15,000%. At the time of writing, FTM crypto is the 29th largest crypto based on its market cap of $ 6.7 billion. Additionally, the crypto is around $ 350 million from overtaking Stellar, the 28th largest crypto (CCC: XLM-USD).

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Fantom operates as a decentralized, open source Layer 1 blockchain that is powered by the Lachesis consensus mechanism. Lachesis uses a proof of stake structure that allows transactions to be fast, secure and scalable. Recently, CoinDesk reported an increase in the popularity and price of Fantom due to the fact that crypto is seen as an alternative to Ethereum (CCC: ETH-USD). Crypto users would be tired of slow transaction times and high transaction fees.

In addition, smart contracts are also accessible on the Fantom blockchain. A smart contract is a program stored on a blockchain that executes when predetermined requirements are met. Since contracts are self-executing, no middleman is needed to enforce the contract, saving costs for both parties.

The price of crypto FTM has increased by 21% over the past month. Will the sharp acceleration in prices continue? Let’s take a look at what crypto analysts think of the Fantom price prediction for 2022.

Fantom Price Predictions for 2022 Wallet Investor has a 2022 price forecast of $ 4.68. Impressively, that implies an 87% increase over current prices. According to proprietary indicators from Wallet Investor, sentiment surrounding Fantom over the past 30 days has been extremely bullish. Additionally, Wallet Investor notes that three points of resistance currently sit at $ 2.56, $ 2.64, and $ 2.70. Gov Capital has a 2022 price forecast of $ 4.12. This represents an increase of 64%. The prediction is based on “deep learning processes” which are taken into account in a custom algorithm. The custom algorithm includes inputs such as volume, market cycles and similar coins. PricePrediction has a 2022 price prediction of $ 3.79. This figure represents an increase of 51%. In the best-case scenario, PricePrediction believes Fantom could reach $ 4.28 in 2022. Even in the worst-case scenario, PricePrediction believes that Fantom will not fall below $ 3.69 by the end of 2022. Additionally , the price prediction is based on technical analysis. The analysis takes into account factors such as market capitalization, volume and historical prices. CryptoNewsZ has a 2022 price prediction of $ 3. This implies a 20% increase. CryptoNewsZ notes that continued partnerships and funding from the Fantom community will help the crypto meet the price prediction. The website notes that the price prediction is “quite optimistic but definitely doable.”

At the time of publication, Eddie Pan had (directly or indirectly) no position in any of the stocks mentioned in this article. The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.

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