Fantom signs new ATH and now targets $ 4

Nothing can stop the competitor of Ethereum. Only for the month of October, the price of Fantom (FTM) has already increased by 153%. For this trading session, FTM signs an ATH at $ 3.45. Now the $ 4 mark is the next technical challenge for Fantom.

Crypto takes advantage of ETH’s network congestion problems. Daily transaction volume explodes on Fantom’s blockchain. An adoption that affects the value of the Ethereum-Killer. From July to October, the price of Fantom was multiplied by more than 15 times.

If Ethereum does not tackle its scalability issues, Fantom will continue to advance at a breakneck pace in the stock market. Developers and creators will pour millions on its blockchain for its scalability and relatively low transaction fees.

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AnySwap: The Cross-Chain Solution That Can Destroy Ethereum

Unlike other blockchains which use a direct interoperability solution with Ethereum, Fantom offers a multi-chain solution called AnySwap to execute cross-chain transactions on multiple EVM networks. To put it simply, Anyswap will allow users to carry out transactions from Ethereum to Fantom and vice versa.

The popularization of this solution drives the knife further into the back of Ethereum struggling to solve its scalability issues. Blockchain user @Fantom Ecologist believes ETH’s high fees and congestion will drive developers to FTM. He said in one of his Twitter posts:

Established Ethereum projects can be transferred and traded with Fantom’s finality in less than a second and for a gas fee of just pennies.

A summit in Dubai to strengthen the ecosystem of the FTM

For what is called, Fantom Developper Conference, 250 players involved in the crypto industry joined the Fantom team to discuss the project behind the crypto claiming to be the fastest blockchain in the world. The summit will take place over 4 days starting from Monday October 25 to Friday October 29.

Notable sponsors and partners include the big names Binance and Red Bull, institutional heavyweights like Protocol Ventures and Quantum Fintech Group, as well as a series of projects involved in the burgeoning Fantom ecosystem including Tomb Finance, SpookySwap, SpiritSwap, Popsicle Finance, Overdrive, ZooCoin, and AnySwap. Writes Fantom in the press release.

A productive and dynamic meeting which should help the leaders of Fantom to improve the network but also to expand the crypto ecosystem.

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$ 4 for when? What are the forecasts for 2022?

Fantom signs new ATH and now targets $ 4

Daily chart: Evolution of the price of Fantom (FTM) on the stock market

With a growth of 13,405% over one year, Fantom has nothing to envy to the Doge and Shiba Inu. Apart from its multiple cases of applicability, the low price of the FTM played an important role in its explosion. Referring to its recent performance and technical indicators, observers believe the FTM will be able to seize the resistance bar of $ 4 very quickly on the stock market.

In just 5 days, Fantom’s price went from $ 2.23 to $ 3.45 with a correction to $ 3.14 as of this writing. Its current price is above the 20 and 50 day averages valued at $ 2.38 and $ 1.77 respectively. Traders are buying Fantom tokens as indicated by its RSI at 73.59. Much is said about a listing of the crypto on Coinbase. If it were to materialize, the price of Fantom will take wing on the stock market.

In terms of long-term predictions, algorithms need to revisit Fantom’s predictions because its price has moved faster than they would have predicted. For example, WalletInvestor had forecast the price of the FTM to reach $ 3 until the end of 2022. Yet the crypto has already broken that resistance line. DigitalCoin also had a forecast of $ 3.71 for 2022 which will be quickly crossed in view of the performance of the crypto.

A realistic forecast considering the current situation would be a Fantom at $ 6 at the end of 2021 with the assumption that Ethereum does not solve its scalability issues.

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