The Fantom price has had a strong bull run and is trading at an all-time high. The ecosystem is in a strong bullish trend. Pierre Gasly, a Formula 1 driver, will launch his NFT collection using Fantom’s technology.
The Fantom (FTM) price relentless bull run continued Tuesday as developers continued to embrace the ecosystem. The price of the FTM coin rose to $2.41, which was a few points below its all-time high. This rally brought the total market cap to over $6.133 billion. It is now the 33rd largest cryptocurrency in the world.
Phantom ecosystem growth
Fantom is a blockchain network that is relatively similar to Ethereum, Solana and Binance Smart Chain. It is a network that allows developers to build decentralized applications such as DeFi, Non-Fungible Tokens (NFT), and games.
Data collected by DeFi Llama shows that approximately 46 DeFi platforms have been built on Fantom. This makes it the fifth largest platform after Ethereum, BSC, Avalanche and Polygon. The DeFi platforms built on Fantom have a total value locked-down (TVL) of over $5.48 billion.
Fantom has also created its own DeFi platform that has several features. It has FTM which users can wager to earn interest and fmint which allows people to mint synthetic assets such as cryptocurrencies and commodities.
In addition, the DeFi platform has fLend and fTrade platforms that allow people to trade and lend tokens. Visit Renovato.io Crypto website for enough information. The Fantom DeFi platform has a TVL of over $100 million, which is significant because it is a relatively new platform.
The Fantom price is rising due to the increasing interest in the so-called Ethereum killers. These are platforms that are similar to Ethereum but have advanced features such as high speed and lower cost. The price has also risen due to strong growth in the non-fungible token (NFT) industry. Uniswap price prediction 2025 is positive. For example, Pierre Gasly, a Formula 1 driver, will release an NFT collection for the auction at Artion on Tuesday. Artion was developed using Fantom’s technology.
Fantom price prediction
The 4-hour chart shows that the FTM price has recently been in a strong bullish trend. The coin has managed to reach the key resistance level of $2.45, which was its previous all-time high. Along the way, it has formed a cup-and-handle pattern. It is also supported by the 25 and 50 day moving averages.
Therefore, Fantom price is likely to burst higher if bulls start targeting the next key $50 resistance level. This view will be confirmed if the price manages to rise above the current resistance level.