Fantom
About Fantom
The price of Fantom (FTM) is $0.40216953 today, as of Sep 08 06:10 a.m., with a 24-hour trading volume of $140.81M. Over the last 24 hours, the price has increased by 6.75%. Fantom currently has a circulating supply of 2.80B and a market cap of $1.13B.
Fantom is the native cryptocurrency of a smart contract blockchain network by the same name that rivals Avalanche, Solana and incumbent market leader Ethereum. It’s known for its high speeds and low costs.
Fantom, which is also known by its ticker FTM, launched in 2019, but the token didn’t gain much traction until 2021. It had hummed along at about $0.20 for a little over two years until the Ethereum blockchain became congested. At that point, the market sought alternative smart contract platforms and FTM blew up. It rose to a high of $3.18 in October 2021, before crashing below a dollar once again in the spring of 2022. The tokens of rival “Ethereum killers” like Solana and Avalanche also fell, but not quite as hard as Fantom.
The price of FTM appears to depend on the success of Fantom, the smart contract-enabled blockchain it powers. If nobody uses Fantom’s decentralized finance (DeFi) protocols, then few will need FTM, the token used to process transactions. Of course, Fantom’s DeFi protocols will be used if the blockchain is cheaper and faster than its rivals and the project manages to attract top talent.
Fantom is also an inflationary token, meaning that the total number of FTM tokens will increase over time, but only up until a point – the token’s supply is fixed at 3.175 billion. Once all of the tokens have been issued, which crypto data platform Messari predicts will occur in 2024, no more FTM tokens will be introduced into circulation.
New tokens enter circulation in two ways. The first is when early investors and founders are allowed to use tokens they own, subject to vesting schedules. The second method is for stakers to earn FTM as a reward for confirming transactions on the blockchain. Yields change over time, but are designed to decrease when the network is more popular and increase with longer lockup periods.