Fantom

Fantom

FTM
$0.74295550
-20.10%
$0.67610383

24H Price

$0.93442367


About Fantom

The Fantom price is $0.74295550, a change of -20.10% over the past 24 hours as of 5:55 a.m. The recent price action in Fantom left the tokens market capitalization at $2.08B. So far this year, Fantom has a change of 56.73%. Fantom is classified as a Smart Contract Platform under CoinDesks Digital Asset Classification Standard (DACS).

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.

FTM price

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.

How does Fantom work?

Fantom is a smart contract blockchain designed to be faster and cheaper than alternatives like Ethereum. Unlike Ethereum, Fantom operates by way of a directed acyclic graph (DAG), similar to Hedera Hashgraph. With DAGs, transaction histories are expressed as graphs of blockchain hashes.

Also unlike the case with Ethereum, Fantom’s proof-of-stake consensus mechanism, Lachesis, is leaderless. This means that it can operate transactions independently rather than handling batches of transactions as they come in.

Like Avalanche and Binance Smart Chain, Fantom is also compatible with the Ethereum Virtual Machine, meaning that developers can easily move their projects over to Ethereum. Popular platforms include Fantom Finance, Geist Finance and SpookySwap.

Key Events and management

Fantom launched its main network called Opera in December 2019. It has raised $40 million in funding, including $2.7 million from an initial coin offering in June 2018.

One of Fantom’s leading contributors was Andre Cronje, the DeFi developer who created Yearn Finance. Fantom’s price dropped 15% the day after Cronje and his colleague, Anton Nell, a senior solutions architect at Fantom, announced their departure from DeFi in March 2022.

Read less...
Sponsor LogoBuy crypto on a secure, trusted platform.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don’t invest unless you’re prepared to lose all the money you invest.

Latest About Fantom

View All
(Mathieu Stern/Unsplash, modified by CoinDesk)
Fantom Cofounder Mulls Idea for 'Safer' Meme Coins

Fantom's Cronje is the latest in a line of blockchain teams that are open to directly engaging with meme coins.

(Mathieu Stern/Unsplash, modified by CoinDesk)
(fikry anshor/Unsplash, modified by CoinDesk)
Fantom Seeks Money Back From Multichain’s $200M Exploit

The move aims to enable victims to “partially recover” assets lost in one of the biggest exploits in 2023.

(fikry anshor/Unsplash, modified by CoinDesk)
Fantom wallets drained (Towfiqu Barbhuiya/Unsplash)
Fantom Foundation Wallets Drained; $657K Stolen

The stolen funds have been transferred to a wallet that holds around $7 million worth of ether.

Fantom wallets drained (Towfiqu Barbhuiya/Unsplash)
Hector Network suffered major losses this month. (H. Armstrong Roberts/ClassicStock/Getty Images)
Hector Network Votes to Liquidate $16M Treasury Following Multichain, Fantom Losses

The vote delivers a pyrrhic victory to activist investors who hounded the Fantom-based project with allegations of mismanagement.

Hector Network suffered major losses this month. (H. Armstrong Roberts/ClassicStock/Getty Images)

Rootstock Chief Scientist, Sergio Demian Lerner, regards the upcoming Bitcoin halving is a moment of celebration for the community and highlights the importance of transaction fees for the sustainability of the network. Read more...

CoinDesk Indices

View All
Top Indices including Fantom
Logo
Index nameTickerWeight24H

Bitcoin Calculator

Last Updated on 04/13/24 5:55 AM

CoinDesk’s Bitcoin and Cryptocurrency Calculator determines the exchange rates between major fiat currencies and cryptocurrencies – including BTC, BCH, ETH and XRP to USD, EUR, GBP, IDR and NGN – with up to six decimal places of accuracy. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.