Will Solana repeat its 2021 price rally this year,
or will it be another blockchain that could emerge genuinely as the so-called ‘Ethereum-killer?
One crypto has at least two similarities with Solana of 2021. Solana started last year with
a very humble price tag, but it soon breached US$100 and ended the year with over 10,000 per
cent gains. DApps developers increasingly adopted Solana’s blockchain. Fantom is trading at a very
humble price tag at the moment, and as far as its blockchain is concerned, Fantom outshined Ethereum
with respect to the number of transactions over 24 hours for the first time on January 24, 2022.
Lets find out about Fantom’s blockchain.
Fantom can be understood as a blockchain for the development of decentralized apps.
Smart contracts, which are at the heart of blockchain’s decentralized ledger tech,
can be built and deployed using Fantom services. Fantom uses proof-of-stake,
with enhanced features, as its preferred consensus algorithm. The network claims to
have a higher transaction speed with cost advantages over Ethereum’s blockchain.
Wait wait, that’s not it, I have some more details on Fantom’s recent strides.
Fantom lately trumped Ethereum in terms of the number of transactions. In 24 hours,
Fantom registered approx. 1.2 million transactions, while Ethereum recorded 1.1
million, according to the Etherscan tracker. Fantom was a late entrant in the blockchain,
having started only in December 2019. Since then, Fantom has recorded nearly 170 million
transactions. Ethereum leads with nearly 1.4 billion transactions so far. It also reported
that Fantom is now the third-largest DeFi in terms of locked value. Lately, cryptocurrency
exchange Nexo added support for FTM crypto, which serves as the native token of Fantom.
And before we wrap this video, lets glance at Fantom’s price prediction.
Fantom has emerged as a leading DeFi player lately. FTM token finds use within the platform,
and the demand for FTM may likely lead to a value surge. FTM has a market cap of nearly
US$4.9 billion, and it ranks among the top 30 crypto assets.
Fantom has yet to enter the double-digit price trajectory.
This may happen by the end of the first quarter. But for this, Fantom will have to sustain the lead
over other DeFi service providers. The low per token price may also be an advantage for Fantom.
Conclusion:
Fantom is in a crowded space, and many DeFi platforms claim to be an enabling ecosystem
with high speed and low costs. Fantom may rise if it can maintain the lead
in blockchain network services.