Fantom (FTM) Bull Run: Can FTM Hit $2 After 20% Price Spike?
March 21 2024 - 6:40AM
NEWSBTC
Fantom (FTM), a cryptocurrency known for its high-speed smart
contract platform, has been making headlines recently with its
price movements and market predictions. As of the latest data,
Fantom is ranked #43 by market cap at $2.9 billion, with a trading
volume of $863 million in the last 24 hours. The current value of
Fantom stands at $1.06, reflecting an increase of 6.5% in the last
24 hours. Related Reading: Analyst Bullish On Polkadot (DOT),
Predicts $17 Price Target Before April Recent Developments Just
recently, Fantom announced a significant reduction in the minimum
staking requirements for validators from 500,000 FTM to 50,000 FTM.
This move aimed to enhance participation and engagement within the
Fantom ecosystem. Despite facing challenges like a sell-off of
assets and a hacking incident in 2023, Fantom managed to recover
and close the year with a notable 130% increase in value. Fantom:
Social Interest Up The increase in Fantom’s social volume indicated
that the price surge had caused the cryptocurrency market to start
talking about it. As the token’s weighted sentiment surged, so did
bullish emotion surrounding it. Source: Artemis Fantom’s network
activity remained high as the token’s price gained positive
momentum. According to NewsBTC’s examination of Artemis data, there
were comparatively more daily active addresses on the blockchain
last month. Bull Run Speculation Recent reports suggest that Fantom
is gearing up for a potential bull run, fueled by the overall
positive sentiment in the cryptocurrency market and the increasing
demand for altcoins. The price trend of Fantom indicates
preparations for a bullish phase, aligning with the broader market
movements that have seen Bitcoin surpassing the $70,000 mark. The
anticipation of a bull run is further supported by a 120% rally in
Fantom’s price in the last month, hinting at a strong upward
momentum. Bitcoin price action. Chart: TradingView Price Outlook
While the possibility of a bull run is on the horizon, the question
of whether Fantom can hit $2 after a 20% price surge remains
speculative. The current trajectory of Fantom’s price movement
suggests a potential for growth, but reaching the $2 mark would
require sustained positive market conditions and increased investor
confidence. Achieving such a milestone would signify a significant
milestone for Fantom and could attract further attention to its
platform and ecosystem. Meanwhile, an analytical forecast provided
by Anton Kharitonov, a Traders Union analyst, suggests a relatively
optimistic outlook for the price of Fantom (FTM) by the end of
2024. Source: Traders Union Kharitonov anticipates FTM reaching
$1.3951. However, it’s important to note that this forecast is not
isolated, as it aligns with the expectations of other TU analysts,
who project a range of $1.2556 to $1.5346 for FTM’s price by the
end of the same year. Related Reading: Leading The Pack: Solana
Captures Nearly 50% Of Global Crypto Attention This analysis
indicates a consensus among TU analysts that Fantom’s price will
likely experience moderate growth throughout 2024. The range
provided reflects the inherent uncertainty in predicting
cryptocurrency prices, considering the volatile nature of the
market and the multitude of factors that can influence price
movements. Featured image from , chart from TradingView
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