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Crypto Fantom has been skyrocketing lately. In this article, we will look at the Phantom price predictions for 2023 and the latest Phantom updates. If we take a look at Phantom, we can see that its price has increased from $0.19 to $0.40 in the last month. Last month he brought in 2X which was an amazing sight.
Fantom overview and updates
Phantom is an open source, decentralized application and smart contract platform for digital assets, comparable to Ethereum. Phantom aims to balance scalability, security, and decentralization to overcome the limitations of previous blockchains. The project offers a comprehensive incentive structure, tools and DeFi tools to facilitate DApp integration.
Michael Kong, CEO of the Fantom Foundation, gave a big look at Fantom virtual machines and their benefits at Miami Blockchain Week's biggest Web3 conference.
1/n
Defining and identifying Go Opera bottlenecks pic.twitter.com/sxpz2S6DZn
— Simon Pompos (@theotherpomp) January 26, 2023
Fantom is a Blockchain 3.0 initiative and the first directional smart contract platform based on acyclic graphs that addresses the challenges of scalability and validation time in blockchain projects. They have set up an ecosystem vault that collects 10% of transaction fees on the network. Applicants can apply for funding by creating a ghost governance proposal with 55% approval and a quorum rating.
False price analysis
As of today, January 27, the price of Phantom is $0.462, with a 24-hour trading volume of $1.67 billion, a market cap of $1.18 billion, and a market dominance of 0.11%. FTM prices are up 54.10% in the last seven days. Fantom hit an all-time high of $3.47 on October 28, 2021. To buy FTM, we recommend eToro, a safe regulated exchange.
The FTM has had a major resistance level recently, often found around $0.41. In addition, the diversity of bears is increasing. For the daily timeframe, the RSI is low so we have to watch closely as we may see some negative activity soon. It can also look like a bearish reversal pattern known as a bearish wedge.
There are various initiatives that increase profitability despite increasing phantom fees. Check out our guide to the best cryptos to buy right now here.
FTM price predictions
Looking at the FTM it should hold the key $0.37 level, otherwise but ideally we'd like to see a break above the $0.42 level. On the weekly timeframe, we saw that there were four consecutive green candles, so we expect at least one reversal for this cryptocurrency soon. It is also starting to look like a doji candlestick, indicating that the buying and selling pressures are balanced.
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