The Decentralized Finance space has outgrown what everyone had once imagined. It is now filled with contenders attempting to capture the top spot. Investors are betting heavily on Fantom among all the available contenders as it shows a bullish trajectory in the future.
Fantom is no different when it comes to volatility in the Cryptocurrency world. Therefore, one may want to go with the wait-and-see approach for now.
Fantom May Be Worth A Shot
Bitcoin was literally nothing when it was launched. It now carries the tag of the most successful Cryptocurrency in the world. In fact, people end up using it as an alternative to mentioning the word ‘Cryptocurrency.’
Fantom appears to be on a similar line but with a difference. Many economic factors are now involved, and they affect the trading value of a digital token.
The entire Crypto market is at a point where one can call it bearish. This happens to be a moment when many investors get on board by purchasing more units of Cryptocurrency.
One question that stops everyone is if it is still a viable option to put money in it. Many say that it will be worth a shot. The claim is supported by the initial value of 13 cents that Fantom had. It now rides high at 15 times that value.
Its current trading price is $2.05 per token with a market capitalization of $5.2 billion. Fantom ranks at 29th position in terms of being the most valuable Cryptocurrency. Experts estimate that the rank is only going to go higher, probably till 20th position, in the future.
Fantom deploys Directed Acyclic Graph smart contracts instead of blockchain technology. This sets it apart from others. It has also been termed as an alternative structuring method for Cryptocurrencies.
Another feather in the cap for Fantom is a constant increase in the number of DeFi developers getting on board. It has taken the network to $12.35 billion in terms of Total Value Locked, also known as TVL.
TVL is where Fantom excels better than other criteria. Fantom ranks third in the list when it is compared on the basis of Total Value Locked. This is significant because it is only behind Terra and Ethereum, standing at the second and first positions, respectively.
Investors looking to enter the community at this phase can enter, but it still carries risk. Like every other Cryptocurrency, Fantom has also witnessed fluctuation since the news of interest rates broke out, highlighting the probability that the US Federal Reserve may increase the rate.
The effect of the news was such that Fantom dropped by almost 38% from its best value of $3.30 per token.
Every Cryptocurrency has taken a hit, and with more macro-economic factors becoming connected to crypto trading, one can expect the values to be volatile, as is the nature of the market.
You can click here to check out the future of Fantom.
